Scotland is a part of the UK and its capital is Edinburgh which is its second largest city. Glasgow is the largest city in Scotland.
The economy of Scotland has close links with that of Europe and rest of the world. The traditional industries of Scotland are steel, coal mining and ship building; however, the services industry has boomed in the country in the last few decades. The city of Edinburgh has emerged as a major financial services center.
Export articles that make a significant contribution to the economy of Scotland are electronic items and whiskey. The major export markets of Scotland are the United States, France, Germany, Spain and Netherlands.
Scotland is one of the best countries in the world to invest your money in. this is because it offers skilled manpower, world class infrastructure and excellent research and development facilities. In the past, businesses that have invested in Scotland have been very successful.
The economy of Scotland is strong and diverse. It presents investors with many opportunities. Here are some industries which are booming in Scotland presently:
The aerospace industry of Scotland is growing at a rapid pace. An agency known as the Scottish Development International (SDI) is responsible for assisting investors and business organizations to gain maximum out of the Scottish aerospace industry.
The Scottish chemical industry includes pharmaceuticals and basic chemicals. These two sectors of the industry add value to the chemical market in Europe. The oil and gas found in the North Sea have played a major role in shaping the Scottish chemical industry.
Scotland has some of the best energy resources in the continent of Europe. The Scottish energy industry includes fields such as oil and gas, solar, wind, marine, bio energy and more. Some of the world's best energy companies are choosing to invest in Scotland because of potential of development and innovation.
One of the fastest growing sectors of the Scottish economy is the financial services arm. The financial services industry of Scotland includes banking, investment management general insurance and servicing. The industry enjoys a very extensive and well established infrastructure which has contributed tremendously to its growth. It supports over 10% of the total jobs in Scotland. Some of the best financial organizations in the world have operations in Scotland.
It is the best time to invest in the life sciences sector of the Scottish economy. The industry accounts for about 3 billion pounds for the Scottish economy. Scottish universities ensure a steady supply of talent pool and the government extends full support to life sciences businesses. The industry is growing at an impressive rate of 8% per annum.
Tourism is also an important sector of the Scottish economy. It contributes about 4.9 billion pounds to the economy every year and employs over 200,000 people. Opportunities for investment in this sector include resorts, hotels, spas and cultural tourism. Business tourism is also a rapidly growing sector in cities such as Edinburgh and Glasgow.
Many international corporations have recognized the potential of Scotland and have chosen to invest in this country.