As the results above show, the city's economy is incredibly prosperous and offers great potential. As the headquarters for the UK's finance and insurance sector, there are eye-watering sums at play here. The financial sector is crucial to the country's economy, having generated over £115.3 billion in 2016. This represents 6.6% of the overall GVA for the UK. The professional services sector is another important sector for the City of London, providing 4.7% of the UK's economic output. It is predicted that the sector will see the largest growth in employment, with an additional 509,000 jobs being created by 2050.
