Before being overtaken by New York in the twentieth century, London had been leading other world cities in terms of size and wealth. London is a metropolitan capital and which still remains a powerful center where the world gets sucked. As Packer (2004) writes, London has grown to become a major financial centre of the world. The GDP of London is currently on the rise.
Increased population has the advantage of increased human resource and also the presence of a ready market for goods and services. The report also states that fewer Londoners are moving abroad. In addition to this, more people in England are moving from the rural areas into London for many reasons.
This means that the population is increasing by 10% in a period of eight years. Population of LondonĪccording to Bentham (2010), London’s population is set to reach 8.3 million people. The human capital of the British capital is also increasing. Business activities in London are also of a very high index. This index is based on the rich human resource and the cultural wealth and other strengths. According to Bloomberg Businessweek (2010), London ranks second after New York. The city is a metropolitan and therefore it has a mixture of different cultures. The city of London is considered a global city because of many reasons. Characteristics of London as a Global City Currently London is ranked second after New York City. For instance in the latest survey according to Kearney (2010), 5 of the top ten global cities come from Asia. According to recent surveys Asian cities are emerging as newcomers in the prominence of cities on the globe.
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