Economy and industry in Bristol City England
As a major seaport, Bristol has a long history of trading commodities, particularly tobacco; deals were frequently struck on a personal basis in the former trading area around Corn Street, and in particular, over metal trading tables, known as "The Nails". This is the origin of the expression "cash on the nail", meaning immediate payment.
As well as Bristol's nautical connections, the city's economy is reliant on the aerospace industry, the media, information technology and financial services sectors and tourism.In 2004 Bristol's GDP was £9.439 billion GBP, and the combined GDP of Gloucestershire, Wiltshire and North Somerset was £44.098 billion. The GDP per head was £23,962 (US$47,738, €35,124) making the city more affluent than the UK as a whole, at 40% above the national average. This makes it the third-highest per-capita GDP of any English city, after London and Nottingham, and the fifth highest GDP per capita of any city in the United Kingdom, behind London, Edinburgh, Belfast and Nottingham.
In the 20th century, Bristol's manufacturing activities expanded to include aircraft production at Filton, by the Bristol Aeroplane Company, and aero-engine manufacture by Bristol Aero Engines (later Rolls-Royce) at Patchway. The aeroplane company became famous for the World War I Bristol Fighter, and Second World War Blenheim and Beaufighter aircraft. In the 1950s it became one of the country's major manufacturers of civil aircraft, with the Bristol Freighter and Britannia and the huge Brabazon airliner. The Bristol Aeroplane Company diversified into car manufacturing in the 1940s, producing hand-built luxury cars at their factory in Filton, under the name Bristol Cars, which became independent from the Bristol Aeroplane Company in 1960.
The aerospace industry remains a major segment of the local economy. The major aerospace companies in Bristol now are BAE Systems, Airbus and Rolls-Royce, all based at Filton, and aerospace engineering is a prominent research area at nearby UWE. Another important aviation company in the city is Cameron Balloons, a manufacturer of hot air balloons. Each August the city is host to the Bristol International Balloon Fiesta, one of Europe's largest hot air balloon events.
As a major seaport, Bristol has a long history of trading commodities, particularly tobacco; deals were frequently struck on a personal basis in the former trading area around Corn Street, and in particular, over metal trading tables, known as "The Nails". This is the origin of the expression "cash on the nail", meaning immediate payment.As well as Bristol's nautical connections, the city's economy is reliant on the aerospace industry, the media, information technology and financial services sectors and tourism.In 2004 Bristol's GDP was £9.439 billion GBP, and the combined GDP of Gloucestershire, Wiltshire and North Somerset was £44.098 billion. The GDP per head was £23,962 (US$47,738, €35,124) making the city more affluent than the UK as a whole, at 40% above the national average. This makes it the third-highest per-capita GDP of any English city, after London and Nottingham, and the fifth highest GDP per capita of any city in the United Kingdom, behind London, Edinburgh, Belfast and Nottingham.
In the 20th century, Bristol's manufacturing activities expanded to include aircraft production at Filton, by the Bristol Aeroplane Company, and aero-engine manufacture by Bristol Aero Engines (later Rolls-Royce) at Patchway. The aeroplane company became famous for the World War I Bristol Fighter, and Second World War Blenheim and Beaufighter aircraft. In the 1950s it became one of the country's major manufacturers of civil aircraft, with the Bristol Freighter and Britannia and the huge Brabazon airliner. The Bristol Aeroplane Company diversified into car manufacturing in the 1940s, producing hand-built luxury cars at their factory in Filton, under the name Bristol Cars, which became independent from the Bristol Aeroplane Company in 1960.
The aerospace industry remains a major segment of the local economy. The major aerospace companies in Bristol now are BAE Systems, Airbus and Rolls-Royce, all based at Filton, and aerospace engineering is a prominent research area at nearby UWE. Another important aviation company in the city is Cameron Balloons, a manufacturer of hot air balloons. Each August the city is host to the Bristol International Balloon Fiesta, one of Europe's largest hot air balloon events.
