Monday, December 23, 2019

Economics Explained - The Economy of The United Kingdom

This video talks about the City of London in glowing terms, but... Well, that's for another video.

The economy of the united kingdom is really a tale of two cities, it was the best of times and it was the worst of times, it is an economy with the highest levels of foreign investment per capita in the world and it is an economy with a major poverty crisis. It is an economy that is home to the second largest financial centre in the world and yet its entire economy is smaller than that of California.

It’s this one that I really want to focus on though, the united kingdom as a country is heavily dependent on its financial services industry to a level that brings it in line with nations like Singapore and hong kong which in and of themselves are basically just giant cities full of banks. 

This for the most part sounds brilliant, a strong financial services sector is hugely beneficial to a national economy. It creates thousands of extremely high paying jobs and can attract profits from all over the world to be introduced to the local economy and the United Kingdom is a great example of this.

London is home to the offices of over 500 banks from small banks with local operations in the country to major international banks like HSBC
In this video we will explore why these financial institutions decide to call London home. 

No comments: