London has been named as the most popular city in the world for work in the largest ever analysis and survey of the trends in workforce migration, however, the popularity of the United Kingdom as a whole has declined.
In the large survey of approximately 366,000 overseas workers from almost 200 countries, the capital beats Berlin, Barcelona, and New York as the destination of choice, retaining the top spot that it was able to secure when the study was first carried out on a much smaller scale around four years ago.
The study was conducted by the Boston Consulting Group (BCG). It says that the prominence of London as a global financial, business and cultural capital does not seem to have been affected by Brexit.
Sadiq Khan, the Mayor of London, stated: “London is without a doubt one of the best places in the world to live and work and it is fantastic news that our message that London remains open for business is being heard loud and clear.”
The international director at totaljobs, Mike Booker, stated: “While the UK may have lost some of its lustre, London remains the number one destination for talent worldwide, post-Brexit.” Booker supported the research.
According to the study, the top five global cities for workers are London, New York, Berlin, Barcelona, and Amsterdam.
However, the said survey also show that that the United Kingdom has declined from being the second most popular country worldwide for overseas workers, when the same survey was first carried out in 2014, to being only in the fifth place today.
The United States, Germany, Canada and Australia all now have ranks that are higher as compared to the United Kingdom in terms of attractiveness.
Nick South of BCG stated: “Despite London’s enduring appeal, the UK as a whole has become less attractive to international workers.”
He added: “At the same time, British workers’ willingness to work abroad has significantly increased, from well below average in 2014 (44 per cent) to above average in 2018 (62 per cent).”
South continued: “This is the largest increase seen in any country globally. Together, these two trends create a major challenge for the UK…to attract and retain top-class talent.”
The said survey revealed that almost three-quarters of those who are under 30 years old (73 percent) are ready to move abroad, as well as those who have advanced degrees (72 percent) and those from job roles that are related to technology, IT, and research (67 percent).
The news of the dominance of London comes only a few months after the City was able to retain its number one spot in the Global Financial Centres Index, which revealed that the City is successfully fighting off the competition from Hong Kong, Singapore, and New York for the most attractive and competitive business environment.
London First, a lobby group, welcomed the said findings. However, it cautioned: “We’ll need to work extra hard, business and government together, hand-in-hand with other regions of the UK to secure our future: by getting a fair immigration system that works in place, investing in home-grown skills and immediately unlocking key decisions and investments in infrastructure and housing.”