Domestic promotion
Across the UK, there are over one million people employed in financial services, and a further 967,000 employed in related professional services. Despite the widely held perception that the industry is predominantly London-based, more than two thirds of employees work outside London.
As our UK financial services map shows, there are significant financial service centres in all regions of the country. Together, they contribute enormously to both the industry's workforce and the diversity of services available in the UK.
Many of these services - ATMs, bank accounts and mortgage lending for example - are vital to day-to-day life. Others support our nation's businesses as they market products and services across the globe and maintain a competitive advantage.
Our Domestic Promotion Committee (DPC) is working to build a better understanding of the importance of the UK financial services industry. The DPC works closely with our Overseas Promotion Committee (OPC) and International Regulatory Strategy Group (IRSG) to maximise opportunities for UK firms overseas and shape the regulatory regime.
Understanding financial services
We believe there to be a strong link between the level of domestic support enjoyed by the UK financial services industry and the country's ability to remain the world's leading international financial centre. So, working with our members, we are committed to:
- Explaining the case for, and providing the evidence of, the value of financial services to the UK economy and job creation
- Demonstrating to the public, politicians and the media that financial services are integral to the wider economy - and not separate from it.
The new relationship starts here
In a recent YouGov research study that we commissioned, 70% of those working in financial services believe that people outside the industry do not fully understand its importance. Even so, 84% of the general public agree that a successful financial services sector is important to the UK economy.
A similar majority of these respondents felt that the industry could improve its image by explaining the role it plays in the wider UK economy more effectively.
To do this, we aim to build a better understanding of the financial sector as a whole, by explaining what it is, what it does, and how it contributes to our society. We achieve this by carrying out promotional campaigns, events and research studies across the UK. Their aim is to build and evaluate the perception of - and support for - the financial services industry among business leaders, SMEs, politicians, the media and the general public.
