It looks like we are bunch of hard workers here in Nappy Valley!
Wandsworth has been crowned the most productive local area in the UK as London boroughs dominate the top 10, new figures have revealed.
The Cisco Productivity Index showed the south London borough had a productivity level 65% higher than its industrial benchmark. Camden and Hammersmith & Fulham took second and third place respectively, while the City came in at number nine.
The study, which was published with Oxford Economics, examined contributing factors such as transport, employment, technology capital and academic qualifications, while removing the effect of local industries on a region’s performance.
Rank Local Area Index Rating
1 Wandsworth 165
2 Camden 157
3 Slough 154
4 Hammersmith & Fulham 149
5 Kensington & Chelsea 142
6 Tower Hamlets 141
7 Richmond upon Thames 141
8 Hillingdon 139
9 City of London 138
10 Havering 136
While London outperformed the rest of the country, the findings showed the UK could add £140bn to the economy if all local areas achieved their benchmark productivity level, which is the theoretical level achieved if all industries in an area hit the UK average for productivity.
“Technology has the potential to have the same multiplying effect in regions as it does in industry; it is the greatest lever we have to grow productivity, whether in the way it improves the efficacy of an organisation or the employability of individuals,” said Scot Gardner, chief executive of Cisco UK and Ireland.
“This index shows that there is a huge opportunity for the UK, if we collectively address local productivity levels.”
Only two London boroughs - Greenwich and Hackney - did not hit their benchmark productivity level. However, both local areas scored above the national average.
Sam Moore, managing director at Oxford Economics, said the figures show productivity is a “black spot” for the UK, which has experienced sluggish growth in this area since 2008.
Figures released last month by the Office for National Statistics (ONS) showed labour productivity grew just 0.5 per cent in 2018, well below the average annual growth rate of two per cent seen before the financial crisis.
To see the full report visit: https://www.cisco.com/c/m/en_uk/product ... -4-Pillars
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