DIAGEO's announcement that it plans to invest £150 million in whisky visitor centres in Scotland over the next three years provided a double dose of good news for Scotland.
The drinks giant underlined that it sees potential to achieve a big increase in global whisky sales around the world. It reckons economic growth in areas such as Asia and the increasing interest in where products come from will provide a big boost to business.
It is notable that the company expects its visitor centres both to capitalise on growing interest in Scotland as a tourist destination and to help reinforce it.
Investment in whisky tourism holds out the prospect of a virtuous circle being created, in which interest in the spirit encourages more people to visit Scotland.
Announcing the visitor centres investment on a trip to Edinburgh, Diageo chief executive Ivan Menezes appeared relatively relaxed about the prospect of Brexit. He appeared confident ministers understood the need to ensure the interests of the industry were protected as they tried to cut trade deals.
If all goes to plan the investment in the centres could allow Scotland to capitalise on two key strengths, in its whisky and tourism industries. Given Diageo’s scale, one imagines it follows rigorous analysis.
But both benefit from advantages that are denied to other industries.
Scotch has to be distilled and bottled in Scotland. The country’s scenery can’t be offshored.
History has shown investment in assets like electronics plants can easily be moved overseas
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