Apparently we should all be drinking Flat White instead of Latte – actually, Rob, our Technical Director does, but he’s always been a trend setter or so he tells us!
The “flat white” economy is the new name for the digital, advertising, media and entertainment sector in which we exist and where lots of flat white coffee is drunk by the trend setters. This sector will restore London’s status as Britain’s fastest growing region by 2016, according to forecasters the Centre for Economics and Business Research (CEBR).
The “flat white” economy encompasses a range of growing sectors from the digital entrepreneurs of Old Street’s Silicon Roundabout to the independent TV production houses of Hackney. The CEBR says that the inner east London economic zone will see a 31 per cent increase in employment by 2031 compared with just nine per cent in inner west London.
Charles Davis, head of macroeconomics at the CEBR, said: “London is evolving and adapting to life post-financial crisis”.
“While in the short term there has been no shortage of pain with job losses across the City and economic output was broadly flat in 2012, we think there are positive signs that the capital is adjusting and new sectors are taking prominence in different parts of London away from the City and the West End”
The relative decline of the City was underlined by further research from the CEBR, which showed that London will lose its status as the world’s number one international financial centre — in employment terms — to Hong Kong by 2015.