London offers a favorable business environment and is a top location for businesses in Europe. It has a stable tax regime with low corporate tax rates and has attracted more European headquarters than any other European city in recent years. London provides access to a large talent pool, major transport links globally, and a diverse economy that is projected to continue growing rapidly. The document promotes London as one of the best locations in Europe for businesses and investment due to these competitive advantages.
2. THE UK IS OPEN FOR BUSINESS
The UK offers one of Europe‟s most favourable tax regimes
3rd lowest city
Total tax payable as % of gross profit for tax payable
80
60
40
20
0
Milan Paris Madrid Brussels Dusseldorf Frankfurt Amsterdam London Geneva Dublin
Source: World Bank Doing Business 2010, fDi
Intelligence, from the Financial Times Ltd
3. UK’S FAVOURABLE AND
STABLE TAX REGIME
The UK signals strong political will to maintain economic stability and less complexity
around taxation.
% of gross profit
Main rate from 1 April 2011 26%
2012 24%
2013 23%
2014 22%
Small companies rate from 1 April 2011 20%
4. LONDON IS EUROPE’S 1
BUSINESS LOCATION
London has attracted three times more European headquarters than any other European city
since 2003
Headquarters (Inward FDI)
160
120
80
40
0
London Amsterdam Dublin Paris Geneva Madrid Brussles Dusseldorf Frankfurt Milan
Source: fDi Markets (www.fdimarkets.com) from the
Financial Times – Q2 2009. Number of Greenfield FDI
projects attracted into the location since 2003
5. LONDON HAS BEEN
VOTED
1 EUROPEAN CITY
FOR BUSINESS
FOR THE 21ST YEAR
6. EUROPEAN CITIES MONITOR 2011
Top European Cities to do Best cities for easy access
business to markets or customers
European City Ranking 2011 European Rank Rank Score Score
Change
City 2011 2010 2011 2010
London 1
Paris 2 London 1 1 1.5 1.31 0.19
Paris 2 2 1.09 1.15 -0.06
Frankfurt 3
Frankfurt 3 3 0.68 0.74 -0.06
Amsterdam 4
Brussels 4 5 0.46 0.49 -0.03
Berlin 5
Madrid 5 7 0.45 0.4 0.05
Barcelona 6
Berlin 6 9 0.44 0.37 0.07
Madrid 7
Amsterdam 7 4 0.42 0.6 -0.18
Brussels 8 Hamburg 8 15 0.35 0.31 0.04
Munich 9 Munich 9 11 0.34 0.37 -0.03
Zurich 10 Milan 10 6 0.33 0.42 -0.09
6
7. GFCI 11 TOP 5 AREAS OF
COMPETITIVENESS
Rank People Business Market Infrastructure General
environment access competiveness
1 London London London London London
2 New York New York New York New York New York
3 Hong Kong Hong Kong Hong Kong Hong Kong Hong Kong
4 Singapore Singapore Singapore Singapore Singapore
5 Tokyo Seoul Tokyo Tokyo Seoul
5 Chicago Chicago Zurich Seoul Tokyo
7 Seoul Tokyo Seoul Zurich Chicago
8 Shanghai Zurich Chicago Chicago Zurich
9 Boston Toronto Shanghai Geneva Toronto
10 Zurich Geneva Toronto Frankfurt Shanghai
7
8. LONDON’S SET UP COSTS
Cost of establishing a business
(percentage of income per capita)
8
7
6
5
4
3
2
1
0
Tokyo Dubai Frankfurt Shanghai NYC (NY) Paris Singapore London Toronto
Source: World Bank Doing Business Guide, fDi
Intelligence, from the Financial Times Ltd, 2012
9. RIGIDITY OF EMPLOYMENT
INDEX
Rigidity of Employment Index
60.0
50.0
40.0
30.0
20.0
10.0
0.0
Paris Frankfurt Shanghai Tokyo Toronto Dubai London Singapore NYC (NY)
Source: World Bank Doing Business
Guide 2012, fDi Intelligence, from the
Financial Times Ltd
10. COST & QUALITY
COMPETIVENESS
160
140
120
100
80 Quality Index
Cost Index
60
40
20
0
London Tokyo NYC (NY) Shanghai Paris Singapore Toronto Dubai Frankfurt
Source: fDi Intelligence, from the Financial Times Ltd (2012)
11. TAX LEVELS 70
COMPARED BY 60
LOCATION
50
The UK remains
competitive when
40
looking at total tax on
profits, compared to 30
locations like New
York, cities in Germany 20
or Paris
10
0
Profit tax (%) Labor tax and contributions (%) Other taxes (%)
Source: Ease of Doing Business 2012
13. ACCESS TO
ALMOST
12 MILLION
CONSUMERS
Source: 1 Eurostat regional statistics, 2009
14. 4 TH RICHEST
CITY IN THE
WORLD BY 2025
Source: 1 Eurostat regional statistics, 2009
15. OPEN FOR BUSINESS
EUROPE’S 1 LOCATION IN EUROPE FOR FINANCIAL AND
BUSINESS SERVICES AND CREATIVE INDUSTRIES
16. LONDON IS ONE OF THE MOST COST-
EFFECTIVE CITIES IN EUROPE TO
ESTABLISH A BUSINESS
Cost of establishing a business
20
Lower set up cost compared
to other European cities
15
10
5
0
Milan Madrid Amsterdam Dusseldorf Frankfurt Brussels Geneva Paris London Dublin
Source: World Bank Doing Business Guide
2010, fDi Intelligence, from the Financial Times Ltd.
