Perth City region: Economic Overview

Perth City Region is one of Scotland’s fastest growing areas, delivering a supportive and collaborative environment in which to start, grow or relocate your business to. From major PLCs, such as Highland Spring, Stagecoach and SSE (all headquartered in the city region), to the many innovative and market-leading across the region, the area performs strongly in a number of key economic sectors.

Food & Drink

With its growing population and enduring tourist appeal, Perth City Region is home to almost 1,000 food and drink businesses – the largest concentration for any city region in Scotland. Among the numerous restaurants in Perth itself, many showcase the fantastic local produce from Perthshire’s rich farmland, mountains, lochs and rivers.

Tourism

Whether for day trips or longer stays, Perth’s historic and cultural attractions ensure the area is always a firm favourite, attracting more than 1.9m tourists annually. Tourism accounts for around 12% of total employment in the area, and this is set to increase.

Retail

Perth city offers a truly unique and distinctive opportunity to retailers. Its proposed growth will supplement a current retail catchment population of 338,000, who live within a half hour drive time of the city centre and provide estimated core catchment expenditure of £631m annually.

Renewables and Clean Technology

With its easy access to world-leading research the Perth city region provides a hub of like-minded businesses to inspire and support commercial eco-innovation. National and international businesses are developing products and services here that will shape future best practice in resource efficiency.

Financial and Business Services

Perth is one of seven UK Centres of Excellence for insurance giant Aviva, where operations are focused on serving the company’s 13 million UK home insurance customers. The city’s reputation for financial expertise traces its origins back to the establishment of General Accident in the city in 1885. (Insurance accounts for one in four of the 8,000+ jobs within financial services in the region.)

Across all the key sectors, the area’s success is built on a highly attractive cost base and its highly skilled workforce, who will support your
business as it grows.

Employment

Employment by Broad Sector 2014, Perth & KinrossNumber in Employment%
Mining, quarrying & utilities2,2003
Manufacturing3,8006
Construction4,6007
Motor trades2,8004
Wholesale1,9003
Retail7,40012
Transport & storage2,1003
Accommodation & food services7,70012
Information & communication5001
Financial & insurance1,7003
Property1,0002
Professional, scientific & technical3,3005
Business services4,4007
Public admin & defence3,3005
Education4,6007
Health8,50013
Arts, entertainment, recreation & other3,3005
TOTAL63,900100

Source: Business Register and Employment Survey

Gross Value by Sector

Sector£m
Primary Industries*
Manufacturing171.6
Construction216.2
Wholesale, retail and repairs*
Transport and storage88.0
Accommodation and food service activities164.0
Information and communication35.2
Real estate activities54.0
Professional, Scientific and Technical Activities164.3
Administrative and support service activities115.3
Education, human health and social work activities72.0
Arts, entertainment and recreation51.3
Other service activities37.1
TOTAL2,574.0

Source: Office for National Statistics, Annual Business Survey* = data not available for publication

Labour Costs

SectorPerth City RegionScotland
Primary Industries£41,900£66,929
Manufacturing£26,725£36,174
Construction£26,023£26,950
Wholesale, retail and repairs£17,251£16,231
Transport and storage£31,222£33,118
Accommodation and food service activities£11,302£9,670
Information and communication£27,233£35,612
Real estate activities£18,883£19,167
Professional, Scientific and Technical Activities£25,585£32,373
Administrative and support service activities£17,122£21,385
Education, human health and social work activities£19,114£22,373
Arts, entertainment and recreation£13,471£15,712
Other service activities£13,783£15,325
TOTAL£20,738£24,591

Source: Office for National Statistics, Annual Business Survey

Economic Journals