This article was originally published in the Brand Finance Global City Index 2024.
Managing Director,
Marketing, Destination
and Commercial,
London & Partners
London will soon launch a new strategy putting place at the heart of the city's economic agenda. How can cities leverage place brand perceptions to drive growth?
We are indeed soon launching London’s Growth Plan for 2035, which sets out how we will grow the capital’s economy to improve the lives of all Londoners, drive London’s green transition, and support prosperity in London and across the UK. The importance of place runs through the plan, particularly the importance of enhancing London’s brand perception as a polycentric city, with growth opportunities beyond central London.
One of the key drivers for London’s economy is creating and promoting places for growth: for Londoners, visitors, businesses, and local communities. As part of the 2035 Growth Plan, we are enhancing London’s place brand perceptions, from capitalising on our established strengths on education, culture, talent, and innovation to building more robustness in housing, affordability, and accessibility perceptions. The strength of London’s brand in these areas is the necessary backdrop that creates the platform for economic growth and competitiveness.
Yet we recognise growth priorities are set locally and are place-specific, so we are working with local councils to develop individual plans to create, develop, and maximise relevant narratives for their place, in support of those local priorities and for the benefit of London’s brand as a whole.
Before focusing on outward place promotion, cities are being reminded by the necessity to prioritise dialogue with residents. How is London tackling the challenge of liveability whilst remaining attractive to global investors, talent, and travellers?
Londoners and their local businesses and communities are all at the heart of the 2035 Growth Plan. To foster growth we need to ensure Londoners remain a priority and feel content within the places they live and work.
It’s not an either/or choice. Maintaining London’s ‘liveability’ is important not only for our residents but for attracting top talent and ensuring visitors also have a positive and welcoming experience when spending time in our city.
We continue to build on London’s liveability with exciting new developments and places that take this holistic view - from the Camden Highline, which will take over a disused train track in 2027, to the East Bank development in Stratford which will be home to a new V&A Museum, the 'V&A East Storehouse', BBC Music Studios, and new university campuses.
With more opportunities open to investors, talent, and travellers, competition between cities is stronger than ever. How is London planning on maintaining competitive edge against fast-growing powerhouses like Dubai and Singapore?
As part of the Growth Plan and the work we do at London & Partners promoting our city, we continue to focus on where London’s strengths lie – from its diverse culture, people and heritage; to international tech investment; to our world-leading universities and colleges. In addition to this, the plan focuses on enhancing areas in which we see potential for new growth, including sectors ranging from life sciences, AI, net zero, and robotics.
As well as placemaking, we are committed to attracting inclusive talent to grow London’s workforce; backing entrepreneurs with investment and support; building housing and infrastructure; and generating inward investment to ensure London remains a leading choice for investors, talent, and visitors. W
e continue to tell London’s story and its strengths: most recently, the capital city has been ranked as one of the best cities for life sciencesi and AIii, as well as green spacesiii and cultureiv.
Source:
i. London #1 in Europe for Life Sciences
ii. London Leading Global City for AI Businesses to Grow
iii. London named the greenest city in Europe - here's the rest of the top 10
iv. London has been Named the Top City for Culture in the World
