Private bank SG Hambros suggests that not only will the region play a major role in creating and fostering tomorrow’s wealth, but also that wealth generally will be spread more evenly across the country by 2015. The survey also says that the north west will become a popular destination, enjoying a significant upturn in terms of earnings potential as Liverpool and Manchester continue to flourish.

“The predicted growth of wealth outside of London and the south east is indicative of a changing pattern concerning enterprise,” says Phil McIlwraith, deputy managing director of SG Hambros. “Rising costs have led to a number of firms establishing their bases away from the capital and, going forward, they will clearly be able to take greater advantage of the lower operational costs, better quality of life and improved transport links that living and running a business outside London affords them.”

The qualitative and quantitative study was conducted by Datamonitor on behalf of SG Hambros and measured wealth creation by determining income, enterprise and property as the three main drivers of how wealth is created and sustained.

While the south east looks set to dominate wealth in the UK, the East Midlands is singled out as a region which will enjoy more than significant growth from enterprise and the forecast is that the number of start-up businesses in the region will grow quicker than anywhere else in the country.

In business terms, companies will be “able to take greater advantage of the lower operational costs, better quality of life and improved transport links that living and running a business outside London affords them”, continues McIlwraith.

Meanwhile, new businesses and entrepreneurs looking to invest in the property market should head to the north east, according to the study. The region currently has the lowest house prices across the UK but is these prices are rising faster than the national average.

McIlwraith concludes: “It's fascinating to see the impact that changing trends concerning income, enterprise and property ownership will have on different regions throughout the UK, and specifically where the future 'hotspots' for wealth creation and subsequent growth are likely to be. Our report clearly reveals that, while the south east will retain much of its wealth superiority, there will be some interesting areas to keep an eye on going forward, and the north-south divide so frequently alluded to will not be as clear-cut by 2015.”