Scotch whisky generates more value than City

By MARTIN FLANAGAN
Published on 28/12/2012 00:00

scotch whisky is now worth more than £4 billion to the Scottish economy and generates greater productivity than the City of London, independent research will assert today.

The report, Scotch Whisky & Scotland’s Economy – a 100 Year Blend, was commissioned by the Scotch Whisky Association to mark the trade body’s centenary this year.

The survey by independent research consultants, 4-consulting, will say that the industry is experiencing a second “golden age”.

It will say the total impact of Scotch whisky on Scotland’s economy is £4.2bn – made up of £2.9bn from the industry itself and £1.3bn through the supply chain.

The research claims that industry productivity has accelerated to £275,000 for each employee, which 4‑consulting claims is 57 per cent more value per head than workers in London’s financial Square Mile.

Scotch exports are worth more than £4bn a year, ahead of refined petroleum at £3bn and business services at £2.5bn, today’s report adds.

Gavin Hewitt, SWA’s chief executive, said: “This new research is further evidence of the key role Scotch whisky plays in the Scottish economy.”

Hewitt added that, in comparison with other Scottish industries, whisky “already enjoys an enviable export position across a wide spread of emerging economies.

“The report shows that Scotch whisky is likely to play an increasingly important role in Scotland’s export markets.”

MARTIN FLANAGAN