Edinburgh’s economy outperforms London’s
The value of goods and services produced in Edinburgh per head of population has surpassed London’s for the first time, according to economic data recently published by the Office for National Statistics (ONS).
The figures reveal a gross domestic product (GDP) per capita of £69,809 in Edinburgh, compared to £69,077 for London.
Welcoming the news, City of Edinburgh Council Leader Jane Meagher said:
“Edinburgh has long been Scotland’s economic powerhouse and we’re now ahead of London for the first time. This is good news for our local businesses and employment, and shows the confidence global investors have in Edinburgh.
“In the last year alone, we’ve welcomed 27 developments funded by foreign direct investment (FDI), from shops like Søstrene Grene and MINISO to major renewable energy consultants PSC.
“We know that Edinburgh is one of the best places to live, work and study, making it a magnet for such investment and for tourism. This is the fastest growing city in Scotland, with more than 60,000 new residents expected over the next 20 years and over four million visitors every year.
“We are clearly contributing above average to the Scottish and UK economies and government should take note. Our challenge is to manage this growth, and ensure it is fair and sustainable. To keep thriving, we need to manage the pressures placed on our housing, environment, services and residents.
“Everyone should be able to benefit from Edinburgh’s continued economic success.”
