This article needs to be updated.(July 2017) |
The economy of Belfast, Northern Ireland was initially built on trade through Belfast Harbour. Later, industry contributed to its growth, particularly shipbuilding and linen. At the beginning of the 20th century Belfast was both the largest producer of linen in the world [1] and also boasted the world's largest shipyard. [2] Civil unrest impacted the city's industry for many years, but with the republican and loyalist ceasefires of the mid-1990s, Good Friday Agreement and the St Andrews Agreement in 2006, the city's economy has seen some resurgence once again.
When the population of Belfast town began to grow in the 17th century, its economy was built on commerce. [3] It provided a market for the surrounding countryside and the natural inlet of Belfast Lough gave the city its own port. The port supplied an avenue for trade with Great Britain and later Europe and North America. In the mid-seventeenth century, Belfast exported beef, butter, hides, tallow and corn and it imported coal, cloth, wine, brandy, paper, timber and tobacco. [3] Around this time, the linen trade in Northern Ireland blossomed and by the middle of the eighteenth century, one fifth of all the linen exported from Ireland was shipped from Belfast. [3] The present city however is a product of the Industrial Revolution. [4] It was not until industry transformed the linen and shipbuilding trades that the economy and the population boomed. By the turn of the nineteenth century, Belfast had transformed into the largest linen producing centre in the world, [1] earning the city and its hinterlands the nickname "Linenopolis" during the Victorian Era and into the early part of the 20th century. [5] [6] 100,000 people in the city, mainly women, were employed in its linen trade by the 1900s and 1910s, [5] although shipbuilding had overtaken it to become the dominant industry since the 1870s. [6]
Belfast harbour was dredged in 1845 to provide deeper berths for larger ships. Donegall Quay was built out into the river as the harbour was developed further and trade flourished. [7] The Harland and Wolff shipbuilding firm was created in 1861 and by the time the Titanic was built in Belfast in 1912, they boasted the largest shipyard in the world. [2]
The rise of mass-produced and cotton clothing following World War I were some of the factors which led to the decline of Belfast's international linen trade. [1] Like many UK cities dependent on traditional heavy industry, Belfast suffered serious decline since the 1960s, exacerbated greatly in the 1970s and 1980s by the civil unrest of The Troubles. More than 100,000 manufacturing jobs have been lost since the 1970s. [8] For several decades, Northern Ireland's fragile economy required significant public support from the British exchequer of up to £4 billion per year. [8] Ongoing sectarian violence made it difficult for Belfast to compete with Ireland's Celtic Tiger economy, with Dublin producing some 70bn Euro GDP annually. [8]
The IRA Ceasefire in 1994 and the signing of the Good Friday Agreement in 1998 gave investors increased confidence to invest in Belfast.[ citation needed ] This led to a period of sustained economic growth and large-scale redevelopment of the city centre.[ citation needed ] New developments included Victoria Square, the Cathedral Quarter, and the Laganside with the new Odyssey complex and the Waterfront Hall.
Two other major developments included the Titanic Quarter regeneration, and the erection of the Obel Tower. [9] In 2007, Belfast launched its vision for a World Trade Centre (currently[ needs update ] a 'virtual' centre but with plans to become a physical building) which ostensibly aimed to promote the city to the international business market. [10] [ needs update ]
As of 2017, Belfast is Northern Ireland's educational and commercial hub.[ citation needed ] As of 2007, it was in the top five fastest growing regional economies in the UK. [11] In February 2006, Belfast's unemployment rate stood at 4.2%, lower than both the Northern Ireland [12] and the UK average of 5.5%. [13] [ needs update ] Over the past 10 years employment has grown by 16.4 per cent, compared with 9.2 per cent for the UK as a whole. [14]
Northern Ireland's peace dividend has also led to soaring property prices in the city. In 2006, Belfast saw house prices grow by 43%, the fastest rate of growth in the UK. [15] In March 2007, the average house in Belfast cost £191,819, with the average in South Belfast being £241,000. [16] In 2004, Belfast had the lowest owner occupation rate in Northern Ireland at 54%. [17]
Peace has also boosted the numbers of tourists coming to Belfast. There were 6.4 million visitors in 2005, which was a growth of 8.5% from 2004. The visitors spent £285.2 million, supporting over 15,600 jobs. [18] The city's two airports have also made the city into one of the most visited weekend destinations in Europe. [19]
The 32 Vestas V164 8MW wind turbines for the 256 MW Burbo Bank Offshore Wind Farm extension are to be assembled in Belfast. [20] [21] [22]
Due to the ongoing COVID-19 Pandemic, the economy of Belfast has experienced a decline, according to PricewaterhouseCoopers. [23]
Area | Population | GDP € | GDP per person € |
---|---|---|---|
Belfast city only | 333,000 | €43 bn | €48,300 |
Outer Belfast only | 390,000 | €7.3 bn | €18,800 |
Greater Belfast | 720,000 | €21 bn | €33,550 |
Dublin | 554,554 | €72 bn | €57,200 |
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Belfast is the capital and largest city of Northern Ireland, standing on the banks of the River Lagan on the east coast. It is the 12th-largest city in the United Kingdom and the second-largest in Ireland. It had a population of 345,418 in 2021.
