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'Supercities' set to transform UK

Five new “supercities” will evolve over the next 20 years as the UK economy undergoes the biggest change since the industrial revolution, a study claims.

The North East is set to benefit from this revolution as Newcastle becomes a centre for scientific development, according to HSBC’s Future of Business report.

The report said five new “supercities” - Brighton, Leeds, Liverpool, London and Newcastle - would evolve over the next 20 years as the country increasingly focuses on new economic endeavours based on nanotechnology, cybernetics and other bio and technological sciences. Dislocation between London and the rest of the country will intensify, according to the report, which predicts the capital will become a city-state.

The report said changes were being driven by the recession, which will push new ways of working, increased international business and entrepreneurship.

Leeds is predicted to establish itself as a financial hub, second to London, while Liverpool is expected to build on last year’s European Capital of Culture status to become a global brand.

Martin Raymond of The Future Laboratory, who authored the report, said: “Our panel predicted the rise of supercities and regions over the next 20 years.

“They promise to change the traditional national and regional power bases because of their proximity to the one thing that does not depend on natural resources - knowledge.

“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 report was based on input from 18 industry experts and data from 500 entrepreneurs and decision makers in 17 UK cities.

This was posted in Bdaily's Members' News section by Ruth Mitchell .