Economy
The city provides strong industries and services to a sizeable area. The Met Office, the main weather forecasting organisation for the United Kingdom and one of the most significant in the world, relocated from Bracknell in Berkshire to Exeter in early 2004. It is one of the three largest employers in the area (together with the University of Exeter and Devon County Council).
The city centre provides substantial shopping facilities. The High Street is mainly devoted to branches of national chains: A NEF survey in 2005 rated Exeter as the worst example of a clone town in the UK, with only a single independent store in the city's High Street, and less diversity (in terms of different categories of shop) than any other town surveyed. Three significant shopping areas that connect to the High Street provide a somewhat more varied menu. Princesshay, a post-war retail area connecting to the south side of the High Street was home to a number of independent stores prior to redevelopment in 2007, but is now also largely occupied by national chains. It is an innovative, varied development, and it is still intended that a number of the new units will be let to local independent stores. On the other side of the High Street, the partly undercover Guildhall Shopping Centre houses a mixture of national and more regional shops, and connects to the wholly enclosed Harlequins Centre where smaller businesses predominate. Smaller streets off the High Street such as Gandy Street also offer a range of independent shops.
On 26 June 2004, Exeter was granted Fairtrade City status.
Although a popular tourist destination, the city is not dominated by tourism, with only 7% of employment dependent on tourism compared with 13% for Devon as a whole (2005 figures).
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Famous quotes containing the word economy:
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—Alexander Herzen (1812–1870)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
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—Henry David Thoreau (1817–1862)