London's tech sector to outpace the capital's economy as a whole

Brexit isn't stopping London's tech sector.

Over the course of the next decade, it’s the technology sector that will be the primary driver of growth and jobs in London. This is according to a press release published by London & Partners, the Mayor of London’s promotional company.  This is particularly interesting following recent predictions that Brexit will destroy London’s position as a technology hub. 

These predictions are part of a wider finding, which will be presented by the Deputy Mayor for Business, Rajesh Agrawal, as he visits India and to find the country’s best emerging companies. The report says that the tech sector in the capital is expected to grow 18.5 per cent in the next ten years. That means a total of 284,400 people will be employed in the industry by 2026. 

The number of tech companies will grow by 33.2 per cent – London is expected to have 61,800 companies in the next decade.  And now for the kicker – the report says the tech sector will ‘outpace the growth of both the UK-wide tech sector and London’s economy as a whole’. 

That’s a bold statement. 

“With everything London has to offer to exciting tech companies – from start-ups to established firms – it’s no surprise that this sector continues to play a crucial role in the capital’s vibrant economy,” said Deputy Mayor for Business, Rajesh Agrawal. 

“Over the last week I have met leading figures from Indian politics and business, including some innovative tech companies, and discussed how we strengthen the relationship between London and India.”       

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