Scotch whisky worth £4bn to economy

whisky drinkerDanny Lawson/PA Archive/Press Association Images

Scotch whisky is worth more than £4 billion to the economy, according to new research.

The industry is experiencing a second "golden age", with record levels of productivity, according to a report commissioned by the Scotch Whisky Association (SWA) to mark its centenary.
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The research, Scotch Whisky & Scotland's Economy - A 100-Year Blend, found that inward investment and growing exports to international markets had provided a boost in recent years.

Scotch whisky is now worth £2.9 billion as an industry, with a further £1.3 billion generated through the supply chain. It also supports around 36,000 jobs.

The report found Scotch whisky exports are worth more than £4 billion each year, while the product accounts for 55% of the growth in Scotland's international export markets since 2002.

Inward investment has been credited as one of the reasons for the industry's growth, with investment of £2 billion committed over the next few years by producers.

Gavin Hewitt, chief executive of the SWA, said: "This new research is further evidence of the key role Scotch whisky plays in the Scottish economy.

"The demand for Scotch whisky is coming increasingly from the world's fastest growing markets. In comparison with other Scottish industries, Scotch whisky already enjoys an enviable export position across a wide spread of emerging economies."

He added: "The report shows Scotch whisky is likely to play an increasingly important role in Scotland's export markets.

"The momentum of growth needs to be better nurtured by both the UK and Scottish Governments. Scotch whisky underpins their ambitions for export-led recovery."

© 2012 Press Association
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