London, the capital city of England and the United Kingdom, is a leading financial hub and a global city. It is a dominant center for commerce and international trade, and is the sixth largest city economy in the world.
It is Europe's financial capital and is also one of the most undisputed cities for Foreign Direct Investment (FDI) in Europe, with a massive global investment of $70 billion. Almost every year, London continues to allure a substantial amount from highly qualified individuals. Owing to these factors, London has been voted as the top city in Europe with access to highly qualified staff.
The London Development Agency (LDA), the London's mayor's agency, is specially designed to drive London's sustainable economic growth. It knows that the growth of FDI is beneficial to London and Londoners and hence it is taking all the possible steps to attract FDI. To attract more and more foreign investment, the LDA works with partners and provides investors with support and intelligence to help them become established in this financial capital. The London Development Agency provides and coordinates business growth and inward investment, and also caters a strategic direction to various partners across London.
As Europe's business, financial and innovative capital, and also known as the engine room of the entire UK economy, it is one of the most vital cities in terms of investing. It is growing at an unprecedented rate; it is estimated that by around 2016, there will be as much as 800,000 people settled in London. This has opened the doors for new vibrancy and opportunities for many people and especially for businesses.
It already accounts for 22.7% of foreign investment project amongst all the new foreign investment projects such as business services, financial intermediation, pension and insurance and highly-advanced manufacturing sectors. Non-manufacturing inward foreign investments have a lot of opportunities to be explored.
Key investing sectors:
Considering the many opportunities London provides to global investors, it is not a surprise that there will be a plethora of industries in London which show or have a huge potential for investing. Some of the key investing sectors in London are:
Financial Services: London has a concentration of capabilities and capital which are an above comparison for investing in London. It also has an effective and a proportionate regulatory system which mainly focuses on future prospects.
Information Technology: London has a lot of opportunities in the IT sub-sectors such as Software and IT Services, Telecommunications and Electronics.
Major business and financial services firms stipulate that London is the primary global business center in the world. In terms of density and intensity of networks, it is massively ahead of any other European city. Its world class infrastructure and massive future prospects make it a safe haven for foreign investors who wish to locate business activities in the United Kingdom or more comprehensively in Europe.
To sum up, London acts as a magnetic center which has an ability to pull FDI especially in its services sector.