Manchester is set to become a major hub in the field of stem cell research and robotics in the biggest evolution of the economy since the Industrial Revolution.
This is the prediction of a new report published by HSBC, which claims that the northern city will benefit from a narrowing of the north-south divide, as well as an increase in remote working.
It states that the economic landscape will be redrawn around “next generation industries”, while traditional sectors such as manufacturing and farming will become less important.
Head of HSBC Commercial Banking Noel Quinn said: “This report unveils some positive new trends that could alter the shape of the working world tomorrow.”
Earlier this month, it was reported that Manchester could become the ‘Whitehall of the north’ thanks to plans to turn the disused Mayfield railway station into office space to house more than 5,000 civil service workers.
This could move a total of 6,000 civil service jobs out of London.