Mixed Picture in Edinburgh

New business incorporations in Edinburgh were up 8.3 per cent in June compared with the same period last year. And Business Gateway start-ups are up 16.7 per cent.

But it was not a good month for tourist-related businesses. A combination of recession, the continuing squeeze on household incomes and miserable summer weather led to airport passenger numbers falling by four per cent on June last year. And hotel room occupancy is down by 2.7 per cent.

Planning applications received during the month were down by 4.5 per cent and building warrants issued were down by 1.7 per cent.

Finally, no inward investment projects were recorded for the city in June – this compares with four in June of last year. But a total of six large scale foreign direct investment projects have been recorded in the city so far this financial year.