While there remains a number of bustling metropolises across Europe and the U.S., London is the one that remains symbolic as a hub for business excellence. Despite the prosperity of regions such as Melbourne in Australia and the power of the American Dream that underpins New York, it is London where entrepreneurs and investors visit when they want to optimise their profits. Appealing to both British business-owners outside of the capital and those further afield, London can justifiably claim to be the global capital of commerce.
London is the land of opportunity, diversity and culture?
With more than 300 different and varying languages spoken in London alone, and with London identified as being known as one of the worlds most visited city. It’s fair to say that London is one of the most culturally rich and diverse cities in the world, with its population of varying cultures growing each year. London is also the land of opportunity and growth, having recently being voted as the most desired place to work in the UK homing some of the world’s largest global companies it’s easy to understand why this social and business hub has occurred. But how exactly has London developed to become one of the global capital Markets?
How has London Emerged as the Global Capital of Commerce?
While this reputation has persisted for generations, it is vulnerable to real-time economic trends. It just so happens that London’s stock has never been higher in the current economic climate, as widespread growth in the UK and social trends have combined to drive interest in the capital. Relentless growth in the property market has made London the primary target for overseas real estate investors during the course of the last 18 months, for example, while the expansion of the British GDP has also increased the capital’s appeal among international entrepreneurs.
From a social and political perspective, the threat of global terror has had a huge impact on financial and business markets from around the world. The recent events in Paris have underlined the threat facing European economies, and while the UK is not immune to this it remains better placed than most to maintain security. The island location of UK helps political powers to reinforce borders, while the presence of advanced intelligence also earmarks London as a profitable and relatively safe place in which to conduct business.
Targeting Affluent Consumers with Premium Pricing
Interestingly, London is equally alluring to British business-owners based outside of the capital. There are several reasons for this, with the most prominent being the consumer demographics available in London. Given the high cost of living in the capital, residents tend to be young professionals with high amounts of disposable income, which offers businesses a chance to optimise their profitability. London’s reputation for inflated prices also allows entrepreneurs to maximise individual unit prices, so they can cover increased living costs while reaching a more engaged market.
In addition to this, the presence of virtual, serviced office space in London enables entrepreneurs to reduce operational costs further without compromising on the numerous benefits of the capital. Services such as Landmark PLC also offer prestigious London addresses, which may be alluring to financial firms and lenders who wish to be affiliated with a major city. London’s financial district is also among the most renowned in the world, and an association with such a region can reassure potential customers.