Investment follows talent, and Wales must prioritise skills development to secure economic growth, according to Robert Lloyd Griffiths, director in Wales of the ICAEW. Writing after attending the Welsh Government's Skills Summit in Swansea, he argues that sustainable prosperity depends on people and the collective commitment to develop their capabilities.
Skills Summit Highlights Workforce Challenges
The summit, held earlier this month, brought together employers, educators and policymakers to discuss how Wales can develop the workforce needed for the future economy. Griffiths notes that businesses across Wales face pressures including rising costs, productivity challenges, technological change and shifting labour market demands.
Opportunities are emerging in advanced manufacturing, green industries, digital technology, professional services and life sciences, with the common need for skilled people. The accountancy profession, he says, illustrates why skills matter, as modern chartered accountants help organisations manage risk, support investment decisions, navigate regulatory change, embrace technology and drive productivity improvements.
Lifelong Learning and WorldSkills Finals
Griffiths stresses that the skills agenda is not only about young people entering the workforce, but also about helping existing workers adapt to changing technologies and business models. As artificial intelligence, automation and digital transformation reshape workplaces, lifelong learning becomes more important than ever.
Next month, Cardiff and Vale College will host the WorldSkills UK National Finals, bringing together talented learners and apprentices from across the UK to demonstrate skills in disciplines including engineering, cyber security, hospitality and creative industries. Griffiths says the significance of hosting WorldSkills should not be underestimated, as it sends a message that skills, technical excellence and professional achievement deserve recognition.
Investment Follows Talent
While economic debates have focused on attracting investment and supporting enterprise, Griffiths argues that businesses locate and expand where they can access skilled people, and that strong skills systems create stronger economies. He calls for continued investment in people, lifelong learning and collaboration between education and employers to build a more productive, innovative and resilient economy.
The discussions in Swansea demonstrated a shared commitment to that goal, the WorldSkills Finals in Cardiff will showcase its potential, and the opening of the new Senedd term provides an ideal moment to reaffirm why it matters. The future success of Wales, he concludes, will be shaped by the collective decisions made today to develop the knowledge, capabilities and confidence of its people.
