London ranks 6th most innovative and technology focused location in 2019
As highlighted in the Data Capitals Index, the comparative ranking of London is expected to fall between 2019 and 2024, from 4th to 6th overall. This deterioration is due in part to an expected short-to-medium term disruption to growth influenced in part by the UK’s decision to leave the EU and the European single market.
As a proportion of the overall city economy, the AI, IoT, Blockchain and 5G in aggregate are currently estimated to contribute £6.25 billion to the overall economy of the London, which amounts to an estimated 1.76% of the city’s overall economy.
The overall contribution in terms of value to London’s economy of the four tech technologies by 2029 is expected to grow to £24.29 billion, representing an increase in real terms of £10.33 billion p.a. compared to 2024.
Read the London Digital Capitals Index to see the city’s 2029 digital capital predictions and key insights into how business can make the most of the opportunities the digital economy will bring.
It’s essential that London and the businesses associated with it take all the right actions that, in spite of the current uncertainties, see this digital capital continue to invest in and take advantage of the new technologies that will help them thrive and grow