Research Report

Professional maritime services and their role in the UK's financial sector

Posted: 16 Jun 2019

Resource Type: Research Report


The maritime business services sector plays a significant role in the UK’s economy and is a major UK export to international markets. PricewaterhouseCoopers LLP (PwC) was commissioned by the City of London Corporation to conduct this study into the maritime business services industry (specifically the sectors outlined below).

The sectors covered in this study are:
o Accounting
o Consulting
o Education
o Finance
o Insurance
o Law
o Shipbroking

The business services sector was chosen due to its importance to the UK economy and the relative lack of data available on the sector. While the scope of this study covers the whole of the UK, the concentration of these sectors in London means that much of the commentary in this document is focused on London.

The primary focus of the study has been on quantifying the size of the relevant sectors, their contribution to the UK (in terms of Gross Value Added (GVA)) and the trends that have been affecting these sectors. In addition, the study addresses questions regarding the relative position of the UK in comparison to other key international maritime hubs, such as Singapore, Dubai, Hong Kong and Shanghai, as well as highlighting the key opportunities and challenges the UK faces as a centre for maritime business services.

This study has utilised a range of primary financial data, a survey of companies from each of the segments, interviews with senior participants in each sector (both in the UK and internationally) and existing literature. This research presents new data, drawn from survey responses and interview feedback.


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