As the largest city in Scotland, Glasgow is an important contributor to the region's economy, as well as the UK as a whole. The city reached GVA of £43 billion during 2016. This was an increase of 4.4% from the previous year; a higher growth rate than that of the UK overall. The city is also incredibly productive. It currently ranks as the second most productive major city in the UK, having a GVA of £29.50 for each hour worked in 2015.
Glasgow has enjoyed rapid growth over the last few years, thanks in part to its increasing population, range of development and regeneration schemes, and emerging high-tech industries. As a result, the region hit an economic output of over £20 billion for the first time in 2016, an increase of 3% from 2015.
If you'd like to see which sectors and company types are thriving in this diverse city, take a look at the list below. We've taken data from our Glasgow B2B platform to find the businesses turning over the most revenue locally, and the results provide an interesting overview of the city's economy.
MoreAs the results above show, Glasgow has market leading companies working across a diverse range of industries. The city is performing particularly well in sectors such as finance, digital tech, life sciences, creative industries, engineering, higher education, advanced manufacturing and tourism. In total, the city provides around 844,000 jobs - 34% of the entire Scottish workforce.
The city also has ambitious plans for future growth. The Tourism and Visitor Economy Plan has the aim of increasing visitors by one million by 2023, growing the sector's GVA by £148 million. Other large developments include the £250 million project at Sighthill, building new homes and infrastructure, and the £113.9 million Clyde Waterfront and West End Innovation Quarter redevelopment.
