I was pleased to sponsor and speak at TheCityUK’s recent parliamentary launch of their ‘Enabling growth across the UK 2023’ report. It provided a valuable opportunity to gain deeper insights into the vital impact of the significant financial and related professional services industry on the lives and communities of people in Wimbledon. I had the pleasure of meeting several industry representatives, all keen to strengthen a partnership with policymakers to see the industry make an even greater contribution to regional and national growth.
The report shows that financial and related professional services, from banking, insurance and asset management, to audit, accountancy and legal services, are a true national success story, contributing over 12% of the UK’s economic output in 2021, equating to £13 out of every £100.
It was particularly interesting to learn that out of the nearly 2.5 million people employed in this industry, two thirds are located outside London. This underlines the important role the industry plays in local economies and communities.
In Wimbledon the financial and related professional services industry employs 5,615 individuals. This represents 9.4% of the total workforce and generates 27% of regional economic output.
This is an industry that drives growth, acting as an enabler for the whole economy. It creates high-skilled, well-paid jobs, attracting investments and growing prosperity throughout the nation.
