Oxford is well known around the world for its university and its education, but it is also a rich area for business and industry. The city plays a key role in the economy of Oxfordshire, including being the base for seven of the ten largest employers. There are around 149,000 residents in the area, with 3,400 businesses providing 106,000 jobs. Around half of the workforce working within the city lives outside of its boundary.
Education
With Oxford University such a central figure in the area, it is no surprise that education is a major economic industry, especially when you add on the additional educational opportunities at Oxford Brookes University. Additionally, the renowned Oxford University Press is also a major employer in the area. As such a prestigious center for education, with many people coming from around the world to engage in it academic opportunities, Oxfordshire has become a rich source for research and development businesses that are attached to both universities.
Automotive
Oxfordshire has a strong automotive industry, especially with the BMW plant at Crowley. With the new Mini, the plant has been modernized and updated to bring even more manufacturing opportunities into the area. Along with BMW, the Unipart Group of Companies, which is one of the leading independent logistics, automotive parts and accessories companies in Europe, has a home in Oxford. These companies provide many jobs for those working within the automotive and manufacturing industry.
Tourism
Due to Oxford’s rich history and its world-renowned university, over 9.3 million tourists visit every year. This allows for a significant tourism-based economy in the area. In fact, 89 percent of employees in the area work in services, out of which 19 percent are in hotel, catering and retail. Many of the hotels, shops and restaurants in the area rely on the millions of tourists to visit every year, bringing in a significant amount of revenue.
IT and Digital Marketing
One of the fastest growing industries in the area is the IT and digital marketing industry. As computers and digital technology increases around the world, it is no surprise that a growing number of IT, software, digital marketing and SEO, and creative media businesses are choosing to move to the area. Some of these services, like marketing with SEO, will support the other industries in the area, while also providing employment resources for the local population.
Bioscience
Another growing area of business in the Oxfordshire area is bioscience. Many companies are moving into the area to research and develop within the biosciences, taking advantage of the intelligence and education surrounding the area due to the university. They will often recruit many of the students, graduates, and even professors to work for them. Some of these businesses include pharmaceutical companies that are researching and developing new medicines to help with a variety of diseases and health problems.
Whether digital marketing and SEO, IT, education, tourism, pharmaceuticals, or automotive, the business and industry in the area continues to grow, creating many opportunities for the residents of Oxfordshire and graduates of both universities.
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