British hostility to immigrants and the EU threatens London’s status as one of the world’s leading business cities, according to a new report on the capital’s economic future.
Commissioned for London’s mayor, Boris Johnson and, carried out by business lobby group London First, the report says it is the first comprehensive jobs and growth plan for the capital: several international competitors including Chicago, New York, Rio de Janeiro and Hong Kong already have such plans in place.
Home to global headquarters of 193 companies — only Tokyo and New York have more — London also has foreign subsidiaries of 145 international companies — the highest number in the world.
But as power in the global economy shifts eastward, the UK capital must work to build up its relationships with emerging markets, particularly in Asia, the report says.
This should include much more promotion, to attract tourists, investment, businesses and students.
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http://www.ft.com/cms/s/0/4cbd727c-91c6-11e4-bfe8-00144feabdc0.html#axzz3OY2y5pLX
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