Do you think it is good news or bad news for you? If you are in business and operating as a local business in London, this means you have more opportunities and consumers in the coming years.
This is one of the reasons we at ClickDo Digital Publishing and our Local Business marketing team moved to Central London to help Startups and Local Businesses in London. Since moving to London I’ve got the opportunity to work with some interesting entrepreneurs in the city and I will be writing and sharing them in the coming articles.
The news says that London’s population is growing twice as fast as the rest of Britain. The new data also shows the capital has the youngest population in the UK compared with other regions. That means the local businesses in London should be targeting young people and their requirements more than ever.
One of the other reasons to this boom might be due to the fact that London has the highest wages and contributes more to GDP than any other city in the country.
It’s shown that from 2011 to 2012 the number of people in the capital leaped by 1.3 % to 8.3 million, while the rest of the population grew just 0.7 %.That means London remains the most populated area in the United Kingdom with a density of 5,285 people per square Kilometre, against 411 elsewhere in England.
The average age of a Londoner is 34 compared 40 in the rest of the UK. The news also shows that the capital generates 22 % of the UK’s total economic output, which is a larger share than any English region, Wales, Scotland or Northern Ireland.
Local Business were also created much faster in London but at the same time the unemployment rate is at 8.8 and higher than the national average. However it is said that those with jobs enjoy the highest wages with £613 a week compared with a UK Average of £506. This is something I wouldn’t agree as a person who worked in the corporate sectors for over three years in UK. I’ve seen most of the office workers taking home as little as £300 or even £250 in most case in areas like West Midlands. The office of national Statistics has said “House prices in London are notably the highest in the UK.
If we look at the crime rates it has the highest in the country with 95 recorded crimes per 1000 people, compared to 64 in the rest of the country.
- Croydon ‘least happy’ part of London and Islington ‘most stressed‘ (standard.co.uk)
- Scots are most productive workers in the UK but have the shortest lives (dailyrecord.co.uk)
- London’s economic boom leaves rest of Britain behind (theguardian.com)
- Scottish isles residents ‘happiest in Britain‘ (scotsman.com)