Glasgow

:For other uses, see Glasgow (disambiguation)

Economy

Glasgow is the largest economy in Scotland and is at the hub of the metropolitan area of West Central Scotland which has a total population of over 2.6 million. The city itself sustains more than 410,000 jobs in over 12,000 companies. Around 53,000 jobs have been created in the city since 1995 - a growth rate of 16%. 25% of the residents in the greater Glasgow area commute to the city every day. Maunufacturing industries such as shipbuilding and heavy engineering have been gradually replaced by a modern mixed economy, supported by public and private investment and a flexible workforce.

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Glasgow's economy is now dominated by service sector industries such as finance and banking, public administration, education, healthcare, hotels and tourism. Between 1998 to 2001, the city?s burgeoning financial service sector grew at a rate of 30%.

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The city retains a strong link to the manufacturing sector which forms the fourth largest manufacturing centre in the UK, accounting for well over 60% of Scotland?s manufactured exports, with particular strengths in shipbuilding, engineering, food and drink, printing, publishing, clothing and textiles as well as new growth sectors such as software and biotechnology. 20% of the UK?s biotechnology sector is based in and around Glasgow, which is the UK?s third largest Biotechnology centre after Cambridge and London. Glasgow also forms the western part of Silicon Glen which produces over 30% of Europe's PC's, 80% of its Workstations, and 65% of its ATM's. A growing number of Blue Chip companies are also basing major operations or headquarters in Glasgow, including BT, Abbey, National Australia Group Europe, Royal Bank of Scotland, HBOS, Scottish Mutual Assurance, Scottish Power, JP Morgan, Morgan Stanley, Barclays Bank and Lloyds TSB. Glasgow-based Scottish Power is one of three Scottish companies to be included on the Fortune Global 500 rankings. These names rub shoulders with the more well established firms, which represent traditional sectors of Glasgow's economy, including; Diageo, Allied Domecq, William Grant & Sons, Pernod Ricard, AG Barr, Tennent Caledonian Breweries, Whyte and Mackay, Justerini and Brooks Whisky, House of Fraser, MacFarlane Group, HarperCollins, John Menzies, BAE Systems, Rolls-Royce Aero Engines, Imperial Chemical Industries, Weir Group, and Aggreko Engineering.

Related Topics:
Biotechnology - Silicon Glen - BT - Abbey - National Australia Group Europe - Royal Bank of Scotland - HBOS - Scottish Mutual Assurance - Scottish Power - JP Morgan - Morgan Stanley - Barclays Bank - Lloyds TSB - Fortune Global 500 - Diageo - Allied Domecq - William Grant & Sons - Pernod Ricard - AG Barr - Tennent Caledonian Breweries - Whyte and Mackay - Justerini and Brooks Whisky - House of Fraser - MacFarlane Group - HarperCollins - John Menzies - BAE Systems - Rolls-Royce Aero Engines - Imperial Chemical Industries - Weir Group - Aggreko Engineering

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Over the last two decades Glasgow has radically improved to become an attractive city to live, work and play. Major business developments have helped promote its reputation as a leading centre for business and commerce.

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Glasgow is the third most popular foreign tourist destination in the UK, after Edinburgh, the Scottish capital, which ranks second, and London the U.K. capital. The city also boasts the UK's second largest and most economically important commerce and retail district after London's West End. It also has two international airports and two major national railway terminals which provide train services throughout the United Kingdom. Glasgow is one of Europe's top 20 financial centres and is home to many of Britain's leading businesses. Glasgow today is an important part of the British economy.

Related Topics:
Edinburgh - London - British economy

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