No Recession impact on Scotch whisky industry

London : The whisky industry in Scotland, one of the most popular in the world, has not been affected by the economic downturn because of developing overseas markets, especially in India, China and Brazil, a report said.

Scottish whisky exports increased by 23 percent last year, Sky News reported.

Whisky has become one of Britain’s biggest exports at a time when the country’s economy was ailing. The drink is now worth over 4.5 billion pounds (Rs.370 billion) a year.

Every second, 125 pounds (around Rs.10,300) are being poured into the British economy through revenue and jobs centred around whisky.

“Obviously their economies are doing very, very well. There’s a growing middle class which obviously has growing disposable income,” said Iain Weir, marketing director of the Gelngoyne Distillery, near Loch Lomond in Scotland.

“They are aspirational with regards to their consumption and I’m delighted to say whisky, and in particular single malt whisky, is very much on their shopping list. I think they very much appreciate the history and the provenance and authenticity that comes with Scotch whisky,” he said.

But there is also a concern that if such a demand continues, it could outrun supply.

Rosemary Gallagher, from the industry’s governing body, the Scottish Whisky Association, says distillers were prepared.

“Companies have seen this demand coming and have planned ahead. Scottish whisky is a long term industry. So companies have invested one billion pounds in infrastructure in the last five years, expanding distilleries and opening new warehouses, so we’re geared up for demand,” she said.

Facebook Notice for EU! You need to login to view and post FB Comments!

The opinions, beliefs and viewpoints expressed by authors, news service providers on this page do not necessarily reflect the opinions, beliefs and viewpoints of Hill Post. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual. Hill Post makes no representations as to the accuracy or completeness of any information on this site page.

Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.