The single malt enjoys a great reputation among whiskey lovers around the world. Every second, 40 bottles (70cl @40% ABV) of Scotch whiskey are shipped from Scotland to 180 markets around the globemore of 1.1 billion bottles each yearaccording to Scotch Whiskey Association (S.W.A.). To give us an idea, these bottles placed end to end, would extend about 342,000 km, that’s 90% of the distance to the moon! which means that in Scotland is home to more than 20 million barrels of mature whiskeythere are almost four barrels for each person who lives in this country.
The revaluation of this drink is accompanied by a new generation of consumers with much more sophisticated palateswho prefer a profile with a unique flavor, of incomparable quality and elaborated in an artisanal way, which elevates whiskey to an unrepeatable experience of luxury and exclusivity.
This trend is reflected in a recent report from Global Market Insights Inc.which projects that the scotch market will reach 33 billion dollars by 2027achieving a rate of Annual growth compound (CAGR) 6.7% during the forecast period. For your part the value of whiskey will cross 85 million dollars for the same year and the whiskey industry is expected to record around 6% CAGR between 2021 and 2027, driven by changes in consumer taste preferences and the growing demand for traditional aged whiskeys.
It is no wonder that in 2020, the Scotch accounted for 75% of Scotland’s food and drink exportsthe twenty-one % of all food and drink exports from the UK and the 1.4% all exports of goods of that country. The scotch whiskey industry contributes £5.5 billions in gross value added to the UK economy.
Source of employment
Since over 500 yearsthe Scottish whiskey industry is an important cultural and economic feature not just from Scotland, but from all over United Kingdom. East quintessential british symbol has driven for many decades the growth of communities throughout the island of Britain. Until today there are 137 working Scotch whiskey distilleries across Scotland and about a few 22 million barrels lie maturing in warehouses waiting to be discovered.
According to data from S.W.A.currently this market produces more than 42 thousand jobs throughout the UK and generates more than 11 thousand direct jobs; 7 thousand of these positions in rural areas of Scotland that provide vital jobs and investment to communities in the Highlands and Islands. In addition to these lands are obtained around the 90% of barley requirements of the entire industry.
But the whiskey market goes further. Until before the global health emergency, in 2019, there were 2.2 million visits to Scotch whiskey distilleries, making the industry Scotland’s third most popular tourist attraction. Tourism plays an extremely important role in all this, two out of three visitors are international travelers. Distillery visits have increased by two-thirds since 2010, and more than 1,200 people were directly employed in tourism functions at the scotch whiskey resorts: the 10% of direct industry employment in Scotland in 2019.
The figures also show that the industry has invested in the last five years more than £200 million in whiskey tourism To meet the increased demand for visitors, some 2 million a year. In 2019, spending at resorts reached nearly 85 million pounds sterling. This coupled with the economic spillover in restaurants, pubs, hotels, transportation and other attractions with which the distilleries work at the local level, which are important sources of income for this industry.
Another essential feature for future for distilleries in Scotlandis he ecological aspect. The Scotch whiskey industry has maintained a constant investment in innovation and research from grain to glassto ensure that future generations can enjoy the national drink of this country.
Source: Ambito
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