Research reveals why London will continue to draw expats even after Brexit

by Ray Clancy on January 4, 2017

There may be concerns that London could be regarded as a less enticing location for expats when the UK has formally left the European Union but new research suggests otherwise.

It is great global city where more than 100 languages are spoken and a population that is set to continue rising whatever happens with the Brexit negotiations, according to the report from real estate firm CBRE.

london-ukIt points out that London has seen average GDP growth of 3.8% per annum over the last five years, faster than any other major European city and on the jobs front has seen 3% growth per year with the creation of six million jobs by 2036 expected.

London has the largest forex market in the world accounting for 41% of global turnover and half of the UK’s financial services GDP is generated in the capital city.

It is also a lively city with 400,000 students, over 9,200 cafes and restaurants, of which 66 have Michelin stars, 761 gyms, 200 museums and galleries, 241 professional theatres, and 520 hotels.

London is a city where 32% of Britain’s creative employment is located so it attracts people in the industry and is well known for its heritage sites, more than any other city in Europe, which include Tower of London, Kew gardens, the Palace of Westminster, and the Royal Observatory at Greenwich.

It is also regarded as a very green city with eight royal parks and 40% open green space, more than other great global cities such as New York City, Berlin, Paris and Amsterdam.

The sporting facilities are regarded as superb, part of the legacy from hosting the Olympic Games in 2012 and indeed London is the only city in the world to have hosted the summer games three times. It also has four football teams in the English premier league; Arsenal, Chelsea, Tottenham and West Ham.

‘Despite the uncertainties and turmoil of last 12 months, these findings highlight that London remains a major global city. With a robust economy and a world class offering of education, culture, creativity and heritage, London continues to attract a diverse and increasing population from all corners of the world,’ said Mark Collins, Chairman of Residential at CBRE .

He pointed out that currently London has 270 underground stations and with the promise of 40 more via Crossrail, London maintains its position as one of the very best connected cities, remaining fluid, accessible and entirely open to all its residents.

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