Home / Finance & Business / London's Brexit BOOM: Capital's growth to beat Paris and Frankfurt, study finds

London's Brexit BOOM: Capital's growth to beat Paris and Frankfurt, study finds

A bumper growth of 2.4 per cent year until 2012 is predicted for London – far stronger than some of Europe’s biggest cities and greater than the average GDP growth of all Eurozone – research by Oxford Economics showed.

By comparison, Paris is expected to grow by 1.7 per cent a year over the period, Frankfurt 1.5 per cent and Berlin 1.9 per cent, according to the study for London & Partners.

At the same time, the capital’s innovation, culture, and transport links have helped London retain its crown as the globe’s most attractive city for business and culture, as ranked by an influential research firm.

Japan’s Mori Memorial Foundation found London beat 44 major cities in the Global Power City Index which looks at key measures, including economy, research and development, culture, accessibility, the environment and livability.

It is the sixth year in a row that Britain’s biggest city has retained the top spot in the rankings, ahead of New York, Tokyo, Paris and Singapore.

It comes as overseas tourists made a record 19.1 million visits to London in 2016.

The Mayor of London, Sadiq Khan, said: “With its unrivalled talent pool, the presence of a huge number of global businesses across all sectors, and access to regulators, business support services and vital European markets, London is the best place in the world to do business.

“What’s more, the capital’s cultural attractions, food scene and sporting calendar are world-leading – just a few of the reasons London is such an attractive place to live and work.”

Richard Holt, head of global cities research, Oxford Economics added: “London has the huge advantage over most other cities that it has not one or two strengths but many.

“From financial services to medical research to legal services to tourism, London is a world leader.

“And new digital technologies mean that the barriers between these are becoming ever-more blurred, allowing companies to follow opportunities across different markets.

“Since London is also a leader in digital technology, that makes it not just one of the largest cities in Europe but also one of the most flexible. It’s a winning combination.”

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