22nd State of the City Economy Conference

Renfrewshire North and West MSP and Economy Secretary for the Scottish Government, Derek Mackay, announced that a plan will be developed to maximise the full economic potential along the River Clyde for Renfrewshire, Inverclyde, the city of Glasgow and the wider region.

Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce reflects on the Conference in this blog.

Key Facts: Business

  • Home to 20,000 businesses
  • 35% increase between 2009-2019 compared to Scottish average of 22.5%
  • Business Start-up rate is 30% higher than Scottish average
  • Top 10 European City for Business, Friendliness and Connectivity

Key Facts: Economy & Jobs

  • Contributes £20 billion to UK Economy
  • Unemployment figures lowest since 2008
  • Scotland’s Largest Workforce 410,000 jobs
  • Higher productivity than Scotland or UK avg. (GVA p/h worked)
  • Income inequality lower than UK or Scottish Avg.

Key Facts: Growing and Expanding City

  • Population: 621,020 in city (2017)
  • Metropolitan population forecast to grow by 175,000 by 2035 (UN)
  • Over the next 15 years, Glasgows metropolitan population will grow as fast as New York, LA and Paris (UN)

Key Facts: Culture and Leisure

  • UK’s top cultural & creative centre
  • Base to over 100 Cultural organisations
  • Our Museums have more visitors than any UK City outside London
  • No.1 Retail destination outside London West End
  • European Capital of Sport 2023

Key Facts: Education

  • 45.9% of working population education to degree level
  • 5 Higher Education institutions
  • 3 super colleges
  • Students from 140 countries
  • Top 50 City for International Students – 13,000 international students!

Key Facts: Inward Investment

  • Ranked 6th in UK for FDI (outside London)
  • Over £16 billion of capital investment since 2011 (EURO 18.4 billion)
  • Great Value City – Costs are competitive. Property Cost is 75% lower than London and labour cost 49% lower