Scotland is economically viable as it has natural resources, a skilled population, strong trading relations, excellent industrial sectors and products, and a well developed financial sector.
1) Prosperity Requires: Natural Resources. Scotland is a Resource-Rich Country. It has enviable levels of tidal, wind and wave energy, and has become a world leader in the development and deployment of renewable technologies.
2) Prosperity Requires: A Skilled Population. One of Scotland’s most valuable resources is its people. With successful universities (4 in the world’s top 200) and colleges, Scotland has a capable and educated population with boundless potential. Scotland has the most educated people in Europe
3) Prosperity Requires: Access to Trading Markets. Scotland is well placed for trade. It has a strong trading relationship with countries across the world, especially the United States, with an estimated £5.5 billion of exports from Scotland in 2017.
4) Prosperity Requires: Excellent Sectoral Clusters and Products. In the 21st century, Scotland will compete on quality within the global economy. Countries such as China and India and other comparatively low wage economies will produce the cheapest goods. Therefore, Scotland must focus on output that cannot be reproduced.
5) Prosperity Requires: Extensive Financial Service Systems. Scotland has many institutions that can handle large scale financial projects, expansions and investments. Outside of London and the South East of England, Scotland is recognised internationally as the most important financial centre in the UK.