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Date updated: 18/05/2022

Analysis has revealed the sizeable contribution of regional financial services industries to the wider economy.

The sector drives employment, productivity and exports across the country.

• Financial and professional services employ nearly 2.3 million people nationwide.
• One of the most productive sectors in the economy creating 7.1% of output, it provides 11% of total government tax revenue.
• The UK is the world's largest net exporter of financial services - with a trade surplus of £61bn.
• Inward investment in financial services is more than double the amount attracted by any other sector and half the jobs this creates are outside London.
• Financial services enable the growth of innovative firms. In the last five years, £32bn has been invested in more than 2,500 UK companies by private equity and venture capital funds in the UK.
• The UK's innovative fintech sector reached a record investment of £16bn in 2018, the highest in Europe.
• Jobs in the sector are highly productive, with productivity of over £100k per job, more than double the average for all industries.
Financial and professional services are UK-wide industries

Financial and professional services are UK-wide industries

The UK is home to the world's most global and outward looking financial markets - making it attractive to international investors. The depth and breadth of the nationwide offer for investors means unparalleled opportunities for growth. A culture of innovation means an inspirational ecosystem, where business and investments can thrive.

Financial services hubs around the UK PDF (126KB)
Date submitted: 12/12/19