“The man who can dominate a London dinner-table conversation can dominate the world”. This famous quote by Oscar Wilde goes some way towards explaining why London has been the breeding ground for so many famous and infamous characters known the world over.
In an ever more globalised and connected world, London has proven to have what it takes to remain at the top of the international power structure. It is the only city other than New York awarded α++ status by the Globalization and World Cities Research Network, in recognition of its international connectedness.
It is no surprise that London has been awarded such status. It is uniquely placed at the centre of the European, Asian, and US time zones, has the largest GDP off all the cities in Europe, and English is the lingua franca of the international business world.The appeal of doing business in London has lead to it becoming one of the most popular destinations for foreign companies, across a wide range of sectors. In recent years the demand for London office space has become so great that several development projects have been announced aimed specifically at attracting businesses from Asia and the Middle East. As of 2011, more than 75% of Fortune 500 companies had invested in London office space, and over 20% of the 500 largest companies in Europe were headquartered in London.
Classic London Telephone Boxes.
London has proven time and again that it has the ability to adapt to changes in the global economy. An excellent example of this is the growth of “Silicon Roundabout” since the late noughties. The area around Old Street Roundabout was originally the site for a handful of tech start-ups. With encouragement from the government and private investors, it has grown into the third largest tech start-up hub in the world, behind only San Francisco and New York City.
Tower Bridge is one of London's best known landmarks