17. LONDON OFFERS ONE OF EUROPE’S
MOST FLEXIBLE LABOUR MARKETS
Low rigidity of
Rigidity of Employment employment in London
60
50
40
30
20
10
0
Madrid Paris Dusseldorf Frankfurt Amsterdam Milan Brussels Geneva Dublin London
Source: World Bank Doing Business 2010, fDi
Intelligence, from the Financial Times Ltd
20. LONDON HAS A HIGHLY-
SKILLED WORKFORCE
More than half (53%) of London‟s working population are highly qualified2
% of population with tertiary education
60
50
40
30
20
10
0
London Brussels Amsterdam Paris Geneva Madrid Frankfurt Dusseldorf Milan Dublin
Source: 1. Urban Audit; National Statistics, fDi
Intelligence from the Financial Times Ltd. 2 ONS, 2007-
2008
21. 700,000 OF LONDON’S 4 MILLION
WORKFORCE COMMUTE INTO LONDON ON A
DAILY BASIS
22. LONDON’S TALENT POOL
With a working population of 3.6 million
2012 2011
and a further 4 million in the surrounding Institution name
region, London has the resources to ranking ranking
Massachusetts Institute of
supply a highly educated and 1 3
Technology (MIT)
experienced workforce
London employs 24% of all GB employee 2 1 University of Cambridge
jobs in computer and related activities
3 2 Harvard University
and 22% of all GB telecommunications
employee jobs UCL (University College
4 7
118,000 people are employed in the London)
Computer Software and Applications 5 5 University of Oxford
industry in London, increasing to 161,700
6 6 Imperial College London
people when including those employed in
the telecommunications industry 7 4 Yale University
Furthermore, London is the leading UK
destination for overseas 8 8 University of Chicago
talent, accounting for 25% of all overseas
9 13 Princeton University
students in the UK – and London‟s
universities work closely with the business California Institute of
10 12
community to ensure delivery of the Technology (Caltech)
talent needed Source: QS World University Rankings 2012/13
2 out of the top 10 universities worldwide
are London-based
23. DOMESTIC & Business & administrative studies
INTERNATIONAL Subjects allied to medicine
GRADUATES IN LONDON Creative arts & design
IN 2010/11
Social studies
London boasts access to some of
Education
the best graduate talents in the
world, with more top world ranking Biological sciences
universities and leading edge Engineering & technology
creative courses than any other
city. Creative arts & design, Computer science
architecture, building & planning, Law
and Mass communications are the
second most popular subjects Medicine & dentistry
studied, following business, with Languages
25,650 graduates
Mass communications &…
Creative arts and design
represent accounts for over Architecture, building & planning
16,000 graduates (domestic & Historical & philosophical studies
international)
Physical sciences
Mass communications and
documentation represented just Mathematical sciences
under 5,000 graduates in 2010/11 Agriculture & related subjects
About 4,600 London universities
Combined
students graduated in
architecture, building & planning in Veterinary science
2010/11
0 5000 10000 15000 20000 25000
Source: Higher Education
Statistics Agency 2010/11 23
24. DOMESTIC & Business & administrative studies
INTERNATIONAL Subjects allied to medicine
STUDENTS IN LONDON Creative arts & design
IN 2010/11 Social studies
Future access to talents from Education
London universities in creative
courses is well prepared. Biological sciences
Creative arts, design and Engineering & technology
architecture & planning are the
second most popular subjects Computer science
studied, following business, with Medicine & dentistry
59,000 students for 2010/11
academic year. Languages
Creative arts and design Law
represent one of the most Historical & philosophical studies
popular subjects with just under
47,160 students (domestic & Mass communications &…
international) Architecture, building & planning
