London is heading for a rebound as the lockdown unwinds and businesses get back to normality. While a UK-wide recovery is in the works, London’s crucial financial services and growing fintech hub can help to kickstart the economy and jobs growth once more. Just this month, it was announced that film production capacity would be expanded by 53% at a new studio complex in Enfield as demand returns for TV, commercials and filmed entertainment. Prior to the lockdown, the UK’s creative sector was growing at an exponential rate with companies like Disney and Netflix making significant investments in and around London for productions.
And the news is also good for other service based businesses as people go back to offices and productivity returns to the capital for the first time since March where companies big and small had to close offices. Only key workers had been able to commute during the lockdown, and with the further easing of restrictions towards the end of June, London’s important tourism and leisure sector could start to see a pickup.
The arts have been particularly impacted from the pandemic as well as cinemas, theatres, retailers as well as sporting venues. And as football matches return and businesses start to advertise, key sectors including PR, marketing, catering and events are already seeing an uptick in demand.
Could the London rebound reverberate across the UK?