Thursday, May 26, 2016

London is the second best tech city

London was ranked as the second best city in the world regarding attractiveness to investors, following San Francisco.

EY UN’ Attractiveness Survey 2016 suggested that 21 per cent of investors voted to London, followed by New York and Beijing. Furthermore, 57 % of voters chose London as a favorite place for foreign direct investment. The UK created over 42,000 jobs, the most in any year since 1997.

ITProPortal: London is almost the tech capital of the world

This news is welcomed to Londoners. However, the report also suggested several worries about the future. Only 23 % of respondents thinks positively about consistent investment in the UK for the future. This proportion was decreasing by 4 percent from the previous year. And 36 % believe that UK’s attractiveness will improve, decreased by 18 % from the previous years. These results mean that expectation for the UK about its attractiveness as a subject for investment is questionable.

Attractiveness Survey 2016

As a temporal Londoner, I think London is an attractive city. But, aged infrastructure is one of the biggest challenges for further development. Though lacking personal experience, I think newly developed cities are more convenient both for daily living and business performance. On the other hand, diversity in citizens is considered to be an advantage for the UK. The new mayor of London is a Muslim, for the first time as a governor of a major city in the EU.

As described in this article, the result of Brexit referendum will influence on London and the UK in terms of its value for the investment. If they decide to leave EU, many investors will abandon London, I guess.

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