The economy of the BMW Region has undergone significant change in recent years and this process continues today. There is a continuing shift away from agriculture and traditional manufacturing. This shift has been accompanied by falling unemployment and higher levels of economic activity. While the region is growing rapidly when compared with other regions of the European Union, it continues to lag behind the S&E Region in a number of areas such as company start-ups and expansion, inward investment and product innovation.
Despite these challenges, the BMW Region enjoys some key advantages, especially in the quality of its living environment. There are lower levels of air pollution, lower transport congestion and lower living costs, especially in relation to house prices. However, as stated in the NDP/CSF 2000-2006, while the BMW Region presents a better living environment, “because of the overall attractiveness of large urban centres to the modern population, as evidenced by their growth, it may be less desirable than other Regions as a location in which to work and live.”
A summary of the key income indicators for the Region with relevant comparisons are included in Table 3.2
| Table 3.2: Socio-Economic Indicators | ||||||
| Year | State | S&E | BMW | EU 15 | EU 25 | |
| Population (m) | 2006 | 4.2 |
3.1 |
1.1 |
384.8 |
459.0 |
| Employment (000s) | 2006 | 2,073.3 |
1,539.8 |
533.5 |
165,469 |
194,551 |
| Unemployment rate % | 2006 | 4.4 |
4.6 |
5.3 |
7.3 |
7.9 |
| Disposable Income per capita (state = 100) | 2004 | 100 |
102.5 |
93.2 |
83.1 |
- |
| GVA per person (state = 100) | 2004 | 100 |
109.9 |
72.7 |
81.7 |
74.4 |
| Growth in Disposable Income | 1995-2003 | 105% |
105% |
105% |
- |
- |
| Growth in Gross Value Added | 1995-2003 | 136% |
141% |
111% |
19.7% |
20.3% |
Source: Central Statistics Office and Eurostat
