City’s Chamber of Commerce champions future of Edinburgh - Donald Anderson

The Edinburgh City Region, a population of 800,000 people, is ranked the sixth highest in Europe for GDP per capita

At the ‘Future Edinburgh’ event will be key figures, including the city’s new Chief Executive Paul Lawrence and Michelle Percy, Director of Investment and Growth at Newcastle City Council, from whom we can learn lessons in creating a more dynamic and successful city.

The event is part of a growing debate fostered by the Chamber about Edinburgh’s future and how to strengthen the city’s economy to deliver jobs and prosperity.

Edinburgh’s economy is the strongest city economy in the UK outside London and is a success story of public/private partnership.

People understand that the city is successful, but few understand just how successful Edinburgh is. The Edinburgh City Region, a population of 800,000 people, is ranked the sixth highest in Europe for the key measure of GDP per capita – that’s basically the cash value and taxes created per person with any subsidies deducted.

Edinburgh residents are also the second most qualified of any city in Europe, just behind London. These figures come from a comprehensive analysis of European cities by the Resonance consultancy, which aims to produce the best assessment of world cities and which is highly regarded.

This week I replied to a request from a school for information about regeneration in Leith. I always make a point of responding positively to requests for information from schools or more regularly students looking for information.

One question I was asked is what benefits there are from developments for the residents as compared to benefits for businesses.

I was happy to respond. Edinburgh’s private sector plays a key role in improving the lives of every community and every resident in the city. That is not to underplay the role of the council, which has more than played its part in Edinburgh’s modern success.

In simple terms, private sector success makes Edinburgh residents better off. Average pay is higher in Edinburgh than it is in every other UK city except London. That success also means that unemployment is very low in Edinburgh. It is easier for Edinburgh residents to get jobs and to get better paid jobs because of the city’s success in finance, hospitality, and tourism.

Indeed, in the city’s 900th year it is worth noting that no previous generation of Edinburgh residents have lived longer, healthier or wealthier lives than this generation. No previous generation of children born in the city has ever had the life chances and opportunities available to children being born today in Edinburgh.

In terms of Leith, it has gone directly from being the home of Trainspotting to being acclaimed as one of the best places to live in Britain.

But what’s important about the event organised by the Chamber is the determination to do better and secure an even more prosperous city. The Chamber works actively to help tackle the scourges of homelessness and drug abuse, bringing the private sector together with key players working on these issues like Cyrenians.

The Chamber of Commerce and the city’s businesses should be praised for playing a major part in that success and for seeking to further improve Edinburgh.

The event in October will set out an ambition to make one of the best cities in the world even better.