Argyll and Bute tipped to bounce back

The UK's strongest local economies as set out by Raisin UK.

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The Highlands and Argyll and Bute are both in the top 10 areas of Scotland which are most likely to bounce back quickly from the pandemic.

New research has ranked Highland second behind Edinburgh in Scotland, with neighbours Argyll and Bute at seventh in Scotland’s league table in the race to recovery.

Both areas feature because of their previous standing as having strong local economies, according to data from savings platform Raisin UK.

It ranked which parts of Scotland, and the rest of the UK are likely to recover the fastest.

Areas were ranked on statistics including historic business survival rates, the number of people in employment in the area and the number of large businesses.

The survival rate for businesses in the Highlands after five years is 46.9 per cent with a high employment rate of 75.3 per cent.

Argyll and Bute has a business survival rate of 47.5 per cent with companies such as Dunoon-based Western Ferries and the Jura Distillery namechecked in the results as leading local firms.

However, not a single region of Scotland featured in the UK’s top 10 of the strongest economies which were dominated by towns in the south west and south east of England.