TheCityUK has published its 2023 report on the contribution made to the British economy by legal services, including dispute resolution for international parties. The report states, ‘London is the most popular, and widely used, seat for international commercial arbitration by a wide margin. More of these take place in London than in any other city in the world. As an example, it is estimated that more than 80% of the world’s maritime arbitrations are handled in London.’
As in previous years, the LMAA features prominently in the table of UK providers’ caseload statistics for arbitration, adjudication and mediation. This year again, TheCityUK has included international comparisons, referring to analysis compiled by LexisNexis UK, which compares the caseloads of six major international arbitral bodies. The LMAA continues to outperform its counterparts by a significant margin. As the report says, ‘in 2022, the LMAA had 1,807 new cases in representing 48.9% of the total new international arbitration cases that year.’
The report can be accessed HERE
Previous reports can be accessed by clicking the below links: