Fireworks light the London and Big Ben after midnight January 1, 2025.
Karl Court Getty Images News | Gety pictures
London, the jewel in the crown of the economy in the United Kingdom and the national culture, has taken little beating recently, with Large companies are looking to expand elsewhereWorkers looking for more affordable places to live and a film of millions who flee the city.
A new tax system targeting the London -based Super Rich SUPER Rich situation Payment of an estimated 10,000 millionaires to flee the city in 2024 In search of the safest havens of their money. For others, the high living costs-and the postpartum reassessment of what makes the quality of life-pushed many people of working age to leave the city, Data showsBecause it becomes expensive to stay.
London’s pride has also been spawned as a commercial center in recent years, as local companies have searched elsewhere to expand themselves or are increasingly expanding to public subscription abroad Or transfer their basic list away from the United Kingdom
So, is everything death and depression for great smoke? Not necessarily.
Although the streets may not be paved with gold, London still has irresistible clouds for millions of people looking for work, study and play, With an estimated 20 million tourists visiting the city in 2023.
CNBC has requested many UK analysts about their ideas on whether the city is on a landing path, or just trying some bumps on the road. This is what they said.
A city in retreat?
“For years” when it comes to its commercial attractiveness and the ability to bear the costs for the ordinary people, Bill Blain, the market strategy, the former investment bank and the author of the Blain’s Morning Forridge, CNBC.
He said that doing business in the capital “is no longer nice now”, and the atmosphere in the wealthy city of London and Kanari Warf, the financial areas in the capital, worse.
Blain said: “There is no tanner that we used to have in the city, in Canary Warf,” expressing faster than becoming related London. “
“You call me one large bank to invest in the United Kingdom? You call me one private capital market in the United Kingdom? It is all large American companies,” said Blin.
Workers cross an intersection near the Bank of England in London on April 8, 2025.
Bloomberg Bloomberg Gety pictures
“When it comes to banks, you have the Europeans, the French and the Germans, who are only there on the skin of their teeth. But nothing remains for the United Kingdom to the city today and take a look around it, which is fatal. There are many people there, but they are all insurance insurance, or whatever.
Blin blames excessive organization in the demise of the city, believing that “the number of people who participate in compliance and organization and its formation greatly outperforms the number in the line of confrontation for financing.”
Blain said he believed that he had heard his global reputation because of the presence of a relatively stable political institution, With six prime ministers in the past ten yearsIt was also distorted in the wake of the troubled exit from the European Union five years ago.
The European Union demonstrators protests against Parliament against Britain’s exit from the European Union on the fourth anniversary of Britain’s official departure from the European Union, in London, on January 31, 2024.
Future publishing Gety pictures
After the victory elections for the ground collapse last year, the current Labor Party government, and the Minister of Finance Rachel Reeves find themselves Under the increasing pressure to adhere to the rules it imposed on debts and borrowingWhile trying to increase public spending and enhance the growth that is needed.
“In the past, you can look at the United Kingdom and say, yes, it is no longer the largest economy in the world, but it is generally stable in terms of efficiency (in terms of) efficiency, so you invest in them. But these things are now in interrogation, and this is the great risks of the United Kingdom.”
Not everything
Barrett Copoleian, UK’s chief economist in PWC, was keen to point out that it is not everything as depression and torment for the capital in the long run.
If you focus on the basics that make London, Londonand The first thing is the rule of law, and then you have all the unfinished such as history, culture, diversity, talent, innovation, organization, time, functional, infrastructure, etc. These things have not changed in a huge way in the past few years. “
“We see that London actually has a quiet, stable and soft infrastructure, and companies are still here, which are large businesses in London, because of the quality of the organization,” he said. Copelian defended London’s position as a financial services center, but he said he was adapting and developing as well.
He said: “One of the things that happens in the background completely is that our goods exports are stagnant, and this is partially due to the trading environment that we face now, the definitions, and what you have … but services exports are growing strongly and many of them are led by business services.”
“We have always thought that FS (financial services) was the jewel of the crown in London, which, but in fact, in terms of growth rates, if you look at the export side from the professor’s book, many of them are led by business services,” he pointed out.
Canary Wharf seen from Greenwich Park, London.
Carl Hindun Moment Gety pictures
PWC, in conjunction with surveys, produced “Good growth for the City Index” annual What measures the economic welfare of British cities and looks beyond economic production, taking into account factors such as jobs, income, skills, balance between work and life.
In 2024 it found that although London is expected to see a strong economic growth in 2025, it has compared less positively with other British cities in terms of factors of living. This includes a lack of reasoning infrastructure at reasonable prices – as anyone on a hot and dirty central line tube and a guest in their morning transportation will witness.
No londoner loves a crowded tube train in the peak hour. Here is the central line during the model morning trip.
Nick Ansell – Pa Images | Pictures of the Palestinian Authority Gety pictures
“This is the story related to the rest of the country, but then what about the rest of the world?” He noticed Copenian, noting that “there has always been intense competition between the big cities in the world,” such as New York, Paris, Singapore, Beijing and Tokyo.
“I think London feels that competition is at a more intense level now,” said Copelian.
London said that describing “targeted interventions” instead of “fully innovation”, in a good position to continue to attract a talented and skilled workforce, business and growth.
“The companies are still here, which are big businesses in London, because of the quality of the organization. I think this is one of the main appeals in London. (Politics makers) must reaffirm these points and I only think that there is one thing that would be able to do so that there is one thing that could be able to do so.
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