Leeds to become 'super city' of the future

Leeds is forecast to become one of five new "super cities" in research from HSBC identifying the economic "hot spots" in modern-day Britain.

According to HSBC’s Future of Business report the UK’s business landscape is set for its biggest shake up since the industrial revolution. While Leeds plays to its strengths in finance, other UK cities such as Newcastle will focus on science.  

Liverpool, London and Brighton are the three other super cities named in the report, which also identifies York as a future 'hot spot' for biotechnology. 

The report concludes it has uncovered a changing econmomic landscape, which will be  populated with new centres for gaming, wind farms and robotics dominating the traditional map of UK industry, which was once plotted with factories, power stations and livestock.
 
The report, from HSBC Commercial Banking and The Future Laboratory, predicts that the economic downturn, increased emphasis on internationalisation and changing demands on business will profoundly alter the UK’s "business map" as the 21st century unfolds. 

It is forecasting a new regional geography with the birth of five new "supercities" and a map of tomorrow populated by nanotech, cybernetics and a growing emphasis on bio and tech sciences driven by new economic income streams.

According to the report’s authors, the changes are being driven by the recession, which will create an emphasis on interpersonal skills in business; technological advances; the demands of many for new and flexible ways of working; more business trade taking place across international borders, and a rise in entrepreneurship.

Report author Martin Raymond said: "These supercities and regions will derive their status, income and prestige from new economic income streams such as biotech, stem cell research, innovation, gaming and even alternative work practices and business models.” 

The authors say change is being accelerated by the recession. "Business used to be cyclical, rhythmic and geographically specific," said Raymond. "Now it is increasingly rootless, borderless and weightless. It is defined as much by our ability to see opportunity in ideas, knowledge and intellectual resources as it is to profit from trading in real products and tangible assets."

Noel Quinn, head of HSBC Commercial Banking UK, said:  “The face of business is changing and while we are in tough economic times, this report unveils some positive new trends that could alter the shape of the working world tomorrow.