Mass communications and Physical sciences
documentation represented just
under 12,830 graduates in Mathematical sciences
2010/11 Veterinary science
Architecture, building &
Combined
planning accounted for over
11,780 students at the same Agriculture & related subjects
period
0 20000 40000 60000
Source: Higher Education
Statistics Agency 2010/11 24
25. 40% OF LONDON’S
WORKFORCE WERE
BORN ABROAD
Source: LSE London‟s Place in the UK Economy 2009 – 2010
27. DIRECT FLIGHTS
TO MORE THAN
450 DESTINATIONS
Source: 1 OAG Worldwide
28. TRANSPORT LINKS
In 2011, London was voted Europe‟s most Paris and Brussels can be reached by
internationally accessible city by analysts Eurostar high speed rail service:
London to Paris: 2 hours 15 mins
Cushman & Wakefield for the 22nd consecutive
London to Brussels: 1 hour 51
year running mins
Five international airports handle over 120
million airline passengers a year, operating
direct flights to over 300 international
destinations worldwide
All major European business locations can be
accessed within two hours flight time from
London. There are 6,400 weekly direct flights
to European destinations
London sits at the hub of the UK‟s road
transport network, with the M25 providing
excellent access to major routes covering all of
the UK
London has one of the world‟s largest over-
ground/underground rail networks, with daily
average trips reaching 4.3 million in 2008 -
more than any other European city
29. TRANSPORT - AIRPORTS
London‟s five international airports Key London airport transport links
handle over 120 million airline Airport Links
passengers a year and operating
Heathrow Heathrow Express: direct service
direct flights to over 300 international departing to/from Paddington (Central
destinations worldwide London) every 15 mins, duration 15
All major European business locations mins. Underground: Heathrow to
can be accessed within two hours‟ Central London - 30-40 mins. By road:
Distance is 30 km
flight time from London‟s airports
The table below indicates the Gatwick Gatwick Express: direct service
departing to/from London Victoria
frequency of flights between London (Central London) operating every 15
and other major EU business centres mins (duration 30 mins). 49 km and 1
Weekly direct flights from London to major hours drive from Central London.
European destinations
London 20 mins from Bank/Canary Wharf
Destination No of weekly Flights City (Central London) by DLR. 16km from
the West End and Westminster, 10km
Munich 93 from the City of London and 5km from
Milan 122 Canary Wharf.
Brussels 56 Stansted Stansted Express: direct service
Amsterdam 172 to/from Liverpool Street Station
Stockholm 96 (Central London) departing every 15
Frankfurt 136 mins. Stansted is 57 km and about 1
Berlin 76 hour drive from Central London.
Rome 66 Luton Main national railway via Thameslink
Madrid 108 services to/from King‟s Cross Station.
Paris 51 65 km and approx 1hour drive from
Source: OAG Flight Disk (week of 25th April 2011) Central London
30. SUPER-FAST
BROADBAND CITY
London was recently designated a super-fast broadband city. Rolling
out fibre broadband speeds of 330Mbps from spring (from 80mbps).
90% London population will have superfast broadband by 2015. ½m
Wi-Fi hotspots (including on transport network).
32. LONDON OFFERS THE BEST
VALUE FOR INVESTMENT
Regional HQ Cost Quality Analysis
200
180
160
Quality Operating Cost
140
120
100
80
60
40
20
0
London Paris Madrid Amsterdam Frankfurt Milan Geneva Dublin Dusseldorf Brussels
Source: fDi Intelligence, from the Financial Times Ltd
34. LONDON IS THE ONLY
EUROPEAN CITY IN THE
TOP 20 FASTEST GROWING
CITIES RANKING
By projected GDP growth 2007-2025
(Source: McKinsey quoted in MarketingWeek 2012)
35. FUTURE GROWTH
Canary Wharf Group recently announced plans for
£2billion expansion and launched Europe‟s largest
„FinTech‟ accelerator space.
