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Aberdeen named as one of key cities to aid UK’s economic recovery

A new report has named Aberdeen as one of five cities best placed to aid the UK’s economic recovery.

Cities Outlook 2012, which is the authoritative economic index of the 64 largest cities and towns in the UK, identified the Granite City as being well placed to drive the national recovery.

The report identifies those that are vulnerable to further economic stagnation and the cities, including Aberdeen, where vital signs of economic growth are likely to be evident.

The report praises Aberdeen’s ability to drive the national economic recovery in the difficult economic climate thanks to its high number of business start ups and larger pool of highly skilled residents.

The reports findings reveal that in 2010 Aberdeen was the only city in the UK to have more businesses launching than closing following an increase in business start-ups from 37 per 10,000 in 2009 to 47.7 per 10,000 in 2010.

The city also boasts one of the highest number of residents educated to degree level with 43.5% of the working age population having obtained some form of degree qualification.

Aberdeen City Council Director of Enterprise, Planning and Infrastructure Gordon McIntosh said: "This report highlights how Aberdeen is one of the major drivers of the Scottish and UK economies, with a world-class concentration of technological and academic excellence and a highly skilled workforce.

"We must continue to work closely with colleagues across the public and private sectors to keep our infrastructure competitive, attract investment and new business to ensure the city continues to flourish."

Councillor Kate Dean, convener of Enterprise, Planning and Infrastructure, said: “These results demonstrate once again that Aberdeen is one of the most economically resilient cities in Britain and reinforce the importance of cities to the UK's recovery and future prosperity.

"We are clearly living in difficult economic times but this report highlights what a great track record Aberdeen has in attracting new business to the area as well as the talented workforce we have. It's vitally important this growth is maintained for the region and the country's recovery."

The cities report, which is in its fifth year, sets out how the 64 different towns and cities are set to fare through the challenging economic circumstances in the year ahead.

Alongside Aberdeen it lists Cambridge, Edinburgh, London and Milton Keynes as the cities best placed to aid the economic recovery.

Centre for Cities Chief Executive Alexandra Jones said: “The year ahead is going to be tough for all UK cities but Cities Outlook 2012 shows that some cities are well-placed to kick-start economic growth.

“However, some cities have been hit particularly hard by recession and the gap between cities is widening. This makes it vital that government policy is tailored to meet the needs of each city rather than one-size-fits-all.”

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