Borough economic profile
Kensington and Chelsea is one of London's wealthiest boroughs
and the country's most populous local authority, with more than
13,000 people per square kilometre occupying some of the most
valuable real estate in the world. Its proximity to the City of
London and central location attracts a number of corporate head
offices, drawn also by the much valued vibrant and attractive
environment.
While the majority of the borough is well developed, there are a
small number of sites which could provide development opportunities
and a further boost to economic prosperity. Similarly, improvements
to London’s transport infrastructure, which may include a Cross
Rail station and a new over-ground station on the West London Line,
could provide opportunities for business growth and new
enterprise.
In all there are approximately 17,000 businesses in the Royal
Borough, who benefit from being in the midst of the most highly
qualified population anywhere in the country and by the ability to
attract a workforce from across London and the wider South East.
Approximately 120,000 people are employed across all business types
but Wholesale and Retail, Hospitality, Real Estate, Business
Services, Medical, and Personal Services are the most significant
employment sectors.
Visitors are a significant driver of the local economy, with
over £3 billion coming into the borough from non-resident spend.
The Royal Borough is home to London's 'Museum Quarter'. The Natural
History, Science and Victoria and Albert Museums can all be found
in South Kensington, while Kensington Palace and many other hidden
cultural gems can be found further north. Annual showpieces, such
as the Chelsea Flower Show, the Notting Hill Carnival and the open
air Opera in Holland Park reflect the variety of the borough's
social calendar.
Nearly half of all visitor spend is in shops. It's no wonder, as
the Royal Borough is home to some of the world’s most renowned and
exclusive shopping districts, with the iconic Portobello Road in
the North, to Knightsbridge and the King’s Road in the south. Aside
from the large shopping attractions there are a plethora of
boutiques and unique small merchants, adding to the character and
village-like feel of many parts of the borough.
Useful documents
Further information about the economic conditions and
development opportunities can be found in the documents below. Our
Economic Development Team are also on hand to discuss opportunities
and help new and existing businesses, where possible.