An interesting thought has been raised this week in a BBC news report that has got people talking. The BBC’s economics editor, Stephanie Flanders has raised the question; ‘If there was to be a ‘capital of the world’ which city would it be?
In her article she suggests that most people, Americans included, believe that the answer without a doubt is London but is she and the countless people that have suggested England’s capital right?
On first look you can see why London has been touted. Historically it was the capital of the British Empire which spanned the globe and so at the time was already a quasi-world capital. However the decline of the empire and of Britain itself is enough to discount the city or is it?
Despite the toll taken by the global recession, London has remained a shining star in the world with its GDP growing by an average of 3% a year since the recession started and seeing a 4% average rise in property values in the capital since 2007. Compare that with an average annual drop in UK national house prices of 3% in that time.
Where London scores on the global importance scale is in its financial clout. It is the world’s leading financial centre despite the protestations of Zurich and New York. It is also one of the world’s most important transport hubs taking air traffic from Europe and distributing it to Asia, the Middle East, Africa and America. That makes it a great place for meetings and for setting up businesses.
For most people though, the clearest sign of London’s potential as a world capital is in the people that live there. You’ve only got to take a walk on the streets of London; a journey on the tube or on a bus and you’ll rarely hear a true Anglo-Saxon. People from countless nations call England’s capital their home and there are few, if any, other cities that have such an eclectic mix of people, making London a true multi-cultural city and therefore one deserving of the title of world capital.
Try if you like to push New York, Washington, Beijing or Tokyo and whilst they may outpoint London in one or two categories, only London has the winning hand if it should ever come to a vote. Of course, we offer cheap car hire in London
and all the other capital cities to enable you to get around and explore what each has to offer.