The tech sector in Edinburgh now accounts for 1 in 8 businesses, and according to the 2016 Tech Nation Report, Edinburgh is the largest technology cluster outside London in terms of productivity.
It’s not just the vastly growing startup scene and infrastructure that makes Edinburgh an attractive proposition for entrepreneurs. The city is fondly referred to as one of the most liveable cities in Europe. The average cost of renting, say, a 1 bed flat in Edinburgh comes in at £525, compared to £1,430 in the English capital. Not exactly insignificant.
With a population of 500,000, Indeed, those looking to attract the ambitious and tech-savvy to the city are calling it ‘The Level of Living Capital’, to reflect the comparably low cost of living compared to its counterparts further south.
Edinburgh is, after all, the second-largest financial centre in the UK, giving fintech startups a solid financial infrastructure to work with. They’re calling it a boom.