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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

London 2062: The Future of the London Economy

Mark Kleinman

Assistant Director for Economic and Business Policy


Mayor s economic development strategy key themes
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


Guiding economic principles
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


London s economy fundamental strengths
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


London s economy potential threats
London’s economy – potential threats

Threats to competitiveness

Worklessness and skills

Responding to climate change

Quality of Life


London s economy in 2062
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?





London s economy to 2062 personal view
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



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