UK IMMIGRATION NEWS

London Taking on New York as World Financial Capital

Thursday, 2 August 2007

London may be beginning a new golden age as the dominant player in international finance.

Many financial analysts are now considering London to be the centre of international business and finance, rather than New York.

While New York relies on the large, but increasingly faltering, US economy to drive its fortunes, London is situated as an international centre of finance. Almost one third of the world's currency exchanges take place in London. Tellingly, almost half of the world’s foreign equities are traded in London.

Increasingly as well, London is a beacon for firms from emerging economies to raise capital and venture into the international market place.

London is ideally situated, a bridge point between Europe and North America, with substantial connections to Asian markets through a history of trade, integration and immigration.