Glasgow is the largest and most dynamic economy in Scotland and is at the hub of the metropolitan area of West Central Scotland. The city now outstrips most of its European counterparts and rivals most North American cities in terms of growth. Manufacturing industries such as shipbuilding and heavy engineering have been gradually replaced in importance by a modern mixed economy, supported by public and private investment and a skilled workforce. Glasgow’s economy is now dominated by key tertiary sector industries such as financial and business services, communications, biosciences, creative industries, healthcare, retail and tourism.
The city retains a strong link to the manufacturing sector which forms the fourth largest manufacturing center in the UK, accounting for well over 60% of Scotland’s manufactured exports, with particular strengths in shipbuilding, engineering, food and drink, printing, publishing, chemicals and textiles as well as new growth sectors such as optoelectronics, software development and biotechnology. Glasgow forms the western part of the Silicon Glen high tech sector of Scotland.
Over the last two decades Glasgow has been dramatically transformed and is an attractive city in which to live and work. Major corporate developments have helped promote its reputation as a leading European center for business and commerce. Glasgow is the second most popular foreign tourist destination in Scotland. The city also has the UK’s third largest and most economically important commerce and retail district. Glasgow is one of Europe’s top 20 financial centers and is home to many of Scotland’s leading businesses, forming an important part of the British economy.