London ranks Dubai as the top city for foreign investment in finance
London last year attracted more foreign investment in financial firms than any other city, demonstrating the Square Miles appeal to investors even after Britains separation from the European Union.
According to a report published by the City of London Corporation on Tuesday, the British capital attracted 4,600 million ($764 million) to invest in 114 financial and professional services projects by 2021. This puts it ahead of the likes of Dubai, Singapore, New York. and Paris.
Overall, the United Kingdom attracted 186 projects worth 11.1 billion in 2021, ranking second behind 234 attractions to the United States, the report said, detailing the value of investments guaranteed by other countries. Not to mention, its a reminder of financial sustainability. Its role as one of Britains most important exports.
Catherine McGuinness, City of London policy chair, said in her report: "We have to give this sector a future and ensure that we remain globally competitive."
The report says that by 2021, the number of financial and professional services packages attracted to the UK will increase by 8%. But with a 30 percent decline in foreign investment in finance and insurance between 2019, there is still a long way to go before the epidemic can reach preventative levels. And globally 2020.