Today’s publication of EY’s annual Attractiveness Survey has brought some very welcome news. Scotland has maintained its run of annual record FDI and consolidated its position as the UK’s most attractive FDI destination outside London.
In particular, the positive 56% growth of digital FDI, has provided positive affirmation of our collective efforts to position Scotland’s digital strengths and Edinburgh’s growing reputation as the data capital of Europe.
Not only is Scotland producing its own home-grown global data driven businesses like Fanduel and Skyscanner, but as today’s figures show, increasingly it is securing higher levels of foreign direct investment in the field of data as more and more global investors are drawn to locate in Scotland to tap into its rich data-friendly business environment.
Our globally competitive assets like the School of Informatics at Edinburgh University, the leading Data Lab innovation centre and our fast growing and thriving industry cluster all stand Scotland is good stead to realise the £20 billion economic opportunity estimated to be up for grabs from exploitation of data.
With focused investment in skills, leadership, innovation and infrastructure, I’m confident that Scotland will attract further global players to Scotland, will produce more globally successful Scottish data driven businesses and see more Scottish SMEs boost export performance, drive efficiency and become more productive through data innovation.