Report indicates £100bn potential of ‘transformational' projects

31st May 2025

ekosgen, part of GC Insight, was commissioned by Highlands and Islands Enterprise (HIE) on behalf of the Highlands and Islands Regional Economic Partnership (HIREP) to undertake research to better understand the breadth of economic opportunities across the Highlands and Islands.

The dual purpose of the study is to better understand the breadth of economic opportunities with the greatest potential to bring transformational change to the region's economy and society. And to inform planning and decision-making by HIREP partners to maximise benefits.

The findings will be used to inform policies and planning around topics such as population attraction and retention, skills, housing provision and transport.

A collaborative, holistic, and place-based approach is described in the report as ‘critical' in realising the benefits of the opportunities, and something that ‘must happen at pace'.

Throughout the report projects are referred to as Regional Transformational Opportunities (RTOs). The study sought to identify and quantify (where possible) strategic projects and investments planned or proposed for the region over the period 2025 to 2040. RTOs covered within the study included:

Offshore wind
Onshore wind
Hydro pumped storage
Green hydrogen
Marine energy
Space
Marine biotechnology and processing
Life sciences, digital health and social care
Natural capital
Critical infrastructure developments
Membership of the HIREP includes local authorities, Highlands and Islands Enterprise, Skills Development Scotland, Scottish Funding Council, UHI, NatureScot, VisitScotland, Bord na Gaidhlig, HITRANS, Cairngorm National Park Authority, the Crofting Commission, business representatives and third sector organisations.

The full report and executive summary are available to view and download below.

Regional Transformational Opportunities In The Highlands And Islands Executive Summary May 2025 (PDF / 2 MB )
https://www.hie.co.uk/media/dxnnkmq0/regional-transformational-opportunities-in-the-highlands-and-islands-executive-summary-may-2025.pdf

Regional Transformational Opportunities In The Highlands And Islands Report May 2025 (PDF / 3 MB )
https://www.hie.co.uk/media/svoh1nxy/regional-transformational-opportunities-in-the-highlands-and-islands-report-may-2025.pdf