Economic Research alert - January 2022

This paper provides an overview of research in the public domain with a focus on the priorities from the Scottish Enterprise Business Plan (jobs, net zero, place) – there is also a section on covid and Brexit.

The methodology consisted of desk research.

Jobs - Staffing challenges continue for many businesses with some delaying expansion plans as a result. The number of graduate vacancies is now 20% higher than in 2019 before the Covid-19 pandemic. Net Zero - A rail industry report suggests the UK government should extend its plans for high-speed rail across the border to Scotland if it wants to meet its net zero climate goals. A new assessment states the climate crisis will wipe at least 1% a year off the UK’s economy by 2045 if global temperatures are allowed to rise by 2C. Place - Edinburgh has been named one of the UK’s leading tech cities. Scotland has experienced the highest growth in average household wealth in the last decade at 66%. Covid/Brexit - An industry survey suggests that 1 in 3 Scottish tourism and hospitality businesses are set to fail in 2022 due to increased costs, impact on revenue, staffing issues, covid restrictions etc. The pandemic has made the world's wealthiest far richer but has led to more people living in poverty.

This paper makes no recommendations.