Economy

The finance and business services sector is projected to make the most significant contribution to economic growth in London over the next 10 years, providing over half of the gross total growth in employment. Other service activities, especially in the creative, leisure and retail industries and in hotels, catering and tourism will also grow rapidly.

• In order for the predicted economic growth to be realised London will need to continue to act as an escalator region, into which educated, skilled young people come for career advancement.
• Migration data shows that London has a net inflow of young people from the rest of the UK, however this net flow reverses as people reach their late 20’s as they step off the escalator and migrate to other parts of the UK, predominately the South East and East of England regions.

Successful cities bring people and activities together, London’s economic strength and success has been built upon cities ability to do this and will continue to do so for the foreseeable future.