7/9/2014: Scotland’s Financial Services and the UK

Here is an interesting tweet on the size and inter-links between Scottish Financial Services and the UK:

But here are some other facts:
Financial Services contributed 8.8bn to the Scottish economy in 2010 or over 8% of Scottish onshore economic activity. Financial Services direct supported 85,000 employees and indirectly provided jobs for 100,000 more, accounting for around 7% of total employment. Banking, as a sub-sector of the Financial Services is the largest contributor to the Scottish economy adding over 4bn, or nearly half of the total financial services contributions. Adding to the financial services the associated professional services combined broader financial services sector employs a total of 148,600 people, or 6.1% of total Scottish employment, contributing over 14bn to the economy, 13.1% of Scottish GDP. More than 40% of Scottish postal services & almost 30% of Scottish accountancy services are sold to the Scottish financial sector. Almost 19.4% of all ‘other business services’ in Scotland are supplied to the financial services contractors, 18.7% of all advertising, 18.2% of computing services, 18.1% of real estate services, 17.6% of printing and publishing, 20% of research services, 16.3% of legal activities, 16% of telecommunications, and 13.4% of air transport services.

This post was published at True Economics on Sunday, September 7, 2014.