PARTNERSHIP Italy - UK

PARTNERSHIP | Winter 2019 20 Scotland’s growing tourism industry Tourism’s continuous expansion and resilience V isitScotland, the Scottish national tourist board, celebrated its 50th anniversary in July 2019. Since 1969, the board has been contributing to the success of this sector, with rising numbers in terms of trips, expenditures and in the visitors’ nationalities visiting the country. The industry’s value has gone from an estimated £100m to £11bn, while the overall visitors’ numbers have tripled, confirming the brilliant performance of Scotland as a tourist destination. As confirmed by the World Tourism Organisation, during the last decades tourism has grown even faster than merchandise trade, becoming the third largest export category after chemicals and fuels. The industry represents a significant part of the Scottish economy, employing more than 200,000 workers and hosting millions of visitors every year from all over the world. The Scottish Government is firmly committed in sustaining the industry. Fiona Hyslop, Cabinet Secretary for Culture, Tourism and External Affairs, announced a multi-million-pound investment to support rural, island and forest tourism sites, and establish Scotland as an adventure destination. These measures will be accompanied by the launch of a new strategy developed in partnership with the tourism sector. Secretary Hyslop recognised that the tourism industry is of crucial importance to the Scottish economy, underlining the Government’s commitment to support the sector to “offer high-quality experiences for visitors, minimising the impact on the environment and the lives of locals”. INVESTING IN THE TOURISM SECTOR Italian entrepreneurs have a long history in investing in Scotland. An excellent example is the Forte family, who share a long-lasting relationship with the country: The Balmoral, the first hotel of the Rocco Forte’s Group and Edinburgh’s jewel in the crown, has been recognised as one of the best hotels in Scotland. Scotland still retains its ability to attract high numbers of FDI projects, with a solid and growing demand for new tourism infrastructure and several foreign business investments in the sector. Scotland presents significant opportunities for developers and investors: inbound tourists’ arrivals keep growing every year, and international numbers are forecast to increase by 3.3% a year, with the possibility of reaching 1.8bn by 2030. Glasgow’s regeneration projects are making the city incredibly able to market itself as a modern international hub, attracting international visitors who want to explore Scotland as well as many business travellers. At the same time, Edinburgh is leading the way as the most in-demand city in the UK outside London, with some remaining sites in the New and Old Town suitable for hotel developments. Moreover, air routes to Scotland have increased, as a result of the Edinburgh Airport’s expansion, enhancing connections with the rest of the UK and internationally. On top of this, Scotland’s abundant natural assets of spectacular natural landscapes in the Highlands region and the wild islands are attracting increasing numbers of international visitors with an interest in wellness, adventure, and film tourism. Regardless of Brexit’s outcome, Scotland is focused on embracing tourism opportunities and challenges, and keeping on the favourable momentum. ·