Thought for London - February 2009
London key sectors holding firm
London has always boasted sector diversity, and this remains the case even during the economic
downturn. While the downturn’s effect on financial services has been noticeable, three key sectors
have great chances to stand out in the near to mid-term future.
These are:
- digital communications
- life sciences and healthcare
- environmental technologies.
Digital Communications
Spanning from mobile phones to broadband internet to social networking, digital
communications is increasingly turning into a commodity. Irrespective of the economic
circumstances, individuals and businesses are getting much more reluctant to cut back on
communications.
Being well connected is a must. The Olympic and Paralympic Games in 2012 in London have recognised this and aims to become the first digital Games in history. This is generating a host of digital media related contracts. Suppliers are being sought across 30 product streams including: information architecture, front end design, translation services, mapping, e commerce and much more. We recently held a high-level business seminar in New York focusing on digital media in London. Listen to interviews, read our report on digital media in London and find out more here.
Life sciences and Healthcare
The life sciences and healthcare sector is set to benefit from commercial
opportunities arising from the National Health Service’s (NHS) strategic reform. There are
opportunities here for consultants from other markets to advise on improving a number of important
health indicators.
The NHS is actively seeking commercial companies to work on and advise on a number of new developments, for example, ‘polyclinics’.
As to the NHS’ drug procurement process, there are opportunities around drug innovation and providing economy savings. The NHS is looking for processes, drugs and consultancy from overseas markets with a differing range of experience to help in their planning.
Environmental technologies
Companies in the
environmental technology arena will be glad to hear that the Mayor of London’s vision is to develop
London as an exemplary, sustainable world city with high targets for renewable energy,
decentralised power generation, and combined heat and power.
The Mayor's Energy Strategy sets out proposals for change in the way energy is supplied and used within London until 2010 and beyond, against a long-term vision of a sustainable energy system in London. The Mayor also wants to make London the electric capital of Europe by encouraging the use of electric cars and has been talking to manufacturers about the possibility about switching to, or indeed creating, electric vehicles in London.
He wants to see at least half the 8,000 vehicle fleet owned by the Greater London Authority replaced by electric vehicles as soon as possible. This is a major opportunity for both manufacturers and distributors of electric vehicles, and for companies running electric car hire schemes.
London Now
What is crucial in the current market environment is that London remains open for
businesses from all over the world.
At Think London we aim to be the first point of call for overseas companies seeking growth and opportunities and in looking to expand their operations to London. We want to help your business succeed, so contact us now to find out how we can assist your business.
Michael Charlton
Chief Executive, Think London
