South West is 2nd wealthiest part of the UK

A study by Barclays published this month, places Somerset in the region with the 2nd highest wealth indicators in the UK, behind only London and the South East. Amongst the factors that contribute to these findings is the relatively low unemployment and the high level of business start-ups.

Figures released by the bank have confirmed the region - which includes Somerset as well as Cornwall, Devon, Dorset, Wiltshire and Bristol, Poole and Bournemouth - enjoys a median household wealth of £288,300.

This figure is the second highest in the whole of the UK, just falling behind the median wealth of the South East, which stands at £309,700.

This wealth is visible through a number of different areas. The South West is now home to around 59,000 millionaires, a number which has substantially increased since 2010, when it stood at 42,000.

From the Western Gazette