FTI Consulting Public Affairs Snapshot – London 2021: What’s next for the UK’s capital city?
Download a PDF of this articleThe COVID-19 pandemic has hit Central London hard. As we begin a new year, under a third national lockdown, the huge economic impact of the pandemic is clearer than ever. Whilst the remarkable resilience of the financial and professional services sectors has been clear to see throughout the crisis, other segments of our capital’s economy are struggling to function. Central London faces both new challenges arising from the crisis, and existing challenges that have been intensified as a result.
Central London is diverse and adaptable, but the longer people are required to stay away, the greater the risk that damage will become permanent. This could in turn threaten the capital’s pre-eminence as a global centre for business, culture and tourism. Long-term damage to London’s global competitiveness will not just be felt in the capital but will impact the whole of the United Kingdom.
With a Brexit deal in place and the vaccine rollout now well underway, London has begun the New Year in a better place than it might have done. Though a grim event which no one wished to see happen, COVID-19 presents an opportunity for London to proactively shape its future.
