News and Views from Scotland

Scottish Tourism Flourishing

Edinburgh Castle - Scotland's Most Popular Tourist Attraction

Tourism leads an upbeat new assessment of the Scottish economy, with strong signs of recent growth and expectations of a positive start to 2017. The Royal Bank of Scotland Business Monitor shows transport and communications also performing well.

About 400 firms across a range of sectors in the Scottish economy were questioned.

The findings contradict other recent survey evidence suggesting confidence being hit by Brexit (the UK leaving the European Union) creating uncertainty.

The Royal Bank survey was carried out by the respected Fraser of Allander Institute at Strathclyde University, and balances those firms with positive results against those reporting negatively.

36% of firms reported an increase in total volume of business during the last quarter, compared to 25% which reported a fall. There were similar measures for new business, though firms in north-east Scotland reflected the continuing difficulties of winning business amid the downturn in the oil and gas sector.

Prof Graeme Roy, director of the Fraser of Allander Institute, added: "The volume of business activity is at its highest level in over a year with businesses reporting turnover at its highest level in over two years. That being said, expectations for turnover and investment are down on the quarter suggesting that the outlook for 2017, whilst improved, remains uncertain."

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January 2017

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