Aberdeen City and Aberdeenshire’s buoyant local economy is continuing to grow despite the credit crunch hitting the rest of the UK. Figures from Aberdeen’s John Lewis store show that sales are generally ahead on like for like sales, compared with the same period last year.
Gavin Gourlay, merchandising manager for the store in the city’s Bon Accord Centre said: "There is no sign of a slowdown in footfall or sales. In particular we’ve had extremely good sales on beauty products and designer hand-bags, up ten per cent, while this week’s mini-heatwave has caused a 167 per cent rise in sales of designer sunglasses." Homes and furnishings are also doing well, up six per cent, while the sale of TVs has risen by 24 per cent.
"Visitors are certainly still spending," said Frank Sutherland, manager of Aberdeen’s Bon Accord and St Nicholas Centres, the region’s shopping hub. "In general we have not seen any decline at all. Aberdeen is continuing to buck the national trend. Retailers are generally doing well on the level of sales per head.”
Average weekly earnings in Aberdeen City and Aberdeenshire are well above the national average (£481, Scotland - £432, GB £448.6), and well-heeled Aberdonians have amongst the highest disposable income in the UK, with 70 per of the Aberdeen’s core catchment spending well above the Scottish average in a number of key categories. More than half of the region’s spenders are ABs and C1s, compared with the Scottish average of round 45 %, and within this group the number of high spenders is almost double the Scottish average (11% versus 6%).(Sources: Behind the Granite, Aberdeen City Key Facts 2007/8; NSLSP 2006, CES).
"Aberdeen City and Shire does have its own economic climate, to a certain extent," said Louise Scott, head of corporate communications at Aberdeen City Council , who is leading Aberdeen City and Shire’s regional identity campaign. "Our vibrant business community is of course, fuelled by the buoyant oil industry. However, the region is also the primary producer for Scotland’s food and drink industry, we have the highest concentration of life science companies in Europe and are also very strong on research and development, led by our world-class universities."
The high disposable income enjoyed by many in the region means that despite the credit crunch, Aberdeen city and Aberdeenshire are currently on the brink of something of a retail renaissance. The recent arrival on Union Street of Cruise/Boss, G-Star Raw and High and Mighty, have all raised the bar and given
a boost to the area - a welcome development for the Aberdeen’s many fashionistas who in the past had to take trips to other cities to get their retail fix.
There are also a number of new retail opportunities opening in the next few years in Aberdeen with the new Union Square development and further phases of the Bon Accord Quarter scheme which will see a dramatic increase in the total retail space.
The regeneration of the historic Green area of the city is also continuing. A number of new hotel developments are in the pipeline for Aberdeen city centre, including a 107 bedroom hotel which will also be the centrepiece of the £30 million City Wharf development near Union Street. And in the West End, £7 million is being spent refurbishing a hotel into a cutting-edge Malmaison.
Meanwhile around £30 million could be spent on two new hotels’ near Aberdeen’s airport. The international Hilton chain proposes a 175-room Hilton Garden Inn at Dyce, and the first Courtyard by Marriott hotel in Scotland is also planned.
Despite the wealth within the region however, it seems to be the simpler things in life that are the attraction for the many families moving to the area.
Aberdeenshire recently come out top in Scotland for quality of life, according to Halifax Bank of Scotland (HBOS) research.
A range of factors in the local authority were measured, and the low levels of crime and traffic coupled with high employment meant it was the only Scottish local authority in Scotland to make the list. Aberdeenshire also boasts healthy residents, high life expectancies and larger than average houses.
Aberdeenshire also topped the HBOS quality of life list in education, boasting the smallest class sizes in the UK. The state and private school sectors in Aberdeen City and Aberdeenshire all perform consistently highly in the league tables throughout Scotland, with both state and private schools appearing in the Top 10, ranked according to examination achievements.
"The perfect work/life balance is the holy grail of modern times," said Jim Knowles, head of economic development at Aberdeenshire Council. "The out-door lifestyle of the region is cited most often as a deciding factor by people who choose to stay on here, often following a corporate move from elsewhere in the UK or overseas. However we are also fortunate that we have a robust local economy that can withstand much of the current economic uncertainty."
To find out more about Aberdeen City and Shire visit:
No comments:
Post a Comment