Our annual 'Enabling growth across the UK 2023: UK-based financial and related professional services' report provides detailed data on the local, regional, and national employment and economic contribution of the financial and related professional services industry. It also makes clear its important enabling role across the wider economy.
This year's report sets out both policy recommendations for national and regional administrations, focusing on devolution, people, infrastructure and international investment for a robust future, and a study of the triggers that prompt firms to make regional investments.
The report reveals that in 2021 (latest data available) nearly 2.5 million people worked in financial and related professional services across the UK, representing 7.6% of the working population, or approximately one in every 13 jobs. This is roughly equivalent to the entire populations of Birmingham, Glasgow, Edinburgh, and Cardiff combined.
It also shows how around two thirds of people in employment in the industry work outside London. Major UK centres with more than 30,000 in employment in financial and related professional services include Birmingham, Manchester, Edinburgh, Bristol, Glasgow, and Leeds. Overall, 23 towns and cities in the UK each have more than 10,000 people in employment in the industry.