Scotland in 2050: Realising Our Global Potential

Fraser of Allander Institute

    Research output: Book/ReportCommissioned report

    Abstract

    Scotland is a rich and prosperous nation. We rank highly on indicators of economic prosperity and compare well to other advanced economies and different parts of the UK. We have substantial natural resources, a skilled workforce and key strengths in sectors such as food and drink, tourism, energy and financial and professional services. But the last 10 years have not been without major challenges. Growth remains below trend and household earnings have been squeezed. Scotland has always been an open and global trading nation, and this will continue to be a key source of growth in the years ahead. But recent political and economic instability has helped to create a more uncertain outlook for the global economy. In an uncertain world, what are the risks and opportunities for Scotland? And what lessons can we learn from past experiences and the success of others to deliver a more prosperous future? This study summarises the key data on Scotland’s current economic performance – both domestically and internationally – and outlines a series of major global trends that we believe will shape Scotland’s future. Our aim is to start a conversation with businesses across Scotland to find out what works (and what doesn’t) and to offer an impartial assessment of the opportunities and risks that we face.
    LanguageEnglish
    Place of PublicationGlasgow
    PublisherUniversity of Strathclyde
    Number of pages21
    Publication statusPublished - 19 Mar 2019

    Fingerprint

    Scotland
    Prosperity
    Economic instability
    Tourism
    Economics
    Political instability
    Global economy
    Drinks
    Natural resources
    Household
    Financial services
    Workforce
    Economic performance
    Food
    Energy
    Professional services

    Keywords

    • economic output
    • Scotland
    • internationalisation
    • economics
    • Brexit
    • GDP
    • job creation
    • austerity
    • employment
    • Scottish economy
    • climate change

    Cite this

    Fraser of Allander Institute (2019). Scotland in 2050: Realising Our Global Potential. Glasgow: University of Strathclyde.
    Fraser of Allander Institute. / Scotland in 2050 : Realising Our Global Potential. Glasgow : University of Strathclyde, 2019. 21 p.
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    title = "Scotland in 2050: Realising Our Global Potential",
    abstract = "Scotland is a rich and prosperous nation. We rank highly on indicators of economic prosperity and compare well to other advanced economies and different parts of the UK. We have substantial natural resources, a skilled workforce and key strengths in sectors such as food and drink, tourism, energy and financial and professional services. But the last 10 years have not been without major challenges. Growth remains below trend and household earnings have been squeezed. Scotland has always been an open and global trading nation, and this will continue to be a key source of growth in the years ahead. But recent political and economic instability has helped to create a more uncertain outlook for the global economy. In an uncertain world, what are the risks and opportunities for Scotland? And what lessons can we learn from past experiences and the success of others to deliver a more prosperous future? This study summarises the key data on Scotland’s current economic performance – both domestically and internationally – and outlines a series of major global trends that we believe will shape Scotland’s future. Our aim is to start a conversation with businesses across Scotland to find out what works (and what doesn’t) and to offer an impartial assessment of the opportunities and risks that we face.",
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    Fraser of Allander Institute 2019, Scotland in 2050: Realising Our Global Potential. University of Strathclyde, Glasgow.

    Scotland in 2050 : Realising Our Global Potential. / Fraser of Allander Institute.

    Glasgow : University of Strathclyde, 2019. 21 p.

    Research output: Book/ReportCommissioned report

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    T1 - Scotland in 2050

    T2 - Realising Our Global Potential

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    N2 - Scotland is a rich and prosperous nation. We rank highly on indicators of economic prosperity and compare well to other advanced economies and different parts of the UK. We have substantial natural resources, a skilled workforce and key strengths in sectors such as food and drink, tourism, energy and financial and professional services. But the last 10 years have not been without major challenges. Growth remains below trend and household earnings have been squeezed. Scotland has always been an open and global trading nation, and this will continue to be a key source of growth in the years ahead. But recent political and economic instability has helped to create a more uncertain outlook for the global economy. In an uncertain world, what are the risks and opportunities for Scotland? And what lessons can we learn from past experiences and the success of others to deliver a more prosperous future? This study summarises the key data on Scotland’s current economic performance – both domestically and internationally – and outlines a series of major global trends that we believe will shape Scotland’s future. Our aim is to start a conversation with businesses across Scotland to find out what works (and what doesn’t) and to offer an impartial assessment of the opportunities and risks that we face.

    AB - Scotland is a rich and prosperous nation. We rank highly on indicators of economic prosperity and compare well to other advanced economies and different parts of the UK. We have substantial natural resources, a skilled workforce and key strengths in sectors such as food and drink, tourism, energy and financial and professional services. But the last 10 years have not been without major challenges. Growth remains below trend and household earnings have been squeezed. Scotland has always been an open and global trading nation, and this will continue to be a key source of growth in the years ahead. But recent political and economic instability has helped to create a more uncertain outlook for the global economy. In an uncertain world, what are the risks and opportunities for Scotland? And what lessons can we learn from past experiences and the success of others to deliver a more prosperous future? This study summarises the key data on Scotland’s current economic performance – both domestically and internationally – and outlines a series of major global trends that we believe will shape Scotland’s future. Our aim is to start a conversation with businesses across Scotland to find out what works (and what doesn’t) and to offer an impartial assessment of the opportunities and risks that we face.

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    KW - internationalisation

    KW - economics

    KW - Brexit

    KW - GDP

    KW - job creation

    KW - austerity

    KW - employment

    KW - Scottish economy

    KW - climate change

    UR - https://www.strath.ac.uk/business/economics/fraserofallanderinstitute/

    M3 - Commissioned report

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    Fraser of Allander Institute. Scotland in 2050: Realising Our Global Potential. Glasgow: University of Strathclyde, 2019. 21 p.