East London named capital’s fastest-growing area
East London is the fastest-growing area of the capital, with 110,000 new jobs created since the 2012 Olympic Games.
The number of jobs created in the six Olympic host boroughs grew at three times the pace forecast in 2013, according to a report by Oxford Economics, a consultancy.
And East London’s economic boom is set to continue, with an additional 125,000 jobs expected by 2030 across Barking & Dagenham, Greenwich, Hackney, Newham, Tower Hamlets and Waltham Forest.
Most of the new jobs are expected to be in the key industries of science and technology.
“The legacy of the 2012 Olympics is not just about the Queen Elizabeth Olympic Park. It is about delivering regeneration for an area of London that we want to last for decades to come,” Mayor Sadiq Khan said Monday.
“Businesses, universities and cultural institutions are flocking here and the centre of gravity in London is moving East,” he said.
Part of the legacy of the Olympic and Paralympic Games – led by the London Legacy Development Corporation - has also been to establish a thriving cultural and educational district in East London.
Plans are underway to bring The Victoria and Albert Museum, the Smithsonian museum and Sadler’s Wells theatre to the area, as well as a London College of Fashion campus.