Business exodus London comes top by almost every measure in poll of top cities for the rich
07:26 GMT, 29 March 2012
The advancing influence of the East has been brought to an abrupt halt at the mouth of the Thames.
Although Hong Kong, Singapore and Shanghai continue their steady climb up the ladder of globally dominant cities, it is London that tops the charts as the greatest on earth.
In economic activity, political power, quality of life, knowledge and influence, the UK’s capital is streets ahead of the competition.
Streets ahead of the competition: The capital came out on top in a survey
It even trumped the Big Apple, leaving
New York in second place, according to the 2012 Wealth Report, compiled
by high-end estate agents Knight Frank.
The survey looks at global property
prices and the number of billionaires across the world. This year for
the first time, the study included a chapter on the most important
cities in the world, with London emerging as the winner.
‘London continues to lead the pack,
coming top in virtually every category of our survey,’ said Knight
Franks’ Vicki Shiel. ‘But that could all change with emerging-economy
cities such as Beijing and Shanghai rising up the ranks.’
The results are taken from a survey by Citi bank into the competitiveness of major world cities.
Shiel said: ‘Survey respondents from
all regions bar one voted it the city that matters most to their clients
now.’ Only among Latin American responders was London pushed into third
place after New York and Miami.
The survey also asked for predictions
as to which city would top the list in ten years’ time and in 2050.
While London was expected to retain its crown in 2022, Shanghai’s was
expected to bump the capital from the top spot by the middle of this
The survey also showed that London was
the third most expensive place to buy property in the world – with
Monaco topping the list, where each square metre of space costs 36,773.
In London, the same space would set you back 30,844.
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