13 November 2012 - 11:17am | posted by | 0 comments

Creative and media sectors set to beat financial sector in London

Shoreditch: one of the key creative areas in LondonShoreditch: one of the key creative areas in London

The creative and media sectors of London look set to beat the financial hub as the engine of growth in five years’ time, according to a new report.

The Centre for Economics and Business Research (CEBR) found that the £34 billion creative industries in the East End are growing at double the rate of the financial service sectors.

Charles Davis, head of macroeconomics at the CEBR, said: “London is evolving and adapting to life post-financial crisis.

“While in the short term there has been no shortage of pain with job losses across the City and economic output broadly flat in 2012, we think there are positive signs that the capital is adjusting and new sectors are taking prominence in different parts of London away from the City and the West End.

“This economic shift is driving social change as population in East London booms.”

The forecasters suggest that the trend will restore London’s status as Britain’s fastest growing region by 2016.

Don't miss out... Get your Advertising news by email

See all specialist newsletters

6 related companies from Profile Hub:

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

DrupalCon 2014

27/08/2014
We were selected by the Drupal Association through a...

New Forest National Park - Young David Attenborough discovers the Tech Creche

21/08/2014
Research conducted by the New Forest National Park...

Case Study | Building Blocks

20/08/2014
Building Blocks's Operations Director and Co-Founder, tell...

Social Media Training

18/08/2014
We love to share what we know and what we've learned about...