Kent’s contribution to the UK economy grew ahead of the national average in the five years after the credit crunch, according to new research.

The county’s Gross Value Added (GVA) – the measure of its contribution to the nation’s economy – grew by 10.6% after the crash, beating the average of 9% across the country.

The performance was just enough to squeeze it into the top 50 fastest growing areas in the UK, ranked 49th out of 137 measured by chartered accountancy group UHY Hacker Young, which has an office in Sittingbourne.

However Kent’s actual GVA of £19,574 per person in 2013 was below the national average of £20,899.

UHY Hacker Young said the key driver behind Kent’s growth was the regeneration of areas like the Thames Gateway and Margate, with Dreamland reopening in the latter this summer.

Its popularity among commuters to London has also helped growth.

“While Kent has faced huge economic challenges since the credit crunch, it’s benefitted greatly from the increasing house prices in the London, which are convincing more and more professionals to move out to the suburbs..." - Allan Hickie, UHY Hacker Young

Allan Hickie, partner at UHY Hacker Young in Sittingbourne, said: “While Kent has faced huge economic challenges since the credit crunch, it’s benefitted greatly from the increasing house prices in the London, which are convincing more and more professionals to move out to the suburbs.

“This in turn has led to much needed regeneration and attracted new businesses to the area, which has provided both skilled and unskilled jobs to locals.

“However, there’s still much room for improvement. One way that the fastest-growing regions in the study have benefitted is by attracting significant employment in the manufacturing and logistics sectors, which provides unskilled jobs.

“Whilst we do have some established manufacturing and logistics companies located in Kent, capturing jobs in these sectors is something that the area has not yet managed to do on a big enough scale.

“Despite the High Speed 1 rail link providing access to London and the continent, there is certainly a lack of more general regional transport infrastructure.”

Derby had the largest GVA growth in the five years after the recession, up 23.2%. The highest GVA was recorded in West London at £135,890.