3 weeks ago
London Could Lose 90,000 White-Collar Jobs by 2031
Some people who work in banks, law offices and accounting firms may move from London to other cities in the UK.
A company that helps people find jobs thinks up to 90,000 of these workers could move by the year 2031.
That sounds like a lot, but it is only a small part of everyone who works in London.
These workers could make other cities stronger by bringing new jobs and spending money there.
The cities expected to gain the most are Manchester, Birmingham and Leeds.
Companies might move because London is very expensive and there are not enough offices.
Many people now work from home part of the time, which makes it easier to have teams in different places.
The bosses will probably stay in London while other workers spread out.
This change would happen slowly, not all at once.
If it happens, cities outside London could become richer and busier.
Recruitment firm Robert Walters forecasts that up to 90,000 bankers, lawyers and accountants could leave London by 2031, still only 2.5% of the capital's workforce.
The shift could add £9 billion to regional economies, rising to £15 billion once wider spending effects across local supply chains are included.
Manchester, Birmingham and Leeds are expected to attract the largest share of the relocated jobs.
Around 12,000 roles are projected to move by the end of 2027, rising to 45,000 by 2029.
High operating costs, record London office rents, hybrid working and government devolution plans are driving the forecast, which points to gradual change rather than a mass exodus.
- Who
- White-collar professionals such as bankers, lawyers and accountants in London; the forecast was made by recruitment firm Robert Walters.
- What
- Up to 90,000 white-collar jobs could relocate from London to regional UK cities by 2031.
- Where
- From London to Manchester, Birmingham, Leeds and other UK cities including Liverpool, Bristol, Edinburgh, Glasgow, Cambridge, Newcastle, Reading and Cardiff.
- When
- By 2031, with around 12,000 roles moving by the end of 2027 and 45,000 by 2029.
- Why
- High operating costs and record office rents in London, hybrid working, cheaper offices and skilled workers in the regions, and government devolution plans to spread economic activity.
Key facts
- Forecast by
- Robert Walters (recruitment company)
- Jobs expected to leave London by 2031
- Up to 90,000
- Share of London's workforce
- 2.5%
- Estimated boost to regional economies
- £9 billion (up to £15 billion with wider spending effects)
- Projected relocations
- 12,000 by end of 2027; 45,000 by 2029
- Northwest England forecast gain
- 22,500 jobs, up to £2.25 billion
- Midlands forecast gain
- 18,000 jobs, about £1.8 billion
- Yorkshire forecast gain
- 13,500 jobs, about £1.35 billion
Quotes
Daniel Harris
Managing director, UK, Robert Walters recruitment firm
“The movement could accelerate as businesses continue to face high costs and hybrid working allows them to create more geographically dispersed teams.”
easterneye.biz
“The benefits could spread through local economies as professionals move into regional cities and increase demand for businesses supporting them.”
easterneye.biz











