Vale of Glamorgan Paved with Gold On the Roll of Wales' Affluentials
Western Mail › December 08, 2005
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Summary
The Vale of Glamorgan has today been confirmed as the 'real wealthiest' place in Wales. It is a mecca for a type of people dubbed 'affluentials' because they are leaders in terms of lifestyle and earning. It seems the relatively low cost of living in Wales has helped somewhat, as spending power is boosted compared to more pricey parts of the UK. The survey looked at the average salary in each area - the earning power - and then took into consideration the local cost of living to show the 'cost of living adjusted income' (COLA). The average COLA salary in the Vale of Glamorgan is boosted to pounds 32,522 although the actual average salary is pounds 23,352. This boost places it 47th highest in England and Wales. Monmouth came in second in Wales at pounds 31,576 (actual pounds 22,672), Cardiff North was third at pounds 31,310 (actual pounds 22,481) and Bridgend was fourth at pounds 29790 (actual pounds 21,390). Nationally, Kensington and Chelsea in London has the highest 'real' salary at pounds 50,438. Despite the South East of England leading the way in the earning stakes it may not seem so rosy when the cost of living is added to the equation - and high- earners in London may not feel quite so wealthy when they consider the cost of housing, dining out and entertainment in the city. The Vale is nonetheless the only Welsh area to be included in the top 50 in the UK. However there may have been even more Welsh areas in the top 50, until the increase in house prices in parts of Wales over the past two years pushed up the cost of living relative to the rest of the UK.
The statistics were combined for Barclays Premier Banking, a service for these high-earners, the so-called 'affluentials'.See the full content of this document
Extract
Vale of Glamorgan Paved with Gold On the Roll of Wales' Affluentials
Mark Till, marketing director of Barclays Premier Banking, said, 'Simply looking at earnings would tell you that it is London and the South-East that is paved with gold.
'However, this is not the only factor which determines how wealthy any individual actually feels.'If the cost of living is factored into the equation to give a more realistic measure of p...See the full content of this document
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