London retains position as No. 1 for overseas investment

UK Capital continues to inspire confidence amongst foreign direct investors 

Overseas business investment into London has been given a vote of confidence with the announcement that London has been named as the leading ‘European City of the Future’ for the third time, once again topping the league tables at the biennial ‘European Cities & Regions of the Future’ awards, run by fDi Magazine.

London has emerged as Europe’s most prominent destination for foreign direct investment after coming out on top in three out of seven categories - Infrastructure; Human Resources and Economic Potential. London also claimed second place in the category of FDI Strategy, triumphing in more categories than any other city in the ‘Major Cities’ group.

London’s dominant position is not surprising, as figures demonstrate that London has attracted over a third more foreign direct investment projects during this period than any other European city. The rankings take into account the potential for economic development and the attractiveness of inward investment.

As Michael Charlton, Chief Executive of Think London, the official foreign direct investment agency for the capital, explained: “Our London consultants have helped more than 350 overseas businesses, which are generating in excess of 9,000 new jobs and safeguarding a further 2,900, set up or expand business in London since the city was last announced as topping the rankings in 2008. Furthermore, London’s long-standing ability to adapt and reinvent itself as a world class city for the 21st Century will ensure that these stories of successful globalisation continue to be replicated over the coming years. We have access to some of the world’s best talent, ideas and markets which make London the number one place in which to do business.”

The Mayor of London, Boris Johnson, said: “Yet again London has retained its prestigious crown as top city of the future - and rightly so. The capital is bucking the downturn, investing huge sums to improve its infrastructure, through projects like Crossrail and the 2012 Games.

But it is London's many other great strengths - from its unique diversity to its high quality of life - that keeps it ahead of the game and such an attractive city to live, work and invest in. And now as we emerge from the recession, these qualities are what will drive it forward to an incredibly bright and prosperous future.”