NEWS

20th March 2025

Stirling’s economy forecast to be the fastest-growing in Scotland

Stirling will have the fastest-growing economy in Scotland over the next three years – and be among the top four for growth in the UK – according to new research from Ernst & Young (EY).

 

EY’s UK Regional Economic Forecast predicts that Stirling’s economy will grow by an annual average of 1.7 percent in Gross Value Added (GVA) between 2025 and 2028, putting Stirling joint first alongside Edinburgh in Scotland and ahead of major cities such as Glasgow.

 

Stirling is set to perform strongly across the UK too, with the same rate of expected GVA growth as London and Belfast. GVA, which measures the production of goods and services, is an important indicator of overall economic performance.

 

Stirling also features in the UK’s top ten performing major cities and local authorities for projected employment growth over the same three-year period.

 

Stirling Council Leader Gerry McGarvey said: “This research shows that Stirling is among the fastest-growing economies not just in Scotland but across the UK, which is absolutely fantastic news. This is testament to the drive, skills and talent of the founders, leaders and teams who propel Stirling’s economy every day.

 

“Stirling is rooted in the heart of Scotland and these findings confirm our place at the beating heart of the innovation economy. We may be one of the most compact cities but our area punches well above its weight.”

 

While overall growth in Scotland is predicted to be slower than other devolved nations, Stirling is forecast to buck the trend, helped by its embrace of innovation.

 

EY’s study highlights projected job growth of 1.4 percent in Stirling in tech-led activities, with knowledge-intensive industries expected to be amongst the UK’s fastest growing sectors.

 

The report also underlines the importance of professional, scientific and technical services to projected economic growth across the UK. Stirling’s burgeoning life sciences and health innovation sector has been buoyed by significant investment from industry, investors and Scottish Enterprise in recent years, supporting new state-of-the-art facilities, job creation and business growth.

 

EY’s UK Regional Economic Forecast (published 19 March 2025) can be viewed here