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London 2062: The Future of the London Economy

London 2062: The Future of the London Economy . Mark Kleinman Assistant Director for Economic and Business Policy. Mayor’s Economic Development Strategy: Key Themes. London: World Capital of Business Improving London’s Competitiveness Transforming to a low-carbon economy

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London 2062: The Future of the London Economy

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  1. London 2062: The Future of the London Economy Mark Kleinman Assistant Director for Economic and Business Policy

  2. Mayor’s Economic Development Strategy: Key Themes London: World Capital of Business Improving London’s Competitiveness Transforming to a low-carbon economy Extending economic opportunity Investing in London’s future EDS is a long-term high-level strategy

  3. Guiding Economic Principles Release of creativity, support entrepreneurialism Facilitate activity, not top-down planning Maximum impact from use of public resources Collaborative approach, joint working

  4. London’s economy – fundamental strengths Vast, global city economy Job growth of 800,000 between 1996 and 2008; possibly another 750,000 by 2031 – 5.45 million in total. International centre of trade and innovation Resilient, diverse economy Strong globally competitive position

  5. London’s economy – potential threats Threats to competitiveness Worklessness and skills Responding to climate change Quality of Life

  6. London’s economy in 2062? The honest answer: we don’t know… Major drivers since 1962: Globalisation and internationalisation Shift to knowledge economy: financial and business services; cultural and media; digital and tech; Hyper-diverse population How many of these were anticipated?

  7. Continuities: knowledge economy

  8. Continuities – global hub

  9. Continuities – importance of infrastructure

  10. London’s economy to 2062 (personal view) From Knowledge City to ‘Smart City’; infrastructure, skills, innovation Continuing global hub – but change in centre of gravity of global economy Avoiding polarisation – both within the city and in relation to other UK cities

  11. Thank you

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