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Edinburgh's economy is outshining other UK cities, according to a report by the Financial Times.

The city is currently scoring well on factors including house prices, new businesses being incorporated, and city-centre footfall, and is ahead of other major UK locations including Manchester, Newcastle, Glasgow, Leeds, Nottingham, Birmingham, Bristol, Liverpool or Cardiff.

The news comes despite the economical crisis surrounding the Royal Bank of Scotland and HBOS - two of the city's largest employers.

A surge in overseas investment - more than the volume achieved over the last two years - is said to have contributed to the city's success rate. The weak pound is expected to be part of the reason for increased international interest.

City councillor Tom Buchanan says:

"There's no doubt Edinburgh has been adversely affected by the declining economy across many areas, but we've had a relatively soft recession compared with the experience of similar-sized UK cities."

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Published by Lou on Friday, 14 August 2009 at 11:54 AM