London ranked best financial capital in the world

LONDON has knocked New York off top spot as an international centre for business, finance and culture, according to a report by PwC.

According to the accountant’s sixth annual index of 30 major cities internationally, the UK capital was ranked first overall and in also in terms of its economic clout, reputation as an urban gateway, technology access, and development and design capabilities.

Reinforcing London’s growing reputation as a tech hub, the city was also found to be “technologically on top of its game” leaping from eighth place in last year’s report to joint first with Seoul for technology readiness this year.

London also received gets top ranking for software and multimedia development and design, finished second overall for broadband quality, and ranked third behind only Singapore and Seoul for internet access in schools.

The UK capital finished a narrow second to Paris in intellectual capital and innovation, up on last year’s performance, with strong performance in the number of people in higher education, the quality of universities, and access to libraries.

However, the city’s performance in terms of cost and the environment could be better, with the city slipping to mid table overall against its competitors on cost, sustainability and the environment.