The number of jobs in Richmond upon Thames has grown faster over the last forty years than almost any other London borough according to the latest Greater London Authority (GLA) report.
A working paper published recently published by the GLA shows the number of jobs in the borough has grown by more than 50 per cent in the period 1971 to 2015. Growth in Richmond is second only to Tower Hamlets, where Canary Wharf is located, and is almost unique in having consistent and increasing job growth across the last four decades.
The borough’s result has been driven by strong performances from the ICT, Entertainment and Real Estate sectors. Jobs in the ICT sector grew 3.5 per cent in this period, the fourth best growth in London. As the borough pushes to become a UK digital leader, major tech firms such as PayPal and Ebay have chosen to establish bases in Richmond.
Meanwhile, the number of jobs created in the Arts, Entertainment and Recreation experienced growth of 5.5 per cent – the highest in London. The borough’s well-known attractions including Kew Gardens and Hampton Court continue to attract visitors in big numbers and there has also been strong growth from smaller venues like Barnes’ Olympic Studios, an independent leisure venue.
Finally, the number of people working in the professional and real estate sector also saw the third fastest growth in London as more people in professional, technical and scientific industries made the borough the work base.
Cllr Pamela Fleming, Deputy Leader and Cabinet Member for Business said:
“These striking figures show how Richmond’s business sector punches above its weight when it comes to contributing to London’s economy. The findings reinforce how consistently well our economy has performed over a number of years and shows promise for sustainable growth moving forward.
“The Council is committed to providing the best environment for growing a business where our successful digital and tech sector can continue to grow and our already strong tourism sector thrives.
“We are ambitious for the borough’s business sector and are committed to supporting it through our business support programme which offers a variety of workshops and events to help nurture and grow start-ups and young businesses across Richmond upon Thames.”