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Economy of Edinburgh
Edinburgh, the capital city of Scotland, was ranked the 13th largest financial centre internationally and the 4th largest financial centre in Europe in the Global Financial Centres Index in 2020. 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.
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. In 2023, its gross domestic product per capita of £69,809 surpassed London's for the first time. 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.
The city is consistently ranked as one of Scotland's major industrial hubs, with an employment workforce of around 48,030 across the city.
Banking has been a mainstay of the Edinburgh economy for over 300 years, since the Bank of Scotland was established by an act of the Scottish Parliament in 1695. Today, the financial services industry, with its particularly strong insurance and investment sectors, and underpinned by Edinburgh-based firms such as Scottish Widows and Standard Life Aberdeen, accounts for the city being the UK's second financial centre after London and Europe's fourth in terms of equity assets.
The NatWest Group (formerly Royal Bank of Scotland Group) opened new global headquarters at Gogarburn in the west of the city in October 2005. In the 19th century, Edinburgh's economy was known for banking and insurance, publishing and printing, and brewing and distilling. Today, its economy is based mainly on financial services, scientific research, higher education, and tourism.
The table below shows the top employers in terms of employee numbers in the City of Edinburgh:
This next table highlights the number of people in employment in the City of Edinburgh by industrial sector:
Edinburgh is the second largest financial centre in the United Kingdom, after the City of London, and the fourth in Europe by equity assets.
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Economy of Edinburgh
Edinburgh, the capital city of Scotland, was ranked the 13th largest financial centre internationally and the 4th largest financial centre in Europe in the Global Financial Centres Index in 2020. 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.
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. In 2023, its gross domestic product per capita of £69,809 surpassed London's for the first time. 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.
The city is consistently ranked as one of Scotland's major industrial hubs, with an employment workforce of around 48,030 across the city.
Banking has been a mainstay of the Edinburgh economy for over 300 years, since the Bank of Scotland was established by an act of the Scottish Parliament in 1695. Today, the financial services industry, with its particularly strong insurance and investment sectors, and underpinned by Edinburgh-based firms such as Scottish Widows and Standard Life Aberdeen, accounts for the city being the UK's second financial centre after London and Europe's fourth in terms of equity assets.
The NatWest Group (formerly Royal Bank of Scotland Group) opened new global headquarters at Gogarburn in the west of the city in October 2005. In the 19th century, Edinburgh's economy was known for banking and insurance, publishing and printing, and brewing and distilling. Today, its economy is based mainly on financial services, scientific research, higher education, and tourism.
The table below shows the top employers in terms of employee numbers in the City of Edinburgh:
This next table highlights the number of people in employment in the City of Edinburgh by industrial sector:
Edinburgh is the second largest financial centre in the United Kingdom, after the City of London, and the fourth in Europe by equity assets.