The Importance of Physics to the Scottish Economy
Physics is central to the Scottish economy.
Physics drives the economy of Scotland. Scotland has a proud history of invention and innovation in physics, and it is a world leader in physics research. But Scotland is also a powerhouse in the application of the products of physics research.
Physics-based businesses in Scotland, from electricity generation to telecommunications and high-technology manufacturing to transport, contribute £8.5 billion to the national economy, and employ more than 100,000 people: 4% of the workforce driving 10% of the economy.
In comparison, the finance sector contributes £7 billion to the Scottish economy; tourism contributes £2.9 billion.
Including induced and indirect effects through supply chains and downstream spending, physics-based sectors account for a total of £12.5 billion of Scottish economic output, and 184,000 jobs.