High purchasing power and high wages mean that for each hour that we work we are able to buy more goods and services. And high returns mean that savers get rewarded when they take a risk or defer their spending and save for the future. If we are to meet this aspiration then we need to be an economy where value added is high.
We need to be able to produce a range of goods and services very efficiently and/or be able to sell goods and services at a premium price because of their quality, their uniqueness or some other favourable attribute. This is true right across the industry spectrum. It is true in advanced manufacturing. It is true in the tourism industry. It is true in agriculture.