UK CITIES RECOVERY INDEX

Glasgow

Updated: 16th February

UK CITIES RECOVERY INDEX

Index + DART for Glasgow

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Overview

Stricter Covid restrictions that were announced in December continued throughout most of January in Glasgow although restrictions were lifted on 24th January.

As it stands, the recovery index stood at 87.2 on 7th February, which is a significant increase on 73.6 measurement the previous month driven by the easing of Covid-19 restrictions, and a bigger recovery compared to Edinburgh.

UK CITIES RECOVERY INDEX

Sector Indices + DART for Glasgow

Glasgow Sector Indices

Commercial Activity

  • The Commercial Activity Sector Index for Glasgow remained static at 97.3 on 7th February with no change recorded since the previous month. This is only slightly lower than the previous peak, 100.1, which was recorded in May 2021 . Glasgow did record the highest index score for commercial activity vs all other UK cities in February.

Hotel & Leisure

  • The Hotels & Leisure Sector Index which peaked at 162.0 in November as a result of the mass influx of people due to COP26 saw a slight recovery compared to January.
  • This figure increased from 74.8 to 81.3 in the month to 7th February, as the pandemic and the changing level of restrictions continued to impact visits to the city.

Mobility

  • The Mobility Sector Index for Glasgow saw a significant rise on 7th February to 113.3 compared to 91.12 on 10th January. The data recorded in February was similar to the levels recorded in early December, prior to the additional restrictions

Residential

  • The Residential Sector Index for Glasgow saw a slight decline compared to January, from 92.5 to 91.3. This was likely driven by Covid-19 restrictions, but may also be the signs of a slowdown in the market in light of increasing concerns of rising household costs. January is also typically one of the slowest months of the year for house sales (as is November and December).

Retail

  • Glasgow’s Retail Sector Index now stands at 83.5, an improvement from the 76.5 recorded in January, but still significantly lower than the 91.5 recorded on 6th December.

Return To Office

  • The city’s Return To Office Sector Index stood at 58.4 on 7th February, which is a large rise compared to 46.0 on 10th January. Despite the work from advice continuing in Scotland, Glasgow is actually outperforming the UK average of 55.1 and is ranked the second highest, behind Newcastle. In fact, removing Scottish and Welsh cities bring the average index score for Return to Office down to 54.7, despite government advice in England to return to the office.

UK CITIES RECOVERY INDEX

National Sector Indices + DART for Glasgow

A VIEW FROM GLASGOW

Alison Taylor

Managing Director

“Glasgow continues to enhance its strong brand as a city of well-regarded exhibition, sporting, and concert venues, which each year attract increasing numbers of business and leisure visitors. Glasgow has enjoyed exponential growth in the aftermath of the successful 2014 Commonwealth Games. As the host to COP26 in November 2021 this critical gathering of world leaders congregating on climate change will catapult Glasgow once again onto the international stage, creating a focus for recovery timelines.

Whilst the Government in Scotland continues to advise against the return of non-essential office workers, several new high-profile office developments remain under construction. With characteristic entrepreneurial flair, many of these developments are already adapting to emerging trends accelerated by COVID-19.

Glasgow must also keep moving forward with all infrastructure projects planned to maintain the competitive edge it has earned. Undoubtedly its transition to an even greener city is both desired by its inhabitants and essential for a sustainable and prosperous future. Progress can be made in green transportation and infrastructure improvements during this less congested period caused by COVID-19. If Glasgow seizes these opportunities, it will be ready to open its doors to the world once again.”

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