£6.5 billion has been invested in upgrading and
extending transport links.
£11billion investment in east London around the
Olympic Park.
Three quarters of the £9billion Olympic budget is
for long term regeneration of the area
National Infrastructure plan for the UK identified
£250billion worth of investment to 2015.
37. LONDON IS ONE OF THE
MOST MULTI-
CULTURAL, COSMOPOL
ITAN CITIES IN THE
WORLD
38. CULTURE
2 opera houses
4 world heritage sites
5 world class symphony
orchestras
10 National Trust sites
10 English Heritage sites
+100 theatres and music halls
+200 museums and galleries
40. QUALITY OF LIVING IN LONDON
VS GLOBAL CITIES
Quality of living index
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
Singapore Tokyo Frankfurt London Paris Toronto NYC (NY) Dubai Shanghai
Source: fDi Intelligence from the Financial
Times Ltd, 2012
41. A FAMILY Number of international
FRIENDLY baccalaureate schools
ENVIRONMENT 30.0
London has 27 offering
the international 25.0
baccalaureate
curriculum, with North
London Collegiate 20.0
School in Edgware and
King‟s College in
Wimbledon performing 15.0
very strongly
London also hosts 10.0
international schools
such as the French
Lycee Charles de 5.0
Gaulle and highly
thought after private
schools 0.0
Oxford and Cambridge
universities are 1 hour
away on the train
Source: fDi Intelligence from the Financial
Times Ltd, 2012
43. WHY COMPANIES CHOOSE
LONDON …
“We chose London because of the wealth of talent and expertise available
in conducting complicated cross border transactions.”
Mr Zhuobiao Chen, Managing Director in London, CNOOC
“We chose London because it is a more attractive place for Indian
businesses. It is the most important business centre in Europe and the
financial services industry is very advanced here. Another reason for
choosing London was to take advantage of the excellent access to global
capital markets.”
Samuel Joseph, Bank Representative, The Export Import Bank of India
“This investment confirms the UK‟s position as a major worldwide scientific
hub for the company. We chose London because of its excellent reputation
for clinical research and pool of highly qualified and talented scientists.”
Willard Dere, Senior VP & International Chief Medical Officer, Amgen
44. WHY COMPANIES CHOOSE
LONDON …
“We see the UK as a launching pad for the rest of Europe. The UK is a year
or two ahead of Europe in terms of investing in new technology. It‟s a large
market. It has an excellent skilled labour pool. It‟s an expensive city but I think
you get your money‟s worth by having really quality people.
Frank Mahdavi, Chief Strategy Office, MIR3
"Being in London means we have the ability to reach and develop the
market far faster. Previously we were trying to service our European
customers from the US – the wrong side of an eight-hour time difference.”
Mike Grafham, Customer Success (EMEA), Yammer Inc
“The attraction of London is the people and the talent. It was obvious that
London was the place to be.”
James Harrison, CTO, Brit Services Technology
45. PRIME OFFICE RENT COMPARISON
Location Prime Office Rents Location Prime Office Rents
per sq. ft. per annum per sq. ft. per annum
London Belfast £13.00
West End Glasgow £28.50
Covent Garden Manchester £29.50
£47.00
Paddington Birmingham £27.50
£41.00
Soho Bristol £27.50
£40.00
City Leeds £25.00
Central City Core Edinburgh £25.50
£53.00
Midtown Cardiff £22.50
£43.00
Eastern Fringe Newcastle £20.00
£28.00
Northern Fringe Liverpool £21.00
£30.00
Canary Wharf Cambridge £27.50
£35.00
Oxford £22.00
Outer London locations Reading £29.00
Chiswick £37.50 Bracknell £22.00
Croydon £25.00 Maidenhead £30.00
Hammersmith £35.00
Harrow £16.50 Selected EU locations
Kingston upon Thames £22.50 Dublin £25.70
Uxbridge £28.50 Geneva £65.00
Romford £14.00 Paris £61.50
Wimbledon £29.50 Zurich £68.50
Heathrow £22.00 Amsterdam £25.00
Uxbridge £28.50 Barcelona £16.50
Madrid £22.50
Note: All prices indicate average asking prices for prime Stockholm £36.50
rents per sq.ft. per annum in selected areas (exclusive of Munich £27.00
rent free periods). Prices quoted are for rent only and
exclude rates or service charges.
