February 8, 2024
5 reasons to invest in London
London is one of the world’s major “global cities” and a significant international financial centre, frequently topping the list for being the “best place to buy property”. Here is a list of claims London can boast of.

1. London is the top “global superstar hub”

A November 2023 report by Harvard Business Review ranked London as the world’s Number One “global superstar hub” or “meta city” in terms of attracting global talent and being the choice location for business, ahead of New York City and in a superior category above “global talent hubs” like Dubai, Bengaluru (India); Dublin, Paris and Singapore.

Despite the Covid pandemic enabling talent and industry to disperse to satellite centres, London has seen an entrenchment of its role as an economic hub.

2. London is the world’s most “AI-driven” city

London is leading the way as the world’s most AI-driven city, based on all metrics analysed, with 9 AI initiatives and 2,645 AI events for those looking to learn more about the technology, according to a recent report by Business Name Generator which researched 50 cities around the world regarding AI development and implementation.

New York City comes in second, with 6 AI initiatives and 1,082 events.

Singapore is third in the ranking with 5 AI initiatives and 714 events.

London also tops the ranking in terms of offering the best AI education opportunities for students.

3. London is a global hub for biomedical engineering

London’s status as a global hub for biomedical engineering has been given a boost with the opening of The Sir Michael Uren Hub at Imperial College London’s White City Campus – one of the world’s most significant centres for biomedical engineering.

A multidisciplinary collaborative facility, the 13-storey building housing state-of-the-art laboratory and office spaces will bring together over 500 engineers, clinicians and scientists to develop new medical solutions to some of the world’s most pressing biomedical and healthcare problems.

Meanwhile, the Future Vaccines Manufacturing Hub, led by Oxford and University College London aims to make the UK the global centre for vaccine discovery, development, and manufacturing.

London, together with Oxford and Cambridge, forms the biomedical “Golden Triangle” or “Loxbridge”, attracting major venture capital and big pharma.

In the past five years, the UK attracted €7.6 billion of life science venture capital funding.

London is also home to the Wellcome Trust, the third wealthiest charitable foundation in the world with an endowment of £34.6 billion, whose aim is to “support science to solve the urgent health challenges facing everyone”.

Also in London is the Francis Crick Institute, a biomedical research centre with the biggest single biomedical laboratory in Europe, employing 1,500 staff, including 1,250 scientists.

 

4. London is an “amazingly resilient” city

London has managed to shrug off pessimism surrounding Brexit and lockdowns due to Covid thanks to its globalised economy, according to a December 2023 Economist article.

Between 2016 to 2021, London’s export of services such as finance, law, accounting, consulting, the media and higher education, grew by 47% to reach £152.2 billion, according to a recent report by think-tank Resolution Foundation.

Moreover, London remains the top city in Europe for new FDI projects, said another report by the London School of Economics.

Meanwhile, despite Brexit, the net migration to the UK was at its all-time high of an estimated 745,000 in 2022.

 

5. London is a global city and safe haven

In 2023, London was the top destination for overseas capital in the world, drawing in almost £5 billion worth of investments in real estate, showing that the city’s dominant position as a safe haven and a prime destination for flight-to-quality capital remains intact, alive and well, according to a November 2023 Knight Frank report.

London has proved resilient on the big questions of employment, global financial significance and the ability to successfully fund and incubate new ventures.

Greater London added a net 400,000 jobs from December 2019 to mid-2023 – a 7% increase over one of the most disruptive periods of modern times. The five business sectors with the most direct link to office occupation saw a 13.5% increase in jobs over this period.

London is also drawing in the largest share of venture capital in Europe, attracting about £63 billion worth of funding going into new growth sectors from life sciences, climatetech and creative sectors, including as film and gaming.

Other Posts...