According to research, the Scotch Whisky industry contributed more than £7 billion in one year to the UK’s economy and supported 66,000 jobs.
The Scotch Whisky Association trade body said that 41,000 direct and indirectly jobs were located in Scotland.
The association’s last economic impact report published in 2018 showed that the gross value added for 2022 is 29 percent higher than it was in 2018.
A part of this growth was due to the rising sales of spirits and the opening of more distilleries. The industry also spent heavily on technology and visitor attractions such as the Johnnie Walker Experience in Edinburgh which opened in 2021.
According to the association’s research, capital expenditures between 2018 and 2020 will amount to approximately £2.1 billion while export sales are expected increase by 31% in this period, reaching £6.2 billion.
Scotland accounted for about £5.3 billion out of the total GVA of £7.1 billion. Highlands and Islands took the biggest chunk at £799 millions, followed by Glasgow on £627 millions.
Scotch is only classifiable if the spirit has been distilled in Scotland and matured there for at least 3 years.
The association stated that it supported 24,000 direct and indirect jobs more in the UK today than a decade earlier and that members planned to invest heavily over the next few years.
Mark Kent and Chief Executive argued that “the industry has again proven its economic importance to the UK on a domestic level as well as the global stage.”
Alister Jack, Scottish Secretary, stated: “The contribution of the sector to the economy is vital to Scotland and the UK, with its ever-growing exports, investment in skills, and job creation.” We are pushing for new, robust global trade deals that will protect the interests of Scotch Whisky and ensure that its unique characteristics and reputation are protected.
Neil Gray, Scotland’s wellbeing economy minister, said: “Continued global growth means more jobs, investment and benefits for our communities. It also encourages visitors and residents in Scotland to enjoy the incredible offers we have in Scotland.