It has been an exciting month for Scottish business and tourism, with all eyes drawn to the banks of the Tay and the brand-new Victoria & Albert Museum.
The £80 million pound building is the first design museum in Scotland and the first Victoria & Albert Museum outside of London. It also holds the distinction of being the first UK based project for its architect, Professor Kengo Kuma. He has certainly set a very impressive benchmark for future projects, and his brainchild is already providing a tremendous cultural and economic boost to the city.
In fact, the city has already experienced a boost in overnight hotel stays of nearly 10% thanks to the museum, with an annual estimated economic boost of £11.6m set to benefit the city. With 500,000 visitors expected to visit the V&A in the first year alone, and 350,000 each year thereafter, visitors will be able to explore Scotland’s great history of heritage and design.
The city of jam, jute and journalism is in the middle of an architectural revolution as part of the ongoing £1 billion Dundee City Waterfront project, bringing with it great economic value to Scotland. Taking in 5 miles of development land alongside the River Tay, the 30 year project is a determined and strategic approach to bringing the city to the world stage. The redevelopments of the city’s waterfront, including the Railway Station, has been outstanding. In July, the new station was opened after two decades of planning and development and an investment of £38 million. This includes the impressive 120-room Sleeperz Hotel, proudly overlooking the V&A Dundee.
As well as the developments in Dundee, Edinburgh Airport also announced non-stop daily flights between Edinburgh & Dubai, opening up even more international opportunities for Scotland, further connecting Scotland to Asia, Africa and the Middle East. These additional and increased connections will enable more businesses to explore international markets and attract more tourists to Scotland. There is a real sense of dynamism and entrepreneurship and the private sector is ready to grasp the economic opportunities that lie ahead.
Liz Cameron is chief executive of Scottish Chambers of Commerce.
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