Why was London named the world’s most influential city?

London has been named as the most influential city in the world by Forbes – but how did we get the title?

We narrowly beat New York to the title, which was based on eight factors, including the number of corporate headquarters, the level of foreign investment, how many business types it dominates, how easy it is to travel to other global cities, the strength of financial services, technology and media power and racial diversity.

London ranked first in the world as a financial centre and was Europe’s top technology centre, according to the researchers.

“A preferred domicile for the global rich, London is not only the historic capital of the English language, which contributes to its status as a powerful media hub and major advertising center, but it’s also the birthplace of the cultural, legal and business practices that define global capitalism,” the report said.

However, despite London hitting the top spot, Forbes had some harsh words to say about the UK. The report said the country’s influence was partly due to it having always been an influential country. It said:

“Inertia and smart use of it is a key theme that emerged in our evaluation of the top global cities. No city better exemplifies this than London, which after more than a century of imperial decline still ranks No. 1 in our survey.

“The United Kingdom may now be a second-rate power, but the City’s unparalleled legacy as a global financial capital still underpins its pre-eminence.”

Imperial decline? Second-rate? We dread to think what Forbes said about the cities which didn’t even make the list.

What do you think? Tell us in the comments below.

 

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