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A guide to working in Central London

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The Central London district (defined by the postcode WC) has the distinction of accommodating more than half of the UK 's top 100 FTSE-listed companies and over 100 of Europe's 500 largest companies, which makes this part of the capital the most productive area in the UK.

Indeed office occupancy rates in WC – meaning Western Central - are the highest in the world with the Central London district continuing to demand significant prestige in the business sector. All of which contributes to London 's prestige as one of a handful of world cities and competes on a global stage with the likes of New York , Tokyo and Paris .

Then and now
Central London has been one the major economic drivers for the UK economy over the past decade, with its recent economic performance being in sharp contrast to the forty-year post-war period. Indeed, during the decentralisation years that took place after the Second World War - with the creation of the so-called ‘new towns' - London lost both people and industries who were encouraged to move away from the capital so as to stimulate the regional economies of the South East. But this had a negative effect on London 's own economy and by the late 1970s the then Government saw sense and abandoned the idea. Since then, key districts such as Central London have seen a renaissance of economic activity.

Between 1993 and 2003 more than 850,000 new jobs were created and today, Central London is one of the most important districts in the UK . But surprising as it may seem, this area was largely dominated by industry and until the late 1970s, as many as 1 in 4 workers thirty years ago were employed in manufacturing . However, the decline of the industry across the country has seen the manufacturing's role significantly reduced as an employer, supporting fewer that 3 per cent of jobs in the WC district. In its place, the service sector is now the mainstay of the local economy.

The rapid growth of the capital in the 1990s was spearheaded by the booming financial and business services sector but this was brought to an end by the collapse of the hi-tech industries that both marked the end of the dot com era and severely impacted on the financial markets. Job losses ensued and although the growth of this sector over the last five years has been sluggish - buoyed largely by the overwhelming legal and accounting firms located in the WC district - it continues to be a major employer in the district, accounting for around 32 per cent of all jobs in Central London with the likes of PriceWaterhouseCoopers based here.

As in other regions of the UK , the public sector's role as a major employer has continued to increase in recent years, with around 20 per cent of jobs found in the fields of public administration, health and education. Indeed, some of the major employers in this sector include, University of London Birbeck , the University of London , and Great Ormond Street Hospital .

Renowned for its shopping offering, Central London 's retail and distribution sector is one of the most important economic drivers for the WC economy both in terms of employment and contribution to GDP. Like the public sector, growth in retail employment since 2005 has been constant. And despite the closure of a number of leading high street names in recent months, Central London 's retail sphere continues to perform well - with Oxford Street at its centre.

And piggybacking the retail sector is hospitality. Employment within the hospitality sector has also experienced steady growth in recent years, thanks to a combination factors. Firstly, there has been a growing trend for holiday makers to opt for UK destinations rather than overseas. And secondly, Central London has a plethora of leading hotels in the Covent Garden, Bloomsbury and Russell Square areas to name but a few, that are increasingly being used for conferences, events, exhibitions and business functions. Thereby contributing to a significant business tourism industry.

And when you factor the expansion of Central London 's night time economy, with a number of new bars and restaurants opening as the city's population continues to rise, the hospitality sector is now one of the most important employers in the district, responsible for around 21 per cent of all jobs.

Given that London 's main means of getting around is via bus or tube, it follows that the transport sector plays a significant role too. With 21,000 people employed by London Underground alone, this sector accounts for around 8 per cent of all jobs in Central London . 

Key business districts
There are a number of important business districts throughout Central London, with Westminster being one of the most prominent. Indeed, the Central area is important both on a national and international scale, employing over 1.5 million people in fields ranging from international banking and finance to retail and leisure.

However, there are some areas whose sector speciality is more obvious than most.

Oxford Street is arguably the commercial and retail centre for London and is complemented by the equally impressive Covent Garden . Whereas Bloomsbury is home to numerous hospitals and academic institutions. Gray's Inn is the legal capital of London and home to the Royal Courts of Justice

If you're thinking of moving to the area, take a look at some of the current property available to buy or let in Central London.

Take a closer look
A picture is worth a thousand words. You can see some images from in and around Central London below.


Looking for local vacancies? See all current jobs in Central London or find out more information on the local area.

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