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Edinburgh is the capital city of Scotland. It is the second largest financial centre in the United Kingdom. and the city’s historical and cultural attractions have made it the United Kingdom’s second most popular tourist destination (likewise after London), attracting over one million overseas visitors each year. Edinburgh is Scotland’s second most populous city and the seventh most populous in the United Kingdom. The city has the strongest economy of any city in the United Kingdom outside London and the highest percentage of professionals in the UK with 43% of the population holding a degree-level or professional qualification. According to the Centre for International Competitiveness, it is the most competitive large city in the United Kingdom. Their economy is based mainly on financial services, scientific research, higher education, and tourism. Tourism is also an important element in the city’s economy. Tourists visit historical sites such as Edinburgh Castle, the Palace of Holyrood house and the Old and New Towns. Their numbers are augmented in August each year during the Edinburgh Festivals, which attracts 4.4 million visitors.