London’s Economic Boom: The Decade of Growth
People have been shouting from the rooftops that London is the place to be, and the numbers back it up. According to Instant Offices, the city’s economy has been on a roll over the last ten years, with three powerhouse sectors leading the charge:
- Information & Communication – think tech and telecoms that keep us all connected.
- Financial & Insurance – the money‑making engines that smooth the cash flow.
- Professional, Scientific & Technical Services – the brains, the data, the patents.
What the UK Business Register and Employment Survey (BRES) Tells Us
The BRES has pulled back the curtain on how different segments are breathing new life into the job market – both in London and across the UK.
Snapshot: 2015‑2016
- The UK saw a 1.8% increase in total employees, rising from 29.5 million to 30.0 million.
- London’s workforce expanded by 2% – a notch above the country’s average.
- The East of England was the fastest-growing region, with a 3.2% jump.
- The Professional, Scientific & Technical sector boomed by 4.7% – the biggest single employee surge.
- When you pair that up with Accommodation & Food Services, you get another 4.7% spike.
- Employees in the Professional, Scientific & Technical field made up a hefty 21% of all the new hires across the UK.
- In a dramatic twist, several other sectors dipped:
- Retail – down 2.2%.
- Agriculture, Forestry & Fishing – down 1.4%.
- Education – a slight drop of 0.4%.
- Property – slipped by 0.6%.
- Public Administration – fell by 0.2%.
Why It Matters
These numbers paint a clear picture: London isn’t just a global capital; it’s a flourishing ecosystem where tech, finance, and innovation drive the job market forward. While some classic industries are cooling off, the city’s future looks bright for those riding the wave of digital and professional services.
So, whether you’re a coder, a financier, or a scientist, London’s got the buzz, the jobs, and the opportunity to make your mark. And if you think it’s cold in December, remember – there’s a whole economy warming up on the streets of the City!
Where are London’s top sectors based?
Where London’s Workforce is Grown and Grounded
Inner London: The City’s Job‑Junkyard
Think of inner London as the hotspot where the big three sectors—tech, finance, and pharma—settle down and thrive. The area’s creative veins pulse with an entertainment and hospitality crowd that keeps the skyline bright. This includes jobs in everything from hotels and restaurants to art galleries, music venues, and retail stores.
Outer London: Residential Work‑Rivets
Out here, the city’s labour force is geared toward serving the everyday needs of the community. Healthcare, education, business administration, and retail dominate the employment charts, giving residents a steady stream of jobs that keep the neighbourhoods running.
West London’s Big Movers & Shakers
In the outer west, the scene shifts toward industry, especially around the world‑famous Heathrow hub. Transport and storage, wholesale, manufacturing, and utilities create a strong job base that fuels the local economy and keeps traffic moving smoothly.
Top London sectors to watch
Fast‑Growing Sectors 2018 and Beyond
Ready to discover which industries are set to boom? Grab a seat – these markets are rolling out the red carpet for investors and job seekers alike.
Tech: The Digital Frontiers
- Investment buzz: Since 2011, a whopping £28 billion has flowed into the tech arena. The honey‑pot keeps getting bigger.
- Growth chaser: Tech is actually outpacing the UK’s overall economy according to Tech Nation. That’s a sign of a thriving sector sure to keep its upward momentum.
- Cyber‑skills in demand: The Recruitment & Employment Confederation (REC) forecasts a surge in cybersecurity roles. Businesses want you in the trenches to ward off those cyber‑villains.
FinTech: The Money‑Tech Boom
- 2017 saw a record-setting year for fintech investments in the UK, with over $1 billion poured in.
- More than 90 % of that cash hit London‑based firms – proving the capital city is a hot spot for fintech.
- With momentum packing, the financial tech engine is revving up, giving London’s economy a powerful turbo‑boost.
Design & Creative Industries: Art Meets Economic Ride
- According to Nesta and the Creative Industries Council, creativity is pushing the UK’s GDP upwards.
- Local economies have seen a stunning 11 % growth in creative employment – twice the pace of most other sectors.
- The art of making money is proving to be real business.
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