Devon - Economy and Industry

Economy and Industry

Like neighbouring Cornwall to the west, historically Devon has been disadvantaged economically compared to other parts of Southern England, owing to the decline of a number of core industries, notably fishing, mining and farming. Agriculture has been an important industry in Devon since the 19th century. The 2001 UK foot and mouth crisis harmed the farming community severely. Since then some parts of the agricultural industry have begun to diversify and recover, with a strong local food sector and many artisan producers. Nonetheless the dairy industry is still suffering from the low prices offered for wholesale milk by major dairies and especially large supermarket chains.

The attractive lifestyle of the area is drawing in new industries which are not heavily dependent upon geographical location; Dartmoor, for instance, has recently seen a significant rise in the percentage of its inhabitants involved in the financial services sector. The Met Office, the UK's national and international weather service, moved to Exeter in 2003.

Since the rise of seaside resorts with the arrival of the railways in the 19th century, Devon's economy has been heavily reliant on tourism. The county's economy followed the declining trend of British seaside resorts since the mid-20th century, but with some recent revival and regeneration of its resorts, particularly focused around camping; sports such as surfing, cycling, sailing and heritage. This revival has been aided by the designation of much of Devon's countryside and coastline as the Dartmoor and Exmoor national parks, and the Jurassic Coast and Cornwall and West Devon Mining Landscape World Heritage Sites. In 2004 the county's tourist revenue was £1.2 billion.. More successful visitor attractions in recent years have tended to target higher-spending tourists, particularly focusing around the food and drink sector and watersports. Examples such as the Venus Cafes; Damien Hirst's restaurant in Ilfracombe; Burgh Island; surfing and camping around Croyde and Woolacombe and sailing around Salcombe have all proved a big draw in recent years.

Incomes vary significantly across the county, with parts of Torridge and Torbay having among the lowest earnings in the whole of the UK. Incomes in much of the South Hams and in villages surrounding Exeter and Plymouth are by contrast above the national average. Likewise levels of deprivation tend to be highest in urban areas such as Torbay, Plymouth, plus parts of Exeter and Ilfracombe. They are lowest in the rural fringes of big settlements, easily commutable, such as Ivybridge, Woodbury, Kenton and Braunton.