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London Employment 2020

Where are we now?

According to the Mayor’s publications in 2003, London is one of the wealthiest and most vibrant economies. London is a global centre for international business with over 25% of the world’s largest companies having their European HQ in London. Finance and business services, with a growth of 550,000 jobs since 1993, are at the heart of this expansion. Moreover, London has become the focal point for dynamic sectors such as the creative industries in which 400,000 Londoners work. London has more foreign bosses than Germany, France and America, 8 out of the 20 top companies have foreign CEOs.

What are the authorities planning for the future?

The long-term projection for London’s working age population will continue to grow faster than the rest of the UK. A well-publicised press release (11 March 2002) of the Greater London Authority (GLA) reports that London’s population is predicted to surge by 700,000 by 2016. With this prediction, the Mayor’s population projection of 8.1 million is substantially higher than figures offered by the Office for National Statistics. Their figures, which are used by the British government, envisage a population of 7.6 million by 2016 (London's population in 2002 was 7.4 million).

How are government plans going to affect Euronet members?

• Certainly London’s growth is unique in the UK, but has this been at the expense of increased polarisation between the rich and the poor?
• Has the GLA the means to face the massive growth predicted?
• According to an article in The Economist (August 2003), “immigration may be politically sensitive, but the government understands how migration has driven London’s economy, and London has driven Britain’s. It wants the motor to keep on running.” How do you see London's population growth?

What are your thoughts? Contact us by emailing london2020@euronet-london.com

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