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Pav Masutes

March 5, 2024 | Admin | international_slider

Edinburgh has recently been crowned the best city in the world by Time Out magazine, and it remains a great place to live, work, invest in and visit. The tourism sector in Scotland has shown great resilience, as in 2022, international visitors made 3.2 million visits to Scotland, staying for 29.7 million nights and spending £3,151 million. While visits were down 7% compared to 2019, the number of nights went up by 9% and visitor spending by 24% in nominal terms, each setting a new January – December record. Considering inflation, the overall spending would have been up 10% in 2019, equivalent to £2,791 million in 2019 prices. These figures show that demand from international tourism is a strong positive indicator for Scottish tourism.

Scotland’s economy continues to grow, and the commercial real estate sector shows great promise, particularly in the hospitality industry, driven by domestic leisure demand and the gradual recovery of inbound tourism. Scotland has been a world-class location for Foreign Direct Investment for a long time. According to EY’s latest Scotland Attractiveness Survey, Scotland outpaced both the UK and Europe on foreign investment, securing a record 126 inward investment projects last year (up 3.3% on 2021’s 122 projects). The adaptive reuse of buildings underscores a shifting landscape, with office-to-hotel conversions becoming increasingly prevalent, reflecting evolving market demands. The UK government’s commitment to promoting Scotland as an investment hub underscores the region’s significance in global markets, signalling promising prospects for future investments and economic expansion.

We welcome all foreign investors interested in investing in Scotland to reach out to mySTAYINN Luxury for a very confidential investment strategy and a unique proposition.

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