Welcome to London Update, the newsletter which gives you a round-up of London success stories and news highlights in the ultimate place to do business.

August 2007

The growing business of creativity
While the financial and business services sectors will continue to drive the estimated $80 billion of growth in London over the next five years they are not the only sectors positioned for significant growth. 

London’s creative industries, including design, publishing, digital media, music and film, already significantly contribute to the London economy, accounting for more than 10% of the capital’s GDP. This platform for growth is built on a capital that contains the largest music market in Europe – and the third largest in the world, that is home to more than 60 film studios and 50 film festivals each year, as well as being firmly established as one of the “Big Four” fashion capitals of the world.   

Not surprisingly, this creative sector which is also recognised as one of the most innovative markets globally, is particularly attractive to fast growing businesses from around the world. Film London estimates that Indian productions alone contribute $52 million to the London economy each year. 

London has both the platform, talent and market access to help creative companies enter the UK market and create a springboard for growth into Europe - and with the convergence and speed of technological innovation this is a particularly exciting time for smaller and specialist companies from all over the world to come to London.

Recognising this, here at Think London we are increasing our efforts to reach out to the creative sectors both to help with entering the market now – but also to understand how we can work with existing businesses in London to support the competitiveness of London based players both internationally and locally.

There has never been a better time for creative industries in London. Let us know if we can help you.

Michael Charlton
Chief Executive, Think London

‘Thought for London’ is our new comments section which gives you our view on recent London research and news.  If you have any feedback about our comments, please contact media@thinklondon.com

Is London the new Silicon Valley?
Eric Baker, co-founder of online ticket reseller StubHub Inc believes you no longer have to be in the U.S. to build a significant internet business.  Baker who has grown London-based Viagogo to more than 30 employees in two years, turned out to be on the leading edge of an emerging entrepreneurial boom in the British capital.  A cosmopolitan city with a rich pool of technical talent, sophisticated and robust investment capability, and vast European Union labour and consumer markets, London is a natural place to take an internet startup global.

London ranked as top university city by Australian study
London has been ranked No.1 by the inaugural Global University City Index produced by RMIT University (previously Royal Melbourne Institute of Technology).  The index is believed to be the world's first in ranking university cities. It rates cities based on their scale and ‘livability’, the number of world-class universities with an internationally diverse population and their investment and performance in education and research.

Defence technology leader Raytheon expands with new systems integration centre in West London's Uxbridge
In a major expansion of its UK business, Raytheon Systems Limited (RSL), has opened its new Systems Integration Centre at Uxbridge, west London, with the help of Think London and West London Business.  Brian McKeon, RSL’s Managing Director and President, said: “This move is a benchmark for Raytheon’s UK business, enabling us to bring together our core activities.”

Hospitality and tourism strategy launched to boost 2012 benefits
Ken Livingstone, Mayor of London, has officially launched the capital's skills strategy, designed to boost opportunities in hospitality, leisure, travel and tourism in London ahead of the 2012 Games. Prepared by People1st, the Sector Skills Council for hospitality, the strategy sets out a 10-point plan of priorities. These include developing the right qualifications and improving the calibre of staff and customer levels across the sector.

2012 Update from Think London
Brendan Dineen, Director 2012 Games at Think London, has produced the monthly 2012 update highlighting key business information concerning the Games. To view, please click here

Think London announces record investment as city gears up for London Mela
As the capital looks forward to the Asian festival ‘London Mela’, India’s impact on the capital is revealed to be greater than ever.  India is now the second largest contributor of foreign direct investment projects to London, according to Think London, the foreign direct investment (FDI) agency for the capital. Think London estimates that Indian FDI accounted for 14% of all FDI projects into London during 2006/2007, up from 6% over the same period in 2000/2001.

London is place to be for India's rich
For a new breed of business people from Delhi and Mumbai, the UK is home from home.  Many already have second homes in London; others are gearing up to invest in property.  With many Indian multinational companies opening subsidiaries in London, their well-heeled executives are going house-hunting in a big way.  “Indians’ first investment abroad is always Britain,” Jaideep Singh, head of Knight Frank’s India desk.

Chefs serve up a restaurant record
More restaurants opened in London in the past year than ever before marking a golden age for dining out in the capital, according to the latest edition of the Harden’s restaurant guide. Harden’s London Restaurants recorded 158 openings in the capital in the past 12 months to August, marking an increase of more than 10% compared with the previous year, which saw 136 openings. This beats the previous openings record of 142 in 2005.

GLA to merge websites to offer one-stop shop for Londoners
The Greater London Authority (GLA) is to merge its web properties London.gov.uk and Your London.gov.uk.  The GLA wants to create a one-stop shop for information about the capital for residents and visitors. The new site is set to be up and running in early 2008, and is intended to be more closely tied with London borough websites.

Think London regularly travel overseas to meet with companies interested in setting up business in London.  Click here to see when we will be visiting your area.

To view a list of other up-coming business events in London, please click here

Connect your business to London

Contact us to find out more about how we can help connect your business to London. 

Think London gives you fast-track access to the information, expertise and contacts you can rely on and our service is confidential and completely free. Download our services brochure here

To help you find the location within London that meets your business objectives we’ve developed ‘Think London 360’ - a unique mapping, modelling and information tool that captures, analyses and displays data geographically.  Find out more here

To read past London Update newsletters please click here

Think London: now with offices in Beijing, New York and San Francisco.

Think London is the official foreign direct investment agency for London. We provide free, confidential and comprehensive advice to help international businesses set up and succeed in London. Think London’s principal funding partners are the London Development Agency (LDA) and London’s business community, through London First.

© 2007 Think London
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