UK: London overtakes New York to be named world's finance capital

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“London’s reputation as an economic powerhouse won’t be much of a surprise, although it is always good to steal the crown from our New York rivals."

Ahmadiyya Times | News Watch | UK Desk
Source/Credit: London Evening Standard
By Kiran Randhawa | May 19, 2014

London has been named the world capital for business, finance and  culture, beating New York, Singapore and Beijing.

In a study of the 30 most influential cities, the UK capital was ranked first overall and also for economic clout, technology readiness and as a city gateway, meaning it is an excellent transport hub and tourist destination.

Leading accountancy firm PwC’s Cities of Opportunity Index found London is “technologically on top of its game”, jumping from eighth place in last year’s report to joint first with Seoul for technology readiness this year. The report is based on 59 indicators rating factors such as health, education, ease of doing business and cost of living.

PwC partner David Snell, author of the report, said: “London’s reputation as an economic powerhouse won’t be much of a surprise, although it is always good to steal the crown from our New York rivals.

“What’s new is London’s rise to ‘the top of its game technologically’. We hear headlines about technology and schools in Asia, and tech hubs in San Francisco, but London now ties with Seoul as the city with the strongest software design and development capability. It also performs highly on internet access in schools, and broadband infrastructure.”

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http://www.standard.co.uk/news/london/london-overtakes-new-york-to-be-named-worlds-finance-capital-9394994.html

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