LONDON - The United Kingdom (UK) is one of the world’s leading international financial and related professional services hubs,with London central to this position.
Amidst ongoing political and economic uncertainty, the UK-based financial and related professional services industry continues to demonstrate its resilience and adaptability, remaining a key source of international competitiveness. The UK remains the world’s second-largest exporter of financial services (after the US) and is the largest financial services net exporter (that is, measuring industry exports minus imports).
This report uses the latest available annual data to highlight a number of measures and markets that demonstrate the UK’s role as an international financial centre.
Key facts about the UK as an international financial centre:
- THE UK’S TRADE SURPLUS IN FINANCIAL AND RELATED PROFESSIONAL SERVICES IS
£92 BILLION
- THE UK HAS OF THE GLOBAL TOTAL OF 38% FOREIGN-EXCHANGE TURNOVER
- LONDON HOSTS AROUND 170 FOREIGN BANKS OR BRANCHES
- THE LONDON MARKET EMPLOYS MORE THAN 48,000 PEOPLE AND EARNS MORE THAN $120M ANNUALLY IN PREMIUMS
- THE UK HAS 14% OF THE GLOBAL TOTAL OF CROSSBORDER LENDING
- THE UK’S EQUITY MARKET CAPITALISATION WAS 90.6% OF ITS GDP AT THE END OF 2022
- THE UK ACCOUNTS FOR 38% OF GLOBAL FOREIGN-EXCHANGE TRADING
- AROUND TWICE AS MANY US DOLLARS ARE TRADED IN THE UK AS IN THE US
- OVER 410 ACTIVE SUSTAINABLE BONDS WERE LISTED ON THE LONDON STOCK EXCHANGE (LSE) FROM OVER 120 ISSUERS IN 2022, WHICH HAVE RAISED AROUND £160.4 BILLION
- THE UK ACCOUNTS FOR 5.4% OF GLOBAL INSURANCE PREMIUMS
- HE UK PRIVATE EQUITY MARKET IS THE MOST DEVELOPED IN THE WORLD OUTSIDE THE US. UK PRIVATE EQUITY FUNDS INVESTED £44.7 BILLION THE LARGEST AMOUNT IN EUROPE, IN 2022
- UK-BASED ISLAMIC BANKS’ ASSETS REPRESENT 85% OF TOTAL EUROPEAN ISLAMIC BANKING ASSETS (EXCLUDING TURKEY); AROUND £5.3 BILLION IN 2022
- THE UK IS HOME TO AROUND 200 FOREIGN LAW FIRMS FROM AROUND 40 JURISDICTIONS
- NON-UK STUDENTS REPRESENT 23.8% OF THE UK’S TOTAL UNIVERSITY STUDENT POPULATION
- THERE ARE 1,600 FINTECH COMPANIES IN THE UK
For the full report, visit: https://www.thecityuk.com/media/vp1jlxxr/key-facts-about-the-uk-as-an-international-financial-centre-2023.pdf
