East London: Benefiting from considerable investment, East London offers quality office space, good access to markets in Europe and the UK and a large, culturally diverse local workforce, a quarter of which having a degree or other higher qualification. In excess of half a million people are employed in the area and a further 160,000 new jobs are expected to be created in the Docklands boroughs by 2010. The completion of the Canary Wharf complex is expected to more than double the amount of people that currently work there to about 100,000, while the proposed Thames Gateway river crossings are expected to create at least 55,000 sustainable jobs. The most significant sectors in the East London economy are financial and business services, which together are responsible for one fifth of all jobs. Manufacturing, research, leisure and tourism, distribution and logistics are also important to the region. Much of East London is undergoing substantial development.
Docklands is one of London's primary business districts and has attracted investment from numerous large companies. Multinationals such as Citibank, HSBC, Credit Suisse, First Boston and Morgan Stanley all have their headquarters there and it is also home to the UK's newspaper industry. Just South of Canary Wharf, within the Borough of Tower Hamlets, the World Trade Centre London is being developed to offer new office space, a four star hotel with conference and leisure facilities, new apartments and retail and catering outlets. On the other side of the river, at the 76 acre site of the Royal Arsenal Woolwich, investment is underway to provide leisure facilities, 550 homes and commercial property for light industry.
During the last decade, Docklands and East London has also benefited from substantial investment in transport. The development of the Docklands Light Railway and the Jubilee Line Extension, have brought 3 million workers within one hours travel of Canary Wharf. Other major projects that have taken place include the Limehouse Link, a new dual carriageway tunnel under the Limehouse Basin providing a connection via The Highway to Central London, and the A13 and M11 links. London City Airport, situated just 3 miles from Canary Wharf, was opened in 1987 and is now the UK's sixth largest intentional airport offering flights to approximately 30 destinations in Europe and the UK. Work to extend the Docklands Light Railway to the airport is expected to be completed by 2005 and will include four new stations in the East London area.
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