The architectural sector in London adds great value to the economy

A recent report from the Greater London Authority shows just how much architecture adds to the economy in the capital. In 2015 the sector produced an impressive £1.7 billion in gross value added (GVA). This measures how much value the goods and services add. The number far exceeded the values of many other industries including product, graphic, and fashion design. The figure for the year itself is fantastic and also showcases that the sector continues to grow. Between 2009 and 2015 the GVA rose by a fantastic 7.6%. This exceeded the growth for the London economy as a whole (3%) and the creative industries (3.9%).The UK has grown into a net exporter of architectural services, providing talented, creative, highly qualified architects for projects all over the world. In 2015 the income from exported architectural services exceeded imports by a huge £437 million. This shows that architect firms from the UK provide more work around the world than overseas based companies take on in the UK.London is considered to be one of the best places in the world to practice architecture. The city was home to an incredible 4,240 workplaces in 2016 and was responsible for 22,800 jobs in 2015. In addition the city is also highly regarded as a great place to study, offering courses at reputable universities and many other training opportunities.At Coffey Architects we are very proud to be based in London and stand alongside the thousands of other firms that work here. This creates a really creative environment that pushes design forward whilst encouraging both innovation and excellence. Competition that encourages this is always welcome because it benefits the whole sector.When we take on projects, whether it is regarding residential architecture in London, commercial premises, or public buildings, we always look to deliver the best value. We are proud that our work can contribute to the incredible performance of the sector as a whole.If you would like to discuss a project or want to know how we can add so much value please get in touch with our team.