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LONDON ECONOMY The city is a global leader and is one of the world’s leading financial centres for international business, renowned for its services industry, specifically financial services. London’s economy is worth around £487 billion, approximately 25% of the annual Gross Value Added (GVA) of the whole of the UK. London is expected to grow strongly in economic terms with 6.2% growth forecast for 2021 and 6.9% in 2022. London was ranked the world’s most magnetic city for the 9th year in a row by the World Economic Forum in 2020, despite the COVID pandemic and Brexit. The rating is based upon its ability to attract people, capital and global businesses. The city increased its score in 2020, pulling away from New York, which is in second place.
