London remains the world’s most attractive financial centre despite the looming threat of Brexit according to a recent survey,
Britain’s decision to leave the European Union has led many politicians and economists to predict that the capital will lose its status as a leading financial hub but there are few signs of this happening for now.
The city came top of the Z/Yen global financial centres index (GFCI) which ranks 92 similar cities on factors such as infrastructure and access to a high-quality workforce. New York – placed second – fell 24 points behind London which is the largest gap between the two cities since the survey started in 2007. The survey’s authors believe worries over US trade are the reason for the Big Apple’s fall.
Hong Kong and Singapore were ranked third and fourth respectively whilst German heavyweight Frankfurt has climbed twelve places from last year to sit in eleventh position.
Since the survey was conducted in June, talks between Britain’s Brexit minister David Davis and his opposite number at the European Commission, Michel Barnier, have become increasingly acrimonious.