TheCityUK’s Enabling Growth Across the UK 2025 report shows the industry employed 63,000 people in Wales in 2023 and contributed 8.2 per cent of the nation’s total gross value added (GVA).
Tom Bray, TheCityUK chair for Wales, said: “The Welsh financial and related professional services industry is thriving – creating high-value employment, attracting international investment and driving new opportunities for growth.
“With strong industry foundations across Cardiff, Swansea and Newport, and a burgeoning FinTech industry, there is a real opportunity to scale the industry’s success in Wales beyond these important hubs.”
Cardiff and Swansea account for more than half of the sector’s workforce, with the industry making up nearly one fifth of GVA in both cities.
TheCityUK recommends improved skills planning, stronger public-private partnerships, and streamlined business support to further boost growth.
It also calls for better infrastructure, digital connectivity, and transport links.