Cologne £19.50
Source: CBRE/Jones Lang LaSalle/GVA/Knight Frank/
CoStar, Q1-Q2 2012
46. HOW LONDON & PARTNERS
CAN HELP YOUR BUSINESS
SUCCEED
47. THE EXPERTS ON DOING BUSINESS IN LONDON
HOW WE CAN HELP YOU SET UP
BUSINESS
FIND THE
PROPERTY
FIND THE
BUSINESS FIND THE EXPAND YOUR YOUR
&PROPERTY
LOCATION
CASE RIGHT PEOPLE NETWORK LONDON
& LOCATION
- Sector Intelligence - Specialist Recruitment - Office Specialists - Professional Service - Culture & Social Life
- Legal Requirements - Funding & Training - Market, Clients & -- Events - Visas & Work Permits
- Corporate/Tax Structure - Salary Benchmarking Transport -- Government Contacts - Schools & Colleges
- Cost-effective Set-up - Employment Practice - Labour Pool -- Policy-makers
- Demographic Mapping
WWW.LONDONANDPARTNERS.COM/IMAGINEYOURBUSINESS
BUSINESS@LONDONANDPARTNERS.COM
@L_PBUSINESS JOIN US ON LINKEDIN: ‘LONDON & PARTNERS FDI GROUP’
[EHQ] [WCofB] [Open4biz]This chart is taken from the the World Bank ‘Doing Business Guide 2010’ – and indicatesTotal tax payable by businesses (% of gross profit).It shows how the UK’s (still) offers one of Europe’s most favourable tax regimesFrom April 2011 UK corporation tax will be reduced by 1 point each year until 2014 moving from 28% to 24%, giving Britain the fifth lowest rate in the G20 leading economies. This is a signal that the UK and London are ‘open for business’ and ensures strong political will to maintain economic stability.The UK’s highest corporate rate is the lowest in the G7 (Deloitte) and the UK's highest personal tax band is one of the lowest in the EU (Deloitte)
http://www.hmrc.gov.uk/rates/corp.htm
[EHQ] [WCofB]It’s not just large companies that are attracted to LondonThe UK Capital has attracted over three times more European HQ’s than any other European city – well ahead of Amsterdam, Dublin, Paris and genevaGlobal Cities Investment Monitor, launched by the Greater Paris Investment Agency in partnership with KPMG, places London on top as being the most attractive city with the best image for overseas investment among major cities world-wide. Source: Greater Paris Investment Agency, February 2010]
[EHQ] [WCofB]And the reason (London has attracted more HQ’s than any other European city) – is because London is Europe’s favourite business location. For twenty years, London has repeatedly been recognised as the best city in which to do business. In the Cushman & Wakefield, European Cities Monitor survey, London was voted ♯1 European city for access to markets, access to qualified staff, on transport links, on telecommunications and on languages spoken. And those are just some of the reasons London is the best location for a European Headquarters
Source: Cushman & Wakefield, http://www.cushwake.com/cwglobal/jsp/kcReportDetail.jsp?Country=GLOBAL&Language=EN&catId=100003&pId=c38200001pOn Spike: http://spike/Document Repository/Cushman Wakefield European Cities Monitor 2011.pdf
Source 2011 index: M:\\Strategy\\segmentation and propositions\\FDISource mid 2012 ranking: M:\\Strategy\\segmentation and propositions\\FDIOn Spike: http://spike/Document%20Repository/Global%20Financial%20Centres%20Index%202011%20March%202012.pdfMethodology: - infrastructure competitiveness: evidence drawn from a survey of property and an index of occupancy costs - fairness of environment: drawn form corruption perception index and an opacity indexCompetitiveness factors by main importance: availability of skilled personnel; regulatory environment; access to international markets; access to customers; fair and just business environment; government responsiveness; corporate tax regime; operational costs; access to suppliers of professional services; quality of life; culture & language; quality / availability of commercial property; personal tax regime
Note: Official cost of each procedure associated with registeriLondon is one of the most cost-effective cities in the world to establish a business. In London, it takes an average 13 days to set up a business compared to the European average of 32 daysLondon is highly competitive in terms of business costs offering various low cost to competitively priced prime office and warehouse space. Good value property space is also available in central and outer Londonng a firm. Presented as a percentage of income per capita.
