Financial and Monetary Systems

How London’s financial sector has more employees than ever before

Will Martin
Markets Reporter, Business Insider UK

There are now more people working in the City than ever before, according to new evidence from TheCityUK released on Friday.

As of June, more than 700,000 people were working in the financial sector in the capital, up 2.2% from the start of the year. More people are going to keep pouring into the City to work as well, with more than 7,300 jobs forecast by the end of the year.

Chris Cummings, the chief executive of TheCityUK said “London is the leading international financial centre and the industry is a major contributor to the national economy – attracting more foreign direct investment and contributing more tax (£66 billion in 2013/2014) than any other industry in the UK.”

Across the industry, the biggest rises in employment were in accounting and management consultancy, where there are now 260,500 people working, up 4.7%, and in fund management, which grew by 4.3%.

“A strong financial and related professional services industry and a strong economy go hand-in-hand and we urge policymakers to create a supportive environment to ensure London and the UK remains a competitive and attractive place from which and within which to do business.” said Cummings

If you want to know more about how London’s financial sector is structured, check out this awesome infographic from TheCityUK:151013-london financial sector BI infographic

This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.

To keep up with the Agenda subscribe to our weekly newsletter.

Author: Will Martin is a digital fellow at Business Insider UK. 

Image: Silhouetted workers walk in front of office towers. REUTERS/Luke MacGregor.

 

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

Sign up for free

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Stay up to date:

United Kingdom

Related topics:
Financial and Monetary SystemsJobs and the Future of Work
Share:
The Big Picture
Explore and monitor how United Kingdom is affecting economies, industries and global issues
A hand holding a looking glass by a lake
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale
World Economic Forum logo
Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe today

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

Climate adaptation finance: The challenge for institutional investors and commercial banks

Matthew Cox and Luka Lightfoot

November 22, 2024

What is the gig economy and what's the deal for gig workers?

About us

Engage with us

  • Sign in
  • Partner with us
  • Become a member
  • Sign up for our press releases
  • Subscribe to our newsletters
  • Contact us

Quick links

Language editions

Privacy Policy & Terms of Service

Sitemap

© 2024 World Economic Forum