One of the world’s oldest cities in the world is in the middle of a sudden growth spurt after years of decline. London is about to hit a population peak not seen since World War II that could usher in a period of economic growth. CCTV’s Richard Bestic reported this story from London.
London's population set to surpass 1939 peak of more than 8.5 millionOne of the world's oldest cities in the world is in the middle of a sudden growth spurt after years of decline. London is about to hit a population peak not seen since World War II that could usher in a period of economic growth. CCTV's Richard Bestic reported this story from London.
Somewhere in London, a baby being born will allow the city to surpass its 1939 population peak of just over 8.5 million.
From now on, according to City Hall statisticians, every new baby in London will be a record breaker.
“London is growing extremely quickly, at the rate of a London borough every three years. Over 100,000 every year for three years, you get a new London borough,” Stephen Greenhalgh, London deputy mayor, said.
The reasons for the boom are mulifacted. Employment in the city’s financial center and service industries have triggered mass immigration from overseas and migration within the U.K. More Londoners are being born, and they’re living a lot longer.
Global business leaders view this as good news, pointing to a growing London economy as well as a rising population.
“Ultimately, it is good for the London economy. London is attracting this talent it continues to flow into our capital. Because there is the talent, businesses are either relocating here, starting up here or expanding here,” Nick Cook from Avison Young International Real Estate said.
Up until the 1980s, London’s population declined reaching a low of 6.5 million. Now the U.K. capital effectively exists as a city-state outside the wider British economy.