Have you ever wondered what drives Scotland economically? or what industries make Scotland a success? Scotland has a thriving economy and may even be on its way to independence in the near future. Scotland has a variety of Industries that help them achieve their goals. Scotland’s key industries being: Renewable Energy, Life Sciences, Financial & Business Service Education, Gas & Oil, Food & Drink, Sustainable Tourism, Creative Industries, Electronic Technologies, Textiles. Scotland also has a number of natural resources that help with their economic independence one of them being High Winds for renewable energy. Scotland also has various mineral resources. Scotland is at a key point in their economic progression, with the finding of oil off …show more content…
With food and drink contributing nearly £16.5bn in turnover annually. The latest food and drink export figures show exports are at an all-time high of £5.4 billion, and growing. Whiskey is one of the highest food and drink exports Scotland has. Scotland exports 38 bottles of whiskey over seas a second and is known as the ‘Home of Whiskey’. Scotland is also one of the largest producers of sea food in Europe, another good reason why Scotland could succeed in becoming independent. Scotland exports Scottish salmon to over 60 countries …show more content…
Financial and business being one of them and are one of the top industries. Scotland is the EU’s 4th largest asset management center producing jobs for 97,000 people directly and 70,000 indirectly. Some of the leading companies to be housed in Scotland are RBS, Standard Life, Aberdeen Asset Management and AEGON. Scotland also houses a very successful life science industry with 650 organizations employing 35,000 people. They are also acclaimed to be leader in research, development and manufacturing. They were the pioneers of some great breakthroughs in science such as cloning, with the cloning of dolly the sheep and the development of the MRI scanners, they also led the way in discovering p53 which is a cancer suppressor gene used in the attempt to rid the world of this horrid disease. Another key industry that Scotland is recognized for is, their Education system with 19 universities creating and annual economic impact of £7.2bn. Most of Scotland’s higher education institutes work with over 226,000 companies every year to turn research and development into new products. Scotland scores higher in university-industry collaboration in R&D then other OECD countries like the US, Germany and