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Bournemouth's economy is characterised by its diverse and dynamic service sector, which has seen rapid development over the past twenty years. Capitalising on the trends in modern business activity has made the town one of the most prosperous areas of the UK. A number of world-class firms have seen the advantages in recent years of relocating to an area which combines a large pool of skilled workers with a high quality of life for their employees. The region's prosperity means that potential demand is high, and businesses in the town have access to a local market of some 435,000 residents.