STIRLING'S economy is set to outgrow that of Glasgow and other major cities over the next three years.
The UK regional economic forecast from Ernst & Young (E&Y) found that Stirling’s economy will grow by an annual average of 1.7% in Gross Value Added (GVA) between 2025 and 2028, putting the city joint first in Scotland alongside Edinburgh and ahead of major cities such as Glasgow.
The study also found that Stirling’s economy is set to be among the top four for growth in the UK, which the same rate of expected GVA growth as London and Belfast.
GVA measures the production of goods and services and is an important indicator of overall economic performance.
The new research also shows that Stirling also features in the UK’s top 10 performing major cities and local authorities for projected employment growth over the same three-year period.
Commenting, Stirling Council leader Gerry McGarvey said: “This research shows that Stirling is among the fastest-growing economies not just in Scotland but across the UK, which is absolutely fantastic news.
“This is testament to the drive, skills and talent of the founders, leaders and teams who propel Stirling’s economy every day.
“Stirling is rooted in the heart of Scotland and these findings confirm our place at the beating heart of the innovation economy.
“We may be one of the most compact cities but our area punches well above its weight.”
The study projected job growth of 1.4% in tech-led activities in Stirling, as McGarvey pointed towards the area’s focus on the creative and technological industries.
McGarvey added: “We already have the highest proportion of our local workforce employed in creative industries of any Scottish local authority – and the second highest in digital tech. We have a top-rated university, college and are home to the UK’s largest tech incubator in Codebase.
“Major investments, such as the transformation of our city centre Forthside site, which will include one of Scotland’s largest film studio campuses, will only increase opportunities for businesses to start, scale, innovate and locate here.
“Stirling is perfectly positioned for businesses to take full advantage of all Scotland has to offer – with our strategic location, excellent transport links, highly-skilled workforce, supply chains and collaborative networks.”
