Local Economy Aberdeen and Grampian Aberdeen and Grampian is one of Scotland’s biggest success stories. As the centre of Europe’s oil and gas industry, the region is a key driver in the Scottish and UK economies with an aspirational business agenda and major opportunities for growth. The continuing strength of Aberdeen’s economy has consistently bucked national and international trends with its high wage, high levels of business start ups and consistently low levels of unemployment. Consistently ranked as one of the UK’s most competitive business bases, Aberdeen and Grampian offers a thriving, internationally-focused location, a highly skilled workforce, world class educational and healthcare facilities, a rich culture heritage and an outstanding quality of life. Among its many assets, the city has an international harbour and airport, major research institutes, a college of further education and two universities. It is a prestigious and thriving corporate community which includes many international companies. Businesses based in the region export to countries worldwide. The region’s key industry sectors include construction, education, engineering, farming, fishing and food processing, paper production, professional services, transport and tourism. The international oil and gas industry is its primary economic driver, directly employing some 137,000 people in Aberdeen and Grampian in 2006 and supporting jobs throughout the UK. It also promotes substantial investment, enterprise and technology development for UK companies in home and international markets and is a primary catalyst for diversification into lucrative new geographical and industry sectors. 1 Employment Forecasts published 2004 www.neser.org.uk/datasheet.cfm?datasheetid=84 Facts about the North East of Scotland: Grampian’s population is 437,8102 ; that is 8.6% of Scotland’s population Well qualified workforce and educated school leavers; a high proportion of school leavers progress to further or higher education. The NE Scotland consistently has one of the lowest rates of unemployment in the Scotland and the UK Grampian employees have high average earnings (over £540 in 20053 ), well above the Scottish average of £468 and higher than the equivalent British average. Strong oil and gas industry which presents opportunities for companies to diversify, develop new products and internationalise. Knowledge based industries, including technology, R&D, medical services are prospering with science and technology parks providing an impetus for the sector. House prices continue to increase4. The average price for a second hand home rose to £153,772 in the second quarter of 2006, compared to the average in Scotland of £121,558. A number of new routes and additional flights have been introduced at Aberdeen Airport, following the extension of opening hours. This eases business travel and it is anticipated that the new routes will attract additional visitors. Scottish tourism has attracted an additional £14 million funding for 2006/08 More visitors are expected within Aberdeenshire now that the Cairngorms National Park is being marketed as a major tourist attraction.5 2 Population Mid Year Estimates published May 2006 www.neser.org.uk/datasheet.cfm?datasheetid=32 3 Average Gross Weekly Earnings 2005 www.neser.org.uk/datasheet.cfm?datasheetid=28 4 Housing Market Bulletin 2nd Quarter 2006 http://digbig.com/4mswj 5 Aberdeen City and Shire Economic Review 2006 www.neser.org.uk/pdf/economicreview2006.pdf  » North East Industries
© 2008 Aberdeen and Grampian Chamber of Commerce PRIVACY POLICY - DISCLAIMER - HOME PAGE