Edinburgh is the capital of Scotland, situated in Lothian region in the southeast of the country. With a population of 476,000, it is the second most populous city in Scotland and the seventh most populous in the UK. It is also the second most prosperous city in the UK after London. A cultural and religious centre, Edinburgh has the UK’s second largest financial services sector outside London. Printing and publishing, tourism, education and research are also major employers, along with city authorities. The city is second only to London in terms of both gross average annual earnings and gross value added per resident.
In financial services, the city has a critical mass in banking, life insurance and pensions, asset servicing and investment management. Together, the sector employs around 35,000 people. It also has vibrant corporate finance, brokerage and professional service community. Around £800 billion of assets are managed in Scotland, with the sector heavily concentrated in Edinburgh.
With the old town and Georgian New Town jointly recognised by UNESCO as a World Heritage site and a wealth of cultural and entertainment activities, tourism is a major activity. Its cultural excellence has also been recognised by UNESCO making Edinburgh the world’s first City of Literature. Visitors to Edinburgh, a third from overseas, inject around £1.2 billion into the city region’s economy annually and account for 14 million bed nights. The various Edinburgh Festivals alone attract some 4.5 million visitors, while the city’s four universities mean there is a significant student population.