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Edinburgh in top tier for global talent concentration, according to new research report

Scotland’s capital is named as one of the world’s most talent-rich cities.

December 19, 2019

Edinburgh was ranked 15th in the world and second only to London in the UK for talent concentration in JLL’s Innovation Geographies research report.

The report analysed more than 100 cities worldwide to quantify their innovation and talent attributes and examined how this is reflected in property investment and performance.

Top performing cities in both innovation and talent were not only outperforming in economic activity but have also recorded the fastest, most vigorous office rental growth over the past decade and are attracting a higher proportion of property capital. Harnessing innovation and attracting the brightest talent is key to building a productive, wealth-creating economy.

Edinburgh ranks ahead of mega cities such as New York and Tokyo in the talent concentration index, due to its universities and a highly educated workforce and Scotland’s capital city has seen an 8% increase in total employment overall since 2016.

World-leader

More than half of Edinburgh’s workforce has tertiary education, which is significantly higher than the global average of 34 percent, with the University of Edinburgh recognised as a world leader in informatics and computer science. Edinburgh’s 20-40-year olds now account for 35% of the population.

Edinburgh is the birthplace of tech unicorn Skyscanner and base of the UK’s largest tech incubator, Codebase. The availability of the highest calibre of talent led to Cirrus Logic’s decision to establish its European hub in the city.

R&D expenditure accounts for 2.2 percent of GDP, double that of Glasgow, Manchester or Greater London and outside London, Edinburgh received more hi-tech FDI than any other UK city between 2015 and 2018.

High ranking with investors

Cameron Stott, head of Edinburgh office agency, said:

“Edinburgh’s burgeoning tech sector and resilient financial sector means it remains a firm favourite with investors. The city ranked third globally for investment volumes relative to economic size.

The combination of quality of life and the rich seam of talent coming from Edinburgh’s universities has helped the city prosper. However, to ensure continued investment, identifying new submarkets will be a key priority.”

Skills are a key driver

Ben Reed, head of national tenant representation added:

“It is essential for corporate decision-makers to know which cities globally have the most educated and relevant workforce. Edinburgh is doing extraordinary well and has a high proportion of skilled graduates and a young, dynamic workforce which helps to drive forward its productivity and innovation.

“Skilled workers will increasingly be drawn to urban areas, so cities need to ensure they offer vibrant office space, quality housing, retail units and a range of leisure and amenities that can attract and retain talent. Cities with stronger innovation and talent characteristics are likely to record higher rental growth.”

In the meantime, stimulating and supporting the innovation economy remains critical in ensuring future growth. “The economy of Edinburgh and similar cities is improving rapidly, and we expect it to maintain its position in the table in the years ahead,” Stott says.

In the post-Brexit climate supporting and nurturing the innovation economy will be critical to ensure future competitiveness and growth.

To view the full innovations geography report for the UK please click the link below:
https://www.jll.co.uk/en/trends-and-insights/research/innovation-geographies-2019

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