Glasgow Business . 37
www.glasgowchamberofcommerce.com
In 2016, Glasgow Chamber of Commerce signed the Milan MOU. Right, the future is bright for Glasgow trade, as featured in the August issue of Glasgow Business
GOODBYE TO 2016
Tat was a year that was – and not for all the best reasons. 2016 will go down in history as the Year of Brexit. Most other economic events – including the ultra-low interest rates and the weakening value of sterling – will be over- shadowed by a referendum result that shocked the UK.
Te EU Referendum on 23 June was a
double-edged blow because Scotland voted to remain within the EU, while the rest of the UK voted to leave. Tis placed Scotland on a course for a second independence referendum on whether to remain or leave the rest of the UK. Te second half of the year became a
turbulent political period with the Chamber continuing to forge a path to deliver on its mission to support members and champion the economic prosperity of Glasgow. Te Chamber was guided by its Constitution Commitee to provide members with neutral information and the opportunity to question both campaigns. Even before the result, the Chamber was pursuing its founding principles to support and grow international trade. Two significant memoranda of understanding on international trade were signed with Manhatan Chamber of Commerce and then in Northern Italy with the British Chamber of Commerce for Italy. Te Chamber will be working hard to deepen these relationships in 2017. Chamber members showed their resilience
on many fronts including engineering, whisky making, life sciences, retail, commercial property and education. But hospitality and tourism proved to be a consistent winner for the City. A study undertaken by Glasgow Caledonian University’s Moffat Centre for Travel and Tourism revealed that retail and leisure sectors contributed a total of £5.46 billion to the economy and generated more than 33,000 full-time jobs. Tourism is growing too. In 2000, the average
occupancy rates in Glasgow hotels were 66 per cent. Now it is regularly between 80 per cent and 90 per cent. Success has been driven by the SSE Hydro where major acts and events are now selling-out the massive arena fuelling the so-called ‘Finnieston Phenomenon’ with its plethora of bars, hotels and restaurants. Glasgow Airport, celebrating its 50th
anniversary, had a ‘scorching’ record-breaking year, a feat recognised in Te Glasgow Business Awards when the airport secured a hat-trick of awards. Demand for high-quality offices was at the
highest level since 2007 and there is new demand for one million extra sq ſt, according to real estate consultants Cushman and Wakefield. Te Chamber worked with the City Council
and the Glasgow Economic Leadership to support the development of a strategy to deliver on the £1.3 billion City Deal. Te Chamber also engaged with the Scotish and British Chambers of Commerce networks to ensure that Glasgow played its part in and had its voice heard in the national debate about the UK’s cities. As 2016 drew to a close, Glasgow’s new
economic strategy, which was launched at the State of the City Economy Conference, was still being considered. Glasgow was also awaiting a £120 million investment in city centre public realm and the funding to be put in place to deliver a rail link to Glasgow Airport. Te championing of the city region focused on showing Glasgow as a great place to work and invest. It was also about promoting and enhancing transport connectivity, developing the city centre, supporting work on the city’s resilience, and the competitiveness of the workforce.
LOOKING AHEAD TO 2017
Te Chamber launched a three-year business plan in 2015 with the clear aim of engaging more effectively with members. A significant investment in the CRM system has resulted in an increase in membership alongside a leading retention rate. Troughout 2017, the Chamber will be looking to further build on activity and investment to atract new members and contacts. Te focus will also be on
enhancing established strategic agreements, particularly with Glasgow City Council, to continue the delivery of Developing the Young Workforce Glasgow, the country’s first employer-led regional initiative.
Te Chamber will continue to engage the
business community on the Circular Economy, building on the City Scan undertaken as part of the relationship with Zero Waste Scotland and other city partners. Te projects team is seeking to atract at least one new strategic agreement. Te Chamber will welcome the opening
of new major offices for ScotishPower and Morgan Stanley, which will bring more high-quality jobs to the city centre. Tere are also plans to create another 130,000 sq ſt of Grade A office space in Sauchiehall Street at the old BHS building. Meanwhile, Glasgow’s academic institutions
have been investing in innovation with Strathclyde University’s Technology Innovation Centre, City of Glasgow College’s fabulous new city centre campus and Glasgow University’s dramatic plans for the redevelopment of the old Western Infirmary site. On the international front, and in spite of
Brexit, the Chamber will seek to expand its reach and aims to secure funding with Scotish Chambers to deliver a substantial campaign to promote Scotish exports and Glasgow as a city open and welcome for foreign investment. Again, the City will be in the international
sporting spotlight, proving that People Make Glasgow as sports fans support the World Badminton Championships in 2017 and the European Championships in 2018. Both are testament to the work of the City Council and the Scotish Government in maintaining the City’s momentum. Te re-vamp of the Kelvin Hall as a new arts space will also be a major boost for the City. Bringing people together to celebrate the
City’s success remains a key part of the Chamber’s work. Te Inspiring City Awards and Te Glasgow Business Awards are now firmly marked in the City’s events calendar, while knowledge and networking sessions such as Glasgow Talks pull members in to hear about other aspects of Glasgow’s business
life. 2017 will be the year when Glasgow reasserts itself as the powerhouse of Scotland – and the Chamber will be playing its part.
Manhattan Chamber of Commerce President Jessica Walker
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