London ranks second in global city index despite Brexit

London has been ranked second in the Schroders Global Cities 30 index, despite the political and economic uncertainty created by Britain’s prolonged Brexit crisis.

Los Angeles retains the top spot in the index, which takes into account factors such as projected economic growth, disposable incomes in the next decade and population size. Hong Kong, New York and Boston make up the top five cities, with Paris the next European city in 17th place, then new entry in the index, Munich, in 28th. The strength of the US economy boosted US cities, with Austin, Texas coming into the top 30 for the first time. The arrival of Austin and Munich reflects their status as knowledge-based economic hubs.

Schroders co-head of global real estate securities Hugo Machin commented: “We produce the Schroders Global Cities 30 index each year to give us an edge in tracking the most successful cities of the future.” He added: “London has unmatched attractions, from green spaces to a vibrant cultural and entertainment scene. People want to live and work there and that means London can attract the world’s most skilled employees. London, like a number of other true Global Cities, remains at the centre of the global economy despite challenges surrounding Brexit.”