England and Wales hailed as legal centre of the world

England and Wales are hailed as the leading legal centre for arbitration and commercial dispute resolution, while English law governs trillions of pounds worth of international transactions and deals.

These findings come as the Law Society of England and Wales publishes its International Data Insights Report today (10 September).*

The report highlights the widespread use of English law globally, as the London Commercial Court (LCC) delivers more written judgments annually than major 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 jurisdictions outside the UK, representing a total of 84 nationalities.

More maritime disputes are referred to arbitration in London than anywhere else in the world, with the majority being governed by English law.**

83% of arbitration cases administered by the London Court of International Arbitration were also governed by English law in 2023.

The report also reveals that the UK’s legal sector remains a powerhouse to the national economy. Exports of UK legal services reached £7.25bn in 2022, an increase of more than £1bn since 2018.

Law Society president Nick Emmerson said: “We are proud to see that England and Wales have remained a leading legal jurisdiction and global legal centre.

"England and Wales continue to extend their global reach, attracting even more individuals and businesses with no direct ties to the UK to use our courts, while English law is chosen for contracts in international transactions worth trillions of pounds.

"As the number of cases heard at the London Commercial Court surges, it is evident that our popular courts reflect the attractiveness of English law. As the global demand for UK legal services continues to rise, the legal sector contributes ever more significantly to the UK economy.

"It is critical we recognise the work of the legal profession in powering the UK economy and bolstering our international reputation. We must support our justice system and promote our legal profession as an economic powerhouse, as we continue to unleash our global potential."

The report also reveals that:

• English law governs trillions of pounds annually in international commercial transactions and contracts across a wide range of different areas, including over the counter (OTC) derivatives trade (£545tn), metals trade (£10tn), mergers and acquisitions (£250bn) and insurance contracts (£80bn in London alone)
• over the course of five years, exports of UK legal services increased by £1.18bn, from £6.07bn in 2018 to £7.25bn in 2022
• the size and revenue of the UK’s legal profession continues to grow year-on-year. As of July 2022, there were 216,173 solicitors of England and Wales on the roll, representing a 3.3% rise compared to July 2021
• over the course of three years, the combined revenue of the top ten largest UK firms increased by £2.73bn, rising from £15.61bn (2020-21) to £18.34bn (2022-2023)
• over the course of 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 demonstrates that there is a strong and consistent demand to qualify as a solicitor in England and Wales

Notes to editors

*Read our International Data Insights Report 2nd edition 2024

**The London Maritime Arbitrators Association saw an estimated 1,845 new cases in 2023, compared to 1,807 in 2022.

About the Law Society

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Press office contact: Shanzeh Haque | 07706 989843