Edinburgh still has the economic edge

Capital punches above its weight

Edinburgh is continuing to punch above its weight, despite the ongoing recession.

Although a relatively small European city region, Edinburgh is an economic powerhouse and generates £14.1 billion a year for the Scottish economy – around 15 per cent of GDP.

With more than 40 airlines providing over 100 direct flight routes to Edinburgh, the city continues to be a major attraction to visitors worldwide and a gateway to the rest of Scotland.

Our cultural status is world-renowned – ticket sales for the Edinburgh Fringe this year reached a record-breaking total of 1.85 million, up 21 per cent on last year. Hotel bed occupancy remains high, with tourism generating in the region of £2bn and supporting in excess of 25,000 jobs.

Attracting inward investment is a key priority. Despite economic difficulties, Edinburgh is still the UK’s second-largest financial sector and remains a world leader in stem cell research, robotics and life science industries.

The city also has one of the most highly qualified and skilled workforces in the country and a higher proportion of the local adult population possess more post-school qualifications than any other major UK city.

While economic uncertainties are still present and we face difficult budget decisions in 2010 (Click here for the budget story), the Council is doing its part to ensure Edinburgh remains competitive.

The recently established Destination Edinburgh Marketing Alliance has brought together the city’s top talents with skills and experience in business and leisure tourism, inward investment and talent attraction. And, if you’re facing an uncertain future, look out for our advertisements in this issue about the various ways the Council can help.