Physics-based industries make a £15bn GVA contribution to Scottish GDP, according to analysis commissioned by the Institute of Physics (IOP) and conducted by the Centre for Economic and Business Research. The £15bn corresponds to 12.1% of the GVA generated by the whole Scottish business economy.
Physics-based industries directly generate a turnover of £43.5 bn and support the employment of 199,000 people, equivalent to 7.9% of Scotland’s workforce.
In a foreword to the report, the chair of the IOP in Scotland, Professor Martin Hendry, commented: “In an uncertain economic climate, it is more important than ever for Scotland to focus efforts on areas that can be relied upon to deliver results. Scotland has long punched above its weight when it comes to physics: it is home to many internationally-leading researchers and plays key roles in a number of major international collaborations, and it serves as a base for numerous businesses that have built significant success on physics knowledge and technologies.”
Commenting on the report, CEO of IoP Paul Hardaker said: “Last week Barack Obama, like many of our leaders from politics and economics, made a speech about how important science is to creating jobs, strengthening economies and improving health and well-being. Scotland is no exception, and this is built on a long and distinguished tradition in world-leading physics research in universities and businesses. For me this report highlights both the value of investing in that research and innovation base and how important it is to make sure we inspire and nurture the next generation of physicists who are studying in our schools and colleges.”
Throughout the 2011-2013 period, a person in employment in the physics-based industry in Scotland contributed an average of £77,725 per annum in value added. This is markedly above the manufacturing sector’s labour productivity levels, which averaged £66,437, and over three times the equivalent figure of £35,815 in Scotland’s economy overall.
The IoP is launching the report on physics in the Scottish economy as the focus of an evening hosted by Iain Gray MSP at the Scottish Parliament in Edinburgh on 18 January. Speakers at the event, “Physics, the key to a thriving Scottish economy” will include Professor Sheila Rowan, chief scientific adviser for Scotland and Professor Martin Dawson, director of Fraunhofer UK. They will be joined in a panel debate by MSPs Maree Todd and Tavish Scott.
To read more click the link: http://www.iop.org/news/17/jan/page_68814.html