Key Business Sectors

Financial Services

The financial services sector employs over 20,000 people and includes key investors such as Citi, the Allstate Corporation, Liberty Mutual, Wombat Financial Software and HBoS as well as many indigenous companies. Around 13,000 students are currently taking finance related courses at undergraduate level. An innovative cooperation scheme between Northern Ireland and the Republic of Ireland launched in April 2008 will allow financial services companies based in the Republic of Ireland to expand to Northern Ireland to address their recruitment difficulties while retaining their tax incentives.

Download Invest NI's report

http://www.investni.com/financial_services_in_northern_ireland.pdf

Life Sciences

Belfast’s life and health technology sector has shown strong growth in recent years, grounded in leading-edge research in areas such as oncology, genomic and proteomics. In recent years through indigenous growth and global acquisition, sales throughout the life science sector, have almost doubled, while employment levels have increased by around 40%.

Download Invest NI’s report

http://www.investni.com/life_sciences_ni_overview.pdf

Information, Communications Technology (ICT)

Belfast’s ICT sector has grown rapidly over the past number of years and the software area has developed, particularly in financial services, mobile communications, internet and e-commerce. Ready access to a highly-skilled and loyal workforce and the existence of an already thriving local industry has led major companies such as Nortel Networks and BT to choose Belfast as a location for their software operations. The rapid growth of the sector owes much to a number of indigenous companies who have successfully tapped into international markets as well as the academic research and support which encourages further innovation and development in the sector.

Download Invest NI’s report

http://www.investni.com/ict_sector_in_northern_ireland.pdf

For more information see Invest NI information

http://www.investni.com/index/locate/our_key_business_sectors/ict.htm

Electronics/Telecommunications

Belfast boosts leading companies and R&D when it comes to electronics and telecommunications. The Institute of Electronics and Communications Technology (ECIT) is globally recognised as housing world class R&D activity and developing new technologies with global potential reach.

Download Invest NI’s report

http://www.investni.com/telecommunications_sector_brochure.pdf

Creative Industries

The Creative Industries is one of Belfast’s fastest growing sectors with over 1,000 creative businesses based in the city, employing over 17,000 people. Important sub-sectors for Belfast include film and television, digital media, and fashion and design. Annual turnover levels for Belfast companies range from £30,000 to £15 million and almost 7 out of 10 companies are micro-businesses, employing less than 10 people.

Read Belfast City Council’s Creative Industries Report

Manufacturing

Belfast has a strong traditional manufacturing base and the sector continues to play an important role in the city’s economy, accounting for approximately 11% of employment. In 2006 the Manufacturing sector accounted for 76% of total exports, this is £11.2billion, representing an increase of 5.7 % (£610million).

Contact Centre Services

An abundance of young, well-educated people exuding natural friendliness has seen Belfast emerge as a leading international contact centre location. As the focus shifts from cost reduction to value creation, the city is well placed to meet the demanding needs of a demanding marketplace. Businesses which have already made a significant investment in the city include HCL, Gem, HBoS and Abbey.

Retail

Belfast is home to many famous UK high street stores but also offers a diverse number of independent specialist shops, ranging from antiques and fashion boutiques, to delicatessens and specialist book stores. There are 834 retail outlets in Belfast’s prime retail area, an increase of 58% since 2006. The £320mn Victoria Square shopping and leisure complex opened in 2008 bring many high end shops to Belfast.