In comparison globally, it is easier in London to hire and manage staff volumes than in cities like Paris, Shanghai, Dubai or TorontoLondon is third to New York and Singapore in rigidity of employment index, but remains first for ease of doing business
The first point about London is the sheer scale of the market opportunity – London is Europe’s largest consumer market, with almost 12 million consumers.London and its surrounding areas constitute the largest urban zone in the EU]
The second point is that not only are there a large number of consumer’s in London but they are also wealthy – three time higher than the European average in fact. And by 2025, London will be the fourth richest city in the world.If your business ultimately serves consumers, there is no better location in Europe than London.[Editor’s note: Emphasis on “the fourth richest city in the world by 2025”]
Another reason London has attracted so many businesses is the ‘cluster’ effect.London dominates Europe as the global centre of financial services, as the leading location for business services and as the world’s leading creative centre.So whether you need to be close to your customers or need to the support of the world’s leading business services and creative companies, London is the place to come.[Speaker’s note: the sixth Global Financial Centres Index, which tracks the underlying competitiveness of financial centres, has recently re-confirmed London as the number one global financial centre, despite the ongoing volatility in global financial markets.]
[EHQ] [WCofB] [Open4biz]In London, its fast and cost effective to set up your business – one of the most cost effective locations in Europe. It takes an average 13 days to set up a business in the UK, compared to the European average of 32 days. (OECD)
London-based companies are able to scale their businesses up and down.Compared to other major European locations, London offers the least rigid regulationsand therefore the UK has the most flexible workforce of any large EU economy. Freelancers and contractors comprise approximately one fifth of its workforce (World Bank)]: ‘Rigidity of employment’ measures how difficult it is to hire a new worker, how rigid the restrictions are on expanding/contracting the number of working hours, and how difficult/costly it is to dismiss a worker. 0 to 100 scale. Higher values indicate greater rigidity]
[EHQ] [WCofB] [Open4biz]London’s geographic location enables it to overlap with normal office opening hours for other countries across the world that account for 99% of world GDP. (Source: Mastercard Worldwide Centers of Commerce Index 2008.)And of course London is English-speaking - the language of international business.
[EHQ] [WCofB] [Talent]The third unique benefit is the scale, diversity and skill levels of London’s workforce
[EHQ] [WCofB] [Talent]London offers a highly trained workforce- More than half (53%) of London’s working population is highly qualified, covering senior positions in management, professional and technical occupations, and associate professorships2 –a higher percentage of London’s population have tertiary education than any other major European city and London is home to 2 of the top 5 universities in Europe: University College London and Imperial College. A further 2 of the top 5 are in the UK.[1.9m out of 3.7m; 53%, are highly qualified
[EHQ] [WCofB] [Talent]London boasts Europe’s largest regional workforce – 4 million people work in London - more than in Ireland and the Netherlands combined. Of these, 700,000 people commute into London on a daily basis [: Labour Force Survey/GLA Economics, May 2010][: Full screen graphic. Emphasis on ‘home to a workforce of 4.13 million people’]
Source: HESA, compiled by London & Partners Ltd (http://www.hesa.ac.uk/content/view/1897/239/)Def Creative arts & design total: Broadly-based programmes within creative arts & design; Fine art; Design studies; Music; Drama; Dance; Cinematics & photography; CraftsImaginative writing; Others in creative arts & designDef Architecture, building and planning: Broadly-based programmes within architecture, building & planning; Architecture; Building; Landscape design; Planning (urban, rural & regional); Others in architecture, building & planningDef Mass communications & documentation total: Broadly-based programmes within mass communications & documentation; Information services; Publicity studies; Media studies; Publishing; Journalism; Others in mass communications & documentation
[EHQ] [WCofB] [Talent]London boasts Europe’s most diverse talent pool40% of London’s 4m strong workforce were born abroad1 For the last 20 years, London has continued to attract international talent, with positive net migration2. [Speaker Note: Sources: 1 LSE London’s Place in the UK Economy 2009 – 2010 2 Office of national statistics]
[EHQ] [Connectivity]London’s position as most connected city in Europe – both in terms of transport but also in terms of the internet
Cushman & Wakefield, European Cities Monitor, 2011Underground source: TFL, Travel in London, 2010
Source: OAG Flight Disk (week of 25th April 2011)Source airport connection time: London & Partners
