BusinessCompany NewsLondon ranked as world’s six largest city economy

London ranked as world’s six largest city economy

New PwC survey predicts capital will rise to fourth biggest by 2020

Despite facing challenges from fast-growing cities in emerging markets,
London’s status as one of the
top city economies of the world looks set to continue and improve, according to
new research published in the latest
UK
Economic Outlook
by PricewaterhouseCoopers.

PwC found that London was the sixth largest city economy in the world by
estimated GDP at purchasing power parities in 2005, but should rise to fourth
place by 2020, overtaking Paris and Chicago.

Tokyo, New York and Los Angeles are expected to be ahead of London in 2020,
but London’s economy is projected to grow faster than any of these cities,
driven in particular by strong growth in business and financial services.

At present, the mega-cities of the major developed economies continue to lead
the global
GDP rankings
, with the top six in 2005 being Tokyo, New York, Los Angeles,
Chicago, Paris and London.

Further reading:

Treasury to promote London as Islamic finance centre

London a top destination for IPOs

City boss says London ‘must stay competitive’

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

4m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

8m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor