largest city economy, it generated $365 billion in 2004 (17% of the
Domestic Product) although this only refers to the city proper. The economic
impact of the entire
far higher, year-on-year accounting for approximately 30% of the
GDP or $642 billion (estimate) in 2004.
finance, and its financial exports make it a large contributor to the
payments. The City is the largest financial centre in
legal and accounting firms. A second, smaller financial district is developing
global headquarters of HSBC, Reuters, Barclays and the largest law firm in the
world, Clifford Chance. 35% of global currency transactions occurred in
billion), with more US dollars traded in
than every city in
over 100 of Europe's 500 largest companies are headquartered in central
FTSE 100 are located within
metropolitan area. Media and professional services are important sectors.
London, the BBC's local television news service on national channel BBC One
of the British media is concentrated in
(see Media in
The BBC is a key employer, and many other broadcasters also have headquarters
around the city. Many national newspapers are edited in
having traditionally been associated with Fleet Street in the City, but they
are now primarily based around
post-production industry in
strong, as is publishing.
is one of
employed the equivalent of 350,000 full-time workers in
in 2003, whilst annual expenditure by tourists is around £15bn.
popular city destination for tourists, attracting 27m overnight-stay visitors
once being the largest port in the world, the
third-largest in the
Kingdom, handling 50 million tonnes of cargo
each year. The main docks are now at Tilbury, which is outside the boundary of