Bringing home the gold: Scotland's real prize in a summer of sport must be fresh investment

The Games is the culmination of a summer of sport that saw Scotland's footballers compete in their first men’s World Cup in 28 years. While results might not have gone our way, a carnival atmosphere accompanied the Tartan Army across the US - with video clips going global of fans befriending locals, singing and partying in the bars and streets of Boston and Miami. They did the country proud by spreading warmth, kindness and mutual respect wherever they went.

That affection for Scotland is an asset, but the question business and political leaders will be asking is: “what are we going to do with it?”

Because here is the uncomfortable truth – cultural affinity and inward investment are not the same thing. A favourable impression of Scotland and its people travelling abroad often does not convert itself into an aerospace investment in Ayrshire, a life sciences campus in Dundee, or a new Glasgow fintech operation.

Similar countries win investment they have no natural right to, because they chase it harder, follow up faster and clear the path of hurdles quicker: one front door for investors, planning decisions counted in months, not years, and the government at national and local level ready to say “yes” from the get-go.

Scotland has spent years as one of the strongest performers in the UK for Foreign Direct Investment outside of London. EY's latest Scottish Attractiveness Survey shows that standing is holding firm: Our ability to attract overseas investors is at a record level, and a third of businesses planning UK investment now say they would choose Scotland, up from 27 per cent a year ago.

That is a record to be proud of and, just as importantly, one to defend. The EY survey carries a warning as much as a vote of confidence: project numbers fell 20 per cent in 2025, proof that capital is more mobile and more contested than it has ever been.

The energy transition supply chain, advanced manufacturing, financial and professional services, life sciences: these are exactly the sectors where global investors are deciding now, this year, where to commit for the next decade. They are not waiting for us…

What those investors want is speed, predictability, and the confidence that Scotland can act fast when they say yes. The First Minister's recent focus on reforms to business rates, planning and skills are welcome, but the gap between announcement and delivery matters. Planning decisions still take too long and carry too much uncertainty, the skills pipeline still does not reliably match the jobs we are trying to attract, and business rates have become too unpredictable and inconsistent.

These are not minor friction points, they are the difference between a project landing here and landing somewhere else. Ireland last year attracted three times as many investment projects from abroad as Scotland. It achieved this by converting affection and visibility into FDI, by being ruthlessly easy to invest in with one clear pitch, fast decisions, and a standing welcome for the capital it seeks to attract.

Which brings me to the sporting event that is set to bring thousands of spectators to Scotland. The official assessment valued the 2014 Glasgow Commonwealth Games at £740m for the Scottish economy, £390m of that coming to Glasgow itself. The challenge with these slimmed down Games is to look beyond the initial economic jolt and focus instead on what long-term inward investment could mean for Scotland built on the back of “Brand Scotland”.

Our ask of government and business is simple. Treat the Games as more than a sporting celebration and make it a real commercial opportunity. It is a pipeline to investment, jobs and growth that can continue long after the medals have been handed out.

That means a single, coordinated trade and investment offer running through the summer with “Brand Scotland”, Scottish Development International, the Scottish Government and its agencies and business all pulling in the same direction. It means hosting the investors, buyers and trade delegations attending the Commonwealth Games, and putting concrete propositions in front of them that will be followed up after the closing ceremony.

The Scottish Government's decision to base “Scotland House” at The Corinthian nightclub in Glasgow during the Games is a good start. Investors and trade delegates are expected to drop into networking events at “Scotland House”, such as the CBI Scotland’s business reception on July 28.

With Ahmedabad confirmed as host of the 2030 Centenary Games, Indian business leaders will be in Glasgow, and the recently agreed UK-India Free Trade Agreement has opened real doors for Scotland - particularly in premium food and drink. But India is one conversation among many. The Commonwealth spans 74 nations and territories, more than 2.7 billion people, and a combined GDP $14 trillion - and projected to reach $20 trillion by the end of the decade. These are not peripheral markets. This is where the next decade of global growth is being shaped.

For 12 days this summer, Scotland will command the attention of the people and countries that will decide on billions of pounds of investment. The Commonwealth Charter speaks of nations bound by shared values and a shared commitment to prosperity. Scotland has the values. The question is whether we have the ambition to capture that prize?

Michelle Ferguson OBE, director, CBI Scotland