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Scotch whisky employees ‘more productive than City of London’, says new research
Scotch whisky has achieved record levels of productivity and the industry is now worth more than £4 billion to the Scottish economy.
New research carried out by 4-consulting on behalf of the Scotch Whisky Association (SWA) found that the industry is “experiencing a second golden age”.
In total Scotch Wwhisky adds £4.2bn to Scotland’s economy, made up of £2.9bn from the industry itself, with the remaining £1.3bn coming through the industry’s supply chain. The industry and supply chain support around 36,000 jobs in Scotland, which puts productivity at around £275,000 for each industry employee. This number means Scotch whisky outperforms most other industries, and the report claims Scotch whisky employees are adding 57% more value per head than workers in the City of London.
Gavin Hewitt, chief executive of the Scotch Whisky Association, said: “This new research is further evidence of the key role Scotch whisky plays in the Scottish economy. The demand for Scotch whisky is coming increasingly from the world’s fastest growing markets. In comparison with other Scottish industries, Scotch whisky already enjoys an enviable export position across a wide spread of emerging economies.
“The report shows Scotch whisky is likely to play an increasingly important role in Scotland¹s export markets. The momentum of growth needs to be better nurtured by both the UK and Scottish governments. Scotch whisky underpins their ambitions for export-led recovery.”
The research also found that Scotch whisky is a key factor in Scotland’s total international export markets, accounting for 55% of the growth since 2002. Scotch whisky exports are now worth more than £4bn a year, which puts it ahead of refined petroleum, which is worth £3bn and business services worth £2.5bn.
Scotch whisky producers have also committed to a further investment of £2bn in Scotland. The research, titled “Scotch Whisky & Scotland’s Economy – A 100-Year Blend” was commissioned by the SWA to mark its centenary.