London is at the heart of Britain's economy. More than one-third of Britain's population and economic activity is concentrated in southeastern England, in and around London. The annual size of London's economy, estimated in 1997 to be about $122 billion, is comparable to the economies of industrialized nations. More than a hundred of the world's major companies have their headquarters in London.
What Londoners do for a living has changed considerably since the city was a commercial and industrial center in the 19th century. Manufacturing has steadily declined and today accounts for only 10 percent of total employment. The printing and publishing industry is now a leading employer. Also important are electrical and electronic engineering; food, drink, and tobacco; and chemicals and synthetic fibers.
