London

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Economy and Tourism

London is the UK's main economic and financial centre. It is the centre of trade and banking.

Factories around the city produce all kinds of consumer goods- from clothes and electronic products to food and chemicals.

Trading companies were founded along the Thames river at a time when Great Britain was still the biggest colonial power in the world. Docks and wharfs in eastern London became the centre of world trade. New container terminals were built in the 60s, in order to handle the larger cargo ships that come to London.

London is Europe's most important banking and financial centre. Almost all of the world's large banks have regional headquarters in London. The Bank of England, located in the City of London, controls the country's money supply and is responsible for the value of the British pound sterling.

Tourism is an important economic factor for the city. Every year millions of people from all over the world come to London to see the city's well-known sights. Pupils and students from all over the world come here to learn English or to take language courses. Over 200 000 Londoners work in tourist-related industries.