Reported in Insider yesterday, a survey by Savills revealed a massive £195 million investment in 2017. All of Scotland’s cities recorded increases with Edinburgh accounting for 64% of the total.
This makes Edinburgh the second largest ‘target city’ outside of London pushing Birmingham out of that position. Overseas investors accounted for £57.4 million of the total and, notably, invested seven times the 2016 figure. This is a major change.
Increases in tourism will be a factor in this – dramatic report coming.
This is one of several indicators of ‘real’ economic health in Scotland reported here in the last year. See:
77% of Scotland’s small and medium-sized businesses report success as Scottish Government reports record numbers exempt from rates and in the wake of figures revealing much greater signs of distress among rUK businesses.
Of course, our media prefer to report on GDP and GERS despite their demonstrable lack of value as measures. Both, in the Scottish case, are largely based on estimates which cannot be confirmed. GERS was, of course, initially developed as a political tool to undermine the case for Scottish independence while GDP is heavily criticised by academic economists as it tends to reflect mostly growth in profits for corporations and shareholders with little if any feeding into wages and consequent real economic growth for the benefit of the mass of the population. See this for more on GDP: