"2018 has cemented Dundee's reputation as a must-see city. This iconic structure will be a game-changer, not just for tourism in Dundee, but also the surrounding areas of Angus, Perthshire and Fife - drawing visitors from far and wide, growing the economy, creating jobs and sustaining communities.

"Since the announcement was first made over a decade ago, excitement and anticipation has been mounting and Dundee has undergone an incredible tourism transformation.

"VisitScotland, V&A Dundee, relevant stakeholders and the wider industry are working closely to position the East of Scotland as a destination to visit, live and work, study and invest in."

Dundee City Council Leader, Councillor John Alexander said: "V&A Dundee is the perfect illustration of how the city is forging a new path and being transformed for every resident, worker and visitor. We are not a city which limits its ambitions and there is much more to come from our creative and dynamic city.

"We are predicting an economic boost in the city, estimated in the region of ￡11.6 million a year and the creation of 361 extra jobs across Scotland, 249 of which will be in Dundee. We also anticipate a significant number of other indirect benefits in terms of jobs and investment from new enterprise, business and increasing footfall in the city.

"V&A Dundee presents a unique and major opportunity for the city of Dundee, the contribution it will make to realising the council's ambitions and strategies for the city are hugely significant and its completion and opening represent the result of much determined effort over a ten-year period by the council and its partners."

Tristram Hunt, Director of the V&A, said: "This cultural milestone for the city of Dundee is also a landmark moment in V&A history – we're extremely proud to share in this exceptional partnership, the first of its kind in the UK, and to have helped establish a new international centre for design that celebrates Scotland's cultural heritage."

V&A Dundee has now successfully completed its capital funding programme, the most ambitious of its kind in Scotland, and will now focus on funding the museum's exciting exhibitions and learning programmes.

Sir Peter Luff, Chair of the Heritage Lottery Fund, said: "Today the spotlight is on Scotland, and Dundee, as cultural organisations across the globe look on in awe at what has been achieved. For a small country, Scotland has an incredibly rich design heritage with creativity, innovations and inventions that have changed lives across the world.