London is widely recognised as a leading global financial centre and, for the first time in 2019, the city played host to Sibos, the annual financial industry event.
Much of London's finance industry is located at the ‘Square Mile’ or the ‘City’, the long standing business hub of London. The other major financial district is the Canary Wharf area, east of the City. It is estimated there are 40,000 London-based companies operating in the financial services sector employing around 315,200 people. Some of the major financial institutions currently having their headquarters in the capital are The Bank of England, Lloyd’s of London, Barclays and the London Stock Exchange.
Digital and technology
London’s digital and technology industry plays a fundamental role in the British economy. This industry has helped position London as Europe's undisputed digital capital and has been a catalyst for growth across various industry sectors. The technology scene in London is centred around Shoreditch and Old Street, east of the City, where 40,000 tech businesses thrive in the area commonly known as Silicon Roundabout.
A joint report published by Deloitte, Intel, EMC2, and London First revealed that currently one out of every ten jobs in this sector is based in London, and approximately 50 per cent of the UK's digital media jobs are in the capital. In total, it is estimated that more than 251,000 people work in the city’s digital sector.
London has a long history as a centre for advancement in medicine and biology and today, together with Oxford and Cambridge, forms the ‘Golden Triangle’, a global hub for life sciences.
With a unique ecosystem combining a rich network of world-class universities, leading research centres, healthcare providers, medical charities, innovative small businesses and global industry players, London’s life sciences sector is highly attractive for investment.
Life science initiatives across the capital include the London Cancer Hub (a partnership between the Institute of Cancer Research and London Borough of Sutton), The Cube (a post-incubator scientific research & development facility in Dagenham, East London), The Francis Crick Institute (bringing together 1,500 scientists and support staff, with a focus on finding new ways to treat, diagnose and prevent a range of illnesses), and Imperial College London’s White City campus (co-locating researchers, businesses and higher education partners on a 25-acre site).
London boasts more than 1,600 hotels and over 159,000 bedrooms - with an additional 7,995 bedrooms across 65 new hotels set to open in 2020.
|5* hotels||18,470 bedrooms|
|4* hotels||57,203 bedrooms|
|3* and under properties||33,050 bedrooms|
|Other (student accommodation / home sharing)||50,733 bedrooms|
London is home to more than 1,000 diverse venues, from purpose-built conference centres and hotel meeting spaces, to royal palaces and unique attractions.