Belfast, the birthplace of the Titanic, has a storied tradition of engineering ingenuity and industrial progress. The city has continually reinvented itself from the famed Harland & Wolff shipyards, where one of history’s most iconic vessels took shape, to its prosperous modern economy. Today, Belfast is at the helm of fintech and cybersecurity innovation, driving advancements in technology. A magnet for foreign firms from Europe and the US, and a launchpad for ambitious startups, it has spent the past two decades shaping an ecosystem propelled by research, innovation, and enterprise.
Belfast’s economic momentum is being steered by key industries powering its global standing. The city’s engineering and advanced manufacturing expertise is driving innovation in state-of-the-art facilities, incorporating cutting-edge robotics, machine learning, and electronics. The creative and digital industries are increasingly integral to Belfast’s identity, with companies producing world-class television programming, such as Game of Thrones, and pioneering virtual and augmented reality technologies.
In addition, financial and professional services have flourished, attracting a diverse range of companies due to the city’s digital capabilities and talented workforce. The city is rated as the world’s top international investment location for US cyber security firms and the number one location globally for FinTech inward investment. Belfast hosts several international financial services firms, along with technology titans like NVIDIA and Microsoft, which have established substantial cybersecurity operations in the region.
As well, the life and health sciences sector has gained significant prominence, with Belfast emerging as a leading hub for technological innovation.
The city’s beauty and history also attract a growing tourism sector. Belfast is cradled by the Belfast Hills and overlooks Belfast Lough. Literary connections run deep—Jonathan Swift’s Gulliver’s Travels is said to have been inspired by the Sleeping Giant formation seen from the city’s east.
A conversation with John Walsh, Chief Executive of Belfast City Council
What factors contribute to Belfast’s attractiveness as a business destination?
Belfast has a vibrant business ecosystem, with a mix of local and international companies. The city’s two world-class universities, Ulster University and Queen’s University Belfast, and other third-level colleges cater to over 50,000 students each year, providing a steady talent pipeline.
Belfast is a cost-effective alternative to other European hubs like London and Dublin, making it an attractive base. This supportive ecosystem has led to long-term investment. For instance, over 70% of companies reinvest and expand their operations once in Belfast. Citibank, for example, initially planned for a few hundred jobs but has grown to employ over 4,000 people locally, citing workforce quality, resilience, and loyalty as key factors.
How are innovative companies in Belfast making a global impact?
Innovative companies in Belfast are making significant strides in industries with global impact. Catagen, based in the Titanic Quarter of Belfast, started by testing catalytic converters for high-end cars using clean technology. It has since expanded into e-fuels, positioning itself for further growth while helping industry become more sustainable. Another company, Ionic, is tackling the essential issue of battery recycling, particularly for electric vehicles, an increasingly critical industry.
Artemis Technologies, a company developing zero-emission hydrofoil tech for maritime transport vessels, is set to pilot a hydrofoil water taxi service between Bangor and Belfast, utilizing cutting-edge technology originally developed for racing yachts. This innovation holds promise for broader applications, such as for New York’s Staten Island Ferry.
From the creation of Viagra to the development of ejector seats, Belfast has consistently embodied a spirit of ingenuity and forward-thinking.
What is the Belfast Agenda?
The Belfast Agenda is a community-driven plan co-created by the city, its residents, and key stakeholders. It prioritizes inclusive growth and shared prosperity, recognizing its role in fostering social cohesion and long-term stability. Every investment made through this framework aims to strengthen economic opportunities and cement peace in the city.
Tourism is a key focus, with the Belfast Stories project set to become a major attraction. While many visitors currently stay for just a day or a single night, this development aims to draw them into the heart of Belfast, encouraging longer stays. By connecting tourists with community-based experiences across the city, the project seeks to deepen engagement and showcase Belfast beyond its most famous landmarks.
The Belfast Region City Deal is also driving investment into high-performing sectors. The Center for Digital Health and Technology is promoting medical device and diagnostics innovation with strong ties to Boston. Another promising venture is Momentum One Zero championing emerging technologies.
Our overall strategic approach, encapsulated in the Belfast Agenda, is already paying dividends in terms of inclusive growth. Belfast is a great place to live, to work and it also offers superb opportunities for business and investment.
