Legal services sector revenue hit a record £52.3bn in 2024

TOTAL revenue from legal activities in the UK reached a record £52.3 billion in 2024, up 11% from 2023, according to a new report by TheCityUK, published in partnership with Barclays.

- MARIA WARD-BRENNAN

The City of London, home to some of the biggest legal sector companies in the world

(Leon Neal)

The UK boasts the world’s second-largest legal services market, trailing only the US, thanks to the dominance of English common law.

Overall, the legal services sector contributed £38bn to the UK economy in 2024, an increase of 3% year-on-year and around 1.6% of the country’s total GDP.

The City of London hosts over 200 foreign law firms from some 40 jurisdictions, including offices for all of the world’s top 50 law firms.