Harland & Wolff is a British shipbuilding company based in Belfast, Northern Ireland. It specialises in ship repair, shipbuilding and offshore construction. Harland & Wolff is famous for having built the majority of the ocean liners for the White Star Line, including Olympic-class trio – RMS Olympic, RMS Titanic and HMHS Britannic. Outside of White Star Line, other ships that have been built include the Royal Navy's HMS Belfast; Royal Mail Line's Andes; Shaw, Savill & Albion's Southern Cross; Union-Castle's RMS Pendennis Castle; and P&O's Canberra. Harland and Wolff's official history, Shipbuilders to the World, was published in 1986.
Events in the year 1911 in Ireland.
Events in the year 1910 in Ireland.
Events in the year 1906 in Ireland.
Belfast Castle is a mansion located in Cave Hill Country Park in Belfast, Northern Ireland, in a prominent position 400 feet (120 m) above sea level. Its location provides unobstructed views over the City of Belfast and Belfast Lough. There have been several different structures called 'Belfast Castle' over the centuries, located on different sites. The current 'castle' is a Victorian structure, built between 1867 and 1870 on the slopes of Cave Hill, and is listed as being Grade B+. The main entrance into the Belfast Castle Demesne is now where Innisfayle Park meets Downview Park West, just off the Antrim Road. The original main entrance into the current demesne was formerly on the Antrim Road itself, where Strathmore Park now meets the Antrim Road.
Belfast City Hall is the civic building of Belfast City Council located in Donegall Square, Belfast, Northern Ireland. It faces North and effectively divides the commercial and business areas of the city centre. It is a Grade A listed building.
The economy of Northern Ireland is the smallest of the four constituents of the United Kingdom and the smaller of the two jurisdictions on the island of Ireland. At the time of the Partition of Ireland in 1922, and for a period afterwards, Northern Ireland had a predominantly industrial economy, most notably in shipbuilding, rope manufacture and textiles, but most heavy industry has since been replaced by services. Northern Ireland's economy has strong links to the economies of the Republic of Ireland and Great Britain.
The Cathedral Quarter in Belfast, Northern Ireland, is a developing area of the city, roughly situated between Royal Avenue near where the Belfast Central Library building is, and the Dunbar Link in the city centre. From one of its corners, the junction of Royal Avenue, Donegall Street and York Street, the Cathedral Quarter lies south and east. Part of the area, centred on Talbot Street behind the cathedral, was formerly called the Half Bap. The "Little Italy" area was on the opposite side of Great Patrick Street centred on Little Patrick Street and Nelson Street.
The Ireland national football team represented the island of Ireland in association football from 1882 until 1950. It was organised by the Irish Football Association (IFA), and is the fourth oldest international team in the world. It mainly played in the British Home Championship against England, Scotland and Wales. Though often vying with Wales to avoid the wooden spoon, Ireland did win the Championship in 1914, and shared it with England and Scotland in 1903.
The Belfast quarters are distinctive cultural zones within the city of Belfast, Northern Ireland, whose identities have been developed as a spur to tourism and urban regeneration. These "quarters" differ from the traditional districts into which Belfast is divided.
Events during the year 1929 in Northern Ireland.
Events during the year 1928 in Northern Ireland.
Events during the year 1924 in Northern Ireland.
Events from the year 1742 in Ireland.
The buildings and structures of Belfast, Northern Ireland comprise many styles of architecture ranging from Edwardian through to state-of-the-art modern buildings like the Waterfront Hall. The city's beautiful Edwardian buildings are notable for their display of a large number of sculptures. Many of Belfast's Victorian landmarks, including the main Lanyon Building at Queens University in 1849, were designed by Sir Charles Lanyon.
Transportation systems in the city of Belfast, Northern Ireland include road, air, rail, and sea. It is still a relatively car dependent city however it is also served by a comprehensive rail and bus network. Belfast also ran electric trams prior to 1954. The city has two major airports and the Port of Belfast is the busiest ferry port on the island of Ireland.
The Linen Quarter is a vibrant area of Belfast city centre. The name is derived from the great many linen warehouses that are still present in the area. The Linen Quarter is host to some of the major cultural venues of Belfast, including the Ulster Hall and Grand Opera House, alongside a large number of hotels, bars, restaurants and cafes. The district also includes the main transport hub of Belfast.
TitanicBelfast is a visitor attraction opened in 2012, a monument to Belfast's maritime heritage on the site of the former Harland & Wolff shipyard in the city's Titanic Quarter where the RMS Titanic was built. It tells the stories of the Titanic, which hit an iceberg and sank during her maiden voyage in 1912, and her sister ships RMS Olympic and HMHS Britannic. The building contains more than 12,000 square metres (130,000 sq ft) of floor space, most of which is occupied by a series of galleries, private function rooms and community facilities.
Cliftonville Cricket Ground was a sports ground in Belfast, Northern Ireland. It was previously used for cricket, football and hockey, hosting a football international in 1887, but was closed following sectarian attacks in 1972. It is now owned by Belfast City Council and used for Gaelic games.