Edinburgh economy outperforms London for first time, new data reveals

Edinburgh’s economy has outperformed London’s for the first time ever, according to new data.

The Office for National Statistics (ONS) revealed that the value of goods and services produced per head of population surpassed London’s for the first time.

The figures showed a gross domestic product per capita of £69,809 in Edinburgh, compared to £69,077 for London.

City of Edinburgh council leader Jane Meagher welcomed the news, saying the capital has long been Scotland’s “economic powerhouse”.

“This is good news for our local businesses and employment, and shows the confidence global investors have in Edinburgh,” she said.

Over the last year, the city has welcomed 27 developments funded by foreign direct investment (FDI), with shops like Sostrene Grene and MINISO to renewable energy consultants PSC.

Meagher added: “We know that Edinburgh is one of the best places to live, work and study, making it a magnet for such investment and for tourism.”

“This is the fastest growing city in Scotland, with more than 60,000 new residents expected over the next 20 years and over four million visitors every year.”

Meagher said the city now faces the challenge of ensuring the growth is “fair and sustainable”.

“To keep thriving, we need to manage the pressures placed on our housing, transport network, environment, services and residents,” she continued.

“Everyone should be able to benefit from Edinburgh’s continued economic success.”