London takes over New York’s to be crown the world’s ‘most influential’ city by international commercial estate agent, Colliers International despite projections that its status would be damaged by the Brexit vote.
Alongside Paris, London is the most attractive for businesses where looking at talent, cost and location which are all considered impressive as well as media and advertisement are considered very powerful.
The city was complimented on its stable travel system, past history and relaxed labour laws. London also holds the position of Europe’s top technology startup centre with 3,000 tech startup firms as well as Google’s largest office outside of Silicon Valley.
However, many are concerned that the fallout from Brexit will damage London’s business trajectory.
“The outcome of the EU referendum made many nervous that we would see a mass exodus of businesses relocating from London. Indeed, some sceptics predicted 100,000 finance and business services jobs would be likely to flee to the continent,”said Managing Director of Colliers International, Guy Douetil. “No single city in Europe has the capacity to absorb 100,000 jobs at short notice.”