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England and Wales hailed as the legal centre of the world

Posted on by darion

England and Wales are recognised as the leading legal centres for arbitration and commercial dispute resolution, with English law governing international transactions and contracts worth trillions of pounds.

The findings appear in the International Data Insights Report published today (10 September) by the Law Society of England and Wales.*

The report highlights the widespread use of English law around the world, with the London Commercial Court (LCC) producing more written judgments each year than the main commercial courts in other jurisdictions, including New York and Singapore.

A record 64% of litigants in cases between April 2023 and March 2024 came from non-UK jurisdictions, representing 84 nationalities in total.

More maritime disputes are arbitrated in London than anywhere else in the world, with the majority of them governed by English law.**

In 2023, 83% of arbitration cases conducted by the London Court of International Arbitration were also governed by English law.

The report also reveals that the UK legal sector remains a driving force in the national economy, with exports of UK legal services set to reach £7.25bn in 2022, up more than £1bn since 2018.

Law Society President Nick Emmerson said: “We are proud that England and Wales remains a leading legal jurisdiction and a global legal centre.

“England and Wales continues to expand its global reach, attracting even more people and businesses with no direct links to the UK to use our courts, with English law being the law of choice for contracts in trillions of pounds worth of international transactions.

“As the number of cases heard in the London Commercial Court increases, it is clear that our popular courts reflect the attractiveness of English law. As global demand for UK legal services increases, the legal sector is contributing more to the UK economy.

“It is vital that we recognise the work of the legal profession in driving the UK economy forward and strengthening our international reputation. We must support our justice system and promote our legal profession as an economic powerhouse as we continue to unlock our global potential.”

The report also reveals that:

  • English law governs trillions of pounds a year in international trade and contracts across a wide range of different areas, including over-the-counter (OTC) derivatives trading (£545 trillion), metals trading (£10 trillion), mergers and acquisitions (£250 billion) and insurance contracts (£80 billion in London alone).
  • Over the five years, UK legal services exports have increased by £1.18 billion, from £6.07 billion in 2018 to £7.25 billion in 2022.
  • The size and income of the UK legal profession are growing year on year. In July 2022, there were 216,173 lawyers from England and Wales on the rolls, an increase of 3.3% compared to July 2021.
  • Over the three years, the combined revenue of the UK’s ten largest companies increased by £2.73 billion, from £15.61 billion (2020-2021) to £18.34 billion (2022-2023)
  • During the four assessment windows between January and October 2023, 8,262 candidates sat at least one part of the Solicitors Qualifying Examination (SQE1 and/or SQE2). This data shows that there is strong and ongoing demand for solicitor qualifications in England and Wales

Notes for editors

*Read our International Data Insights Report, Issue 2, 2024

**The London Maritime Arbitrators Association is estimated to have recorded 1,845 new cases in 2023 compared to 1,807 in 2022.

About the Bar Association

The Law Society is an independent professional organisation that works worldwide to support and represent lawyers, promoting the highest professional standards, the public interest and the rule of law.

Press Office Contact: Shanzeh Haque | 07706 989843