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Scotland in 2050: Realising Our Global Potential

As we summarised in our interim report, we live in eventful times both politically and economically. Brexit continues to dominate newsfeeds and the inboxes of many business leaders.

While the UK’s decision to leave the EU will have a significant impact on future growth and business opportunities, the global economy is itself going through major structural changes that have the potential to transform the way we do business.

The rise of new and emerging markets is fundamentally re-shaping the balance of global economic power and influence. The pace of technological growth is the fastest it has ever been, and will only quicken in the future.

But Scotland’s existing strengths and market access provide a solid foundation upon which to build. We live in a rich and successful nation. We have substantial natural resources with key strengths in diverse sectors such as food and drink, tourism, energy and financial services.

In June 2018, The Fraser of Allander Institute (FAI) was commissioned by Shepherd and Wedderburn, as part of its 250th Anniversary, to start a conversation with Scotland’s business community on how we can best position our economy for the future. This report summarises the key outputs of these discussions.