VisitScotland’s return on investment (ROI) figure has nearly doubled since 2002, bringing more than £40m in additional spend to the Scottish economy, the agency has claimed.

According to VisitScotland’s annual report for 2004-5, ROI is currently £23 for every £1 spent by the organisation – compared to a ROI figure of £13 for every £1 in 2002.

The increase is largely attributed to the success of the pan-European Welcome to our Life campaign run this year.

The marketing campaign, which received two accolades at the Marketing Research Awards, was based on research which showed that people’s holiday preferences are more likely to be determined by age, gender, lifestyle and income rather than nationality.

The news comes just weeks after the 2004 international passenger survey reported a rise of 23 per cent in visits from the European Union.

Philip Riddle, chief executive of VisitScotland, said: “We are very pleased with the return on investment figures, which are a direct reflection of a combination of our marketing campaigns.”

“2004 was a period of substantial change for VisitScotland – and the tourism industry as a whole – and these results recorded in the annual report are an endorsement of everything we are doing to market Scotland.”

Tourism is one of the most important sectors of the Scottish economy, employing around 200,000 people.

It is estimated that the industry generates around £4.4bn in annual revenues – nearly 9 per cent of national GDP.