A new study suggests that London is the ideal base for businesses that wish to be competitive on a global scale.
The latest worldwide Open for Business report – a collaborative project between 25 large multinational companies – has pinpointed the top locations all over the world deemed to have the best working environments for businesses and their staff.
This year’s report has ranked businesses in terms of ‘economic competitiveness’ on a global scale and ‘inclusivity’ – two factors which study authors believe go “hand in hand.”
It argues that cities such as London, Amsterdam and New York are best for businesses that wish to compete on a global scale, as these cities are typically very diverse and LGBT inclusive, meaning that firms operating in them benefit from a greater concentration of talent and a more innovative and forward-thinking approach to business challenges.
The report ranked cities all over the world in ‘Tiers’ – similar to credit check reports.
London was awarded the top ‘AAA’ ranking in the report, alongside New York, Stockholm and San Francisco.
Meanwhile, cities such as Edinburgh and Frankfurt ranked highly, but were still placed a few Tiers lower than Britain’s capital.
A spokesperson on behalf of Sadiq Khan, the Mayor of London, said that the City was “working hard to break down barriers that too often prevent some people from accessing opportunities as well as acting on issues that matter to the LGBT+ community all year round.”
They added: “Sadiq is determined to ensure all Londoners can share in the capital’s success and to create an economy which works for everyone, regardless of their religion, gender identity, sexual orientation or background.”