Economy of Cornwall

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Cornwall is a county in South West England, and one of the poorest areas of the United Kingdom. Its economy is largely dependent on tourism.

1 Statistics
2 Tourism
3 Industry
4 Creative industries
5 References

[edit] Statistics

This is a chart of trend of regional gross value added of Cornwall and Isles of Scilly at current basic prices published (pp.240-253) by Office for National Statistics with figures in millions of British Pounds Sterling.

Year	Regional Gross Value Added^[1]	Agriculture^[2]	Industry^[3]	Services^[4]
1995	3,230	235	813	2,182
2000	4,245	198	1,021	3,027
2003	5,401	221	1,195	3,985

Cornwall is one of the poorest areas in the United Kingdom. The GDP is 62% of the national average.^[5] Cornwall is one of four UK areas that qualifies for poverty-related grants from the EU (European Social Fund). Today, the Cornish economy depends heavily on its successful tourist industry, which makes up around a quarter of the Cornish economy.

The official measures of deprivation and poverty at district and 'sub-ward' level in Cornwall show that there are large differences in poverty and prosperity in different parts of Cornwall and that though some parts are among the poorest in England, others are among the top half in prosperity. For example, the ranking of 32 482 sub-wards in England in the index of multiple deprivation ranges from 819th (part of Penzance East) to 26 584th (part of Probus), where the lower number represents the most deprivation. See also Poverty and deprivation in Cornwall (June 2006)and Poverty and neighbourhood renewal in west Cornwall (January 2002)

Traditional areas such as china clay extraction have gradually shed workers in recent years.

[edit] Tourism

Cornwall's unique culture, spectacular landscape and mild climate make it a popular tourist destination eloquently portrayed in [1], despite being somewhat distant from the United Kingdom's main tourist centres. Surrounded on three sides by the English Channel and Celtic Sea, Cornwall has miles of beaches and cliffs. Other tourist attractions include moorland, country gardens and wooded valleys, and tourism is a significant economic sector.

Five million tourists visit Cornwall each year, mostly drawn from within the UK.^[6] In particular, Newquay is a popular destination for surfers. In recent years, the Eden Project near St Austell has been a major financial success, drawing one in eight of Cornwall's visitors.^[7]

[edit] Industry

Other industries are fishing, although this has been significantly damaged by EU fishing policies, (the Southwest Handline Fisherman's Association has started to revive the fishing industry)^[8], and agriculture, which has also declined significantly.

Mining of tin and copper was also an industry, but today no longer exists, and several defunct mines applied for status as UNESCO World Heritage Sites.^[9]However, the Camborne School of Mines is still a world centre of excellence in its field.^[10]

World Heritage Status was granted to the Cornwall and West Devon Mining area on 14 July 2006. This will allow Cornwall County Council the opportunity to expand its Mineral Tramways Project of walking trails along with re-instatement of engine houses and other places of mining interest. Completion of this network is expected some time in 2008. [2]

[edit] Creative industries

In recent years Cornwall's creative industries have undergone significant growth, thanks in part to Objective One funding. There is now a significant creative industry in Cornwall, encompassing areas like graphic design, product design, web design, packaging design, environmental design, architecture, photography, art and crafts.