Monday, 9 November 2009

Edinburgh Economy Watch

  • Housing: The average house price in Edinburgh in September was 206k, that is 1k more than Sept '08
  • Planning/Development: Planning applications and Building Warrants issued are both down on Sept '08
  • City Centre: Footfall counters in Princes St outside Marks & Spencer Carphone warehouse show reduced traffic on Oct 08 but the George Street counter is markedly up
  • Tourism: Almost 855,000 passengers passed through Edinburgh Airport in September 3.8% more than in Sept '08. Comparator airports all showed a significant decline. Sept '09 hotel room occupancy rose to 87%, up one percentage point from Sept 08. Takings per room was down although the number of rooms available is significantly up
  • Labour Market: Unemployment is up to 3.1% (9,995 receiving Jobseeker's Allowance). The comparative rates are 4% for Scotland and 5.8% for comparator cities
  • Investment: Measured by Business Gateway start-ups (123 in Sept '09, 21.7% fewer than Sept 2008) and Foreign Direct Investment (none in Sept '09 but the figures for 2009 so far are significant.
This post is an introduction to some figures which give an indication how Edinburgh's economy is coping with the recession. The figures are produced monthly by the Council's Economic Development Unit. The latest monthly figures in more detail are here.

All in all Edinburgh has not been hit as much as other parts of Scotland and the UK - and tourism has performed very well.

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