London declared best business hub for 16th consecutive year

[richard]

London has increased its lead over Paris for the 16th consecutive year as Europe's best city to locate a business, according to 500 of Europe's top companies surveyed in Cushman and Wakefield Healey and Baker's European Cities Monitor (ECM) 2005.
London won its first-class ranking over 30 other European cities, including Paris, Frankfurt, Brussels, Amsterdam and Barcelona and has been top in every year since the study began in 1990, with consistent scores. London was voted first in five out of 12 categories surveyed, including access to markets, qualified staff, external transport links, telecommunications and number of languages spoken. The survey also showed an increase in the number of companies who said they are expecting to locate in London over the next five years, adding to the 38 billion pounds that Foreign Direct Investment (FDI) already contributes to the London economy. The research also highlighted the opportunities offered by Asian markets. The growth of China and India was highlighted as the most significant factor to impact on European businesses over the next ten years. As such Think London is actively promoting investment from both markets into London and has plans to establish offices initially in China and then India to capitalize on the opportunities for FDI. London's hosting of the 2012 games is expected to further increase profile and investment flows as well as its lead over the rest of Europe. In a new question for this year's report, (whilst two-thirds of European companies interviewed said that holding a major sporting or cultural event would not influence their decision to locate in a city), the Olympic Summer Games was rated as the event that would have the best impact on a city. Michael Charlton, Chief Executive of Think London, the official foreign direct investment agency for London, said: "London is the ultimate place to do business. It offers international companies the best possible opportunity for business success and the survey results back this up year after year. Winning the bid to host the 2012 Olympic and Paralympic Games confirms London's position as the number one city in the world and will provide the perfect catalyst to attract more Foreign Direct Investment. We are investing more resources in China and India to ensure that London is well placed to take advantage of the growth in investment from these markets". Mayor of London, Ken Livingstone commented: "The European Cities Monitor highlights London's status as a truly global city and shows how much overseas companies value what we have to offer. It's clear that staging the greatest Olympics and Paralympics Games ever in 2012 will only enhance our reputation as the best destination for locating a business." Think London has assisted over 800 companies from 35 countries over the past 11 years. Some of the latest investors assisted by Think London include: American consulting and engineering firm EYP Mission Critical Facilities, the investment arm of the State Bank of India, SBI Capital Markets; tax and technology specialists Braithwaite and the fashion brand ''matt and nat'' both from Canada. EYP Mission Critical Facilities Managing Director, Edward Ansett commented: "As a global leader in investment opportunities at the forefront of regional growth and international development, London was the obvious first choice as EYP Mission Critical Facilities European Headquarters. London provides the ideal business environment for companies to successfully expand throughout Europe. Undoubtedly a world class financial and information hub it provides limitless opportunities for those willing to create them. Think London is an excellent support network which is invaluable for any business wishing to invest." Sameen Alavi, Director of UK Operations for matt and nat, commented: "We had thought about setting up an office in other European cities but they simply didn''t rival London's offering. It's internationally-renowned, it's the place to be, and it's so central to other countries."


Source
indiadaily.com