One of Europe’s most wired cities London was recently designated a super-fast broadband city. Rolling out fibre broadband speeds of 330Mbps from spring (from 80mbps). 90% London population will have superfast broadband by 2015. ½m Wi-Fi hotspots (including on transport network). [Speaker’s note: Source: 1 Continental Research, 2006 2 UK Video Games & Consoles Retailing 2008, Verdict, October 2008. 3Digital Britain Interim Report, January 2009. 4. Office of National Statistics]And it’s not just London - The UK is a wired nationSeventy per cent of UK households had access to the internet in 2009 (18.3 million households) 3 and 9.9m households in the UK have a broadband connection1The majority of UK web users have been online for more than eight years.5Almost 90 per cent of the UK population has at least one digital television in their homes. 2Fifty one per cent of UK 12-19 year olds say they keep in touch with friends using social networking websites (versus 29 per cent for rest of world).4UK consumers are the most active digital-content producers in the world, engaging in new media technologies early, inspiring global debates and setting the bedrock for future innovations.[Editor’s note: The UK’s mobile phone network - SS: Offcom data?Mobile infrastructure (GPRS vs GSM) ]
[EHQ] [WCofB] [Value]According to the Financial Times, London offers any international business looking at setting up a European headquarters considerably higher quality than any other major European city - almost double the average - whilst other European cities offer marginally lower costs but considerably lower quality.This gives a measure for business return on investment and it is supported by the mood of commerce in London. In a recent study, 90% of international business’ in London were satisfied with London.[Speaker’s note:What is quality?The average cost and quality score is 100 for the locations. The scores are calculated using real data on all the location requirements and cost inputs and is supplied by fDi Intelligence – part of the Financial Times.In terms of the quality index, this consists of datapoints broken down into 5 key areas, which are weighted according to a detailed analysis of the importance of each of these factors to a HQ project as follows: Presence of an Industrial Cluster – 35%Labour Availability and Quality – 25% General Business Environment – 15% Infrastructure and Accessibility – 15% Living Environment – 10%The cost index is calculated based upon 3 main cost factors: Property rental cost Telecoms costs Labour costs]
The GFCI 2011 index ranked London the first international centre for wealth management in the world, and the first for government and regulatory environment, and professional services
Canary Wharf Group recently announced plans for £2bn expansion and launched EU’s largest fintech accelerator space. http://www.standard.co.uk/news/london/canary-wharf-banking-on-bright-future-with-2bn-plan-for-shoreditchstyle-shops-8218296.html
[EHQ] [WCofB] [Lifestyle]There is also an important feature of London’s offer – the lifestyle in Europe’s most cosmopolitan city.
[EHQ] [WCofB] [Lifestyle]Anyone can feel at home in London. It is extraordinarily diverse, with over 30% of London’s population belonging to ethnic minorities.Multi-culturalLondon is one of the most multi-cultural, cosmopolitan cities in the world, with a long-standing tradition of welcoming international businesses and individualsOver 30 per cent of London’s population (2.2 million people) belong to ethnic minorities34 countries are represented by resident communities of over 10,000 people1Home to over 40 international schools2Food from around 70 different countries and regions is available in London’s many restaurants, including 36 Michelin-starred restaurants3
[EHQ] [WCofB] [Lifestyle]Attractions: London has four world heritage sites 4, over 200 museums and galleries, 10 national trust and 10 English Heritage sites, 108 theatres and music halls, 5 world class symphony orchestras and 2 opera houses1World-famous shopping including designer boutiques, open-air markets and some uniquely British retail experiences, such as Harrods, Selfridges, Fortnum & Mason, Hamleys and Liberty’s
[EHQ] [WCofB] [Lifestyle]30% of London’s area is made up of green space including 143 parks and gardens
No. of IB world schoolsNumber of international Baccalaureate schools - Primary Years Programme (PYP), Middle Years Programme (MYP) and the Diploma Programme (DP)
[EHQ] [WCofB] [Lifestyle]London is home to a number of the UK’s leading schools – including the likes of Westminster School which consistently ranks as the UK’s leading school (FT Top 1000 Schools Report 2009) - and can boast over 40 international schools where over 350 languages are spoken, providing incoming families with continuity and quality regarding their children’s education.[Speaker note: Data from the annual census of members of the Independent Schools Council (ISC) shows that of the1,265 schools in the UK membership of the constituent associations of ISC - Greater London is home to 195 schools.]
Source: CBRE/Jones Lang LaSalle/GVA/Knight Frank/ CoStar, Q1-Q2 2012