Wednesday 18th Oct 2017 - Logistics Manager

Positive outlook for transport sector

British transport businesses predict steady growth and an increase in real GDP over the next ten years, according to a survey by Barclays Corporate.

54 per cent of business leaders from the transport sector predict steady and sustained growth over the coming decade, with only 25 per cent expecting negative growth. When asked what will fuel this growth, technology is cited by 85 per cent as being a key driver, followed by immigration/population growth at 82 per cent.

For the research entitled “Business in 2021”, business leaders from varying sectors were surveyed on the conditions they expect their businesses to face in a decade’s time.

Rob Riddleston, head of transport and logistics at Barclays, said: “The transport sector is a bell weather for economic activity in terms of both passenger and freight movements and will thus reflect the wider prospects for the UK.

“The UK has been a magnet for foreign direct investment for more than two decades bringing both benefits and challenges. While we can expect more international investment in the UK to stimulate economic development and job creation, there also needs to be consideration given to the fact decision making, research and development and tax generation may be located elsewhere.”

Foreign investors stand to benefit, with 69 per cent of transport sector respondents predicting an increase in foreign ownership of UK companies and assets over the next decade, including 33 per cent believing there will be “much more” foreign ownership in the UK.

However 35 per cent of those surveyed believe UK business conditions will deteriorate over the next decade, and 41 per cent expect the UK to be less competitive. 70 per cent expect to see UK exports drop, while just 17 per cent expect an increase in the next ten years.

For the research entitled “Business in 2021”, business leaders from varying sectors were surveyed on the conditions they expect their businesses to face in a decade’s time.