Economy of Edinburgh

Economy of Edinburgh
Quartermile, mixed use development including office space and retail units
CurrencyPound Sterling (£)
Country group
 Scotland
Economy of Scotland
Statistics
Population523,000 (2022)[1]
GDP£31.8 billion (2022)[2]
GDP per capita
£60,764 (2022) [3]
GDP by sector
Financial services, banking, insurance, national government, local government, public sector, gaming, software development, hospitality, tourism
Labour force
312,100 / 82.1% in employment (Jan 2023-Dec 2023)[a][4]
Labour force by occupation
List
  • 40.8% Professional Occupations
  • 19.4% Associate Professional Occupations
  • 9.4% Managers, Directors And Senior Officials
  • 7.5% Administrative & Secretarial Occupations
  • 6.0% Sales And Customer Service Occs
  • 5.4% Skilled Trades Occupations
  • 4.9% Caring, Leisure And Other Service Occupations
  • 4.8% Elementary Occupations
  • 1.8% Process Plant & Machine Operatives
  • (Jan–Dec 2023)[b][5]
Unemployment10,900 / 3.5% (Jan 2023-Dec 20234)[c][6]
Average gross salary
£720.70 per week (2023)[d][7]

Edinburgh, the capital city of Scotland, was ranked the 13th largest financial centre internationally and the 4th largest financial centre in Europe in 2020.[8] The economy of Edinburgh is recognised as a powerhouse of the Scottish economy, as well as the wider UK economy, being the second largest financial centre in the United Kingdom behind London.[9]

Edinburgh has been consistently one of the most prosperous parts of the country and has the strongest economy of any city in the UK outside London.[10] Financial Times FDi Magazine has named Edinburgh as the "Best Large European City of the Future" and "Best Foreign Direct Investment Strategy (Large City)" for 2012/13.[11]

The city is consistently ranked as one of Scotland's major industrial hubs, with an employment workforce of around 48,030 across the city.[12]

  1. ^ "Regional economic activity by gross domestic product, UK: 1998 to 2022". Office for National Statistics. Retrieved 17 July 2024.
  2. ^ "Regional economic activity by gross domestic product, UK: 1998 to 2022". Office for National Statistics. Retrieved 17 July 2024.
  3. ^ "Regional economic activity by gross domestic product, UK: 1998 to 2022". Office for National Statistics. Retrieved 17 July 2024.
  4. ^ "Labour Market Profile - Nomis - Official Census and Labour Market Statistics". www.nomisweb.co.uk. Retrieved 15 July 2024.
  5. ^ "Labour Market Profile - Nomis - Official Census and Labour Market Statistics". www.nomisweb.co.uk. Retrieved 15 July 2024.
  6. ^ "Labour Market Profile - Nomis - Official Census and Labour Market Statistics". www.nomisweb.co.uk. Retrieved 15 July 2024.
  7. ^ "Labour Market Profile - Nomis - Official Census and Labour Market Statistics". www.nomisweb.co.uk. Retrieved 15 July 2024.
  8. ^ "Edinburgh 4th in Europe in new Financial Centres index – Scottish Financial Review".
  9. ^ "Edinburgh Inspiring Capital". Edinburgh Inspiring Capital. 14 June 2023. Retrieved 15 July 2024.
  10. ^ Why Invest in Edinburgh "Invest in Edinburgh | Investment and Doing Business in Edinburgh Scotland". Archived from the original on 15 October 2013. Retrieved 27 October 2013. Edinburgh City Council Capital Review
  11. ^ ""FDi European Cities & Regions of the Future 2013"". Archived from the original on 24 March 2016. Retrieved 28 November 2013.
  12. ^ "Scotland retains status as the UK's second largest international financial hub - Scottish Business News". Scottish Business News. 5 September 2023. Retrieved 15 July 2024.


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