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business start-ups in Edinburgh are above the Scottish average, as is the dynamic corporate sector with more businesses per resident. 
The key sectors in Edinburgh include financial services, tourism, life sciences (including biotechnology and translational medicine) and the creative industries. 
Home to finance 
The financial services industry is one of the most important in ScotlandÕs economy, with the sector performing strongly against UK and international benchmarks. Although the sector has recently been directly affected by the international financial crisis, over the period 1998-2007, growth in Gross Domestic Product in ScotlandÕs financial services has outstripped that of the Scottish and UK economies as a whole, as well as UK financial services. Between 2000 and 2006, the industry in Scotland grew by over 50%, 20% faster than in the UK as a whole. 
The City of Edinburgh is widely acknowledged as the UKÕs second financial centre following London, and is ranked fifth in Europe. Around 43,000 people work in the financial services sector in Edinburgh representing an increase of 35% since 1998. Edinburgh accounts for around 40% of all financial services employment in Scotland. 
With a critical mass in banking, fund management, life insurance, securities, corporate finance, broking, asset servicing and support services, financial companies are opting to move their businesses to the Edinburgh city region. Edinburgh is home to two of the worldÕs leading banks Ð Royal Bank of Scotland and HBOS Ð and leading life and pensions providers including Standard Life, Scottish Widows and Aegon UK. The city also attracts international players including HSBC, Citigroup and a growing asset administration sector populated by top international firms including State Street and Bank of New York. 

Capital attractions 
Tourism is one of ScotlandÕs largest business sectors, providing direct employment for 200,000 people and generating visitor spending of more than £4bn a year. The tourism industry is also a key sector of EdinburghÕs economy, currently worth £1.7bn per year and attracting around four million visitors a year. Tourism related employment accounted for 10.2% of the workforce in the City of Edinburgh. Attractions include the Edinburgh Summer Festivals, of which Edinburgh Festival Fringe is the largest arts festival in the world, and the Hogmanay celebrations. 

Working together for growth 

The Scottish GovernmentÕs Economic Strategy3 sets out the ambitions for the Scottish economy and how it will meet its objective of raising ScotlandÕs sustainable economic growth rate.The Strategy emphasises the importance of Edinburgh, alongside the City of Glasgow, to the Scottish economy and highlights the benefits that greater links between the two cities would bring to businesses and the wider economy. 
Tel. 0131 244 3474 www.scotland.gov.uk 

1 Based on GVA 2 Source: Experian Business Strategies 3 http://www.scotland.gov.uk/ 
Publications/2007/11/12115041/0 

Royal Bank of Scotland 

Standard Life Building Exterior 
Aegon UK