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Why do so many people want to live and work in London?

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Despite the well-publicised fact that London is officially the most expensive place in the world to live and work, it doesn’t seem that too many people actually care. As of October 2014 the capital is also the most desired city in the world according to 200,000 job seekers.

 

One in six people from 189 countries surveyed would like to live and work in London, over fierce rival cities New York and Paris.

 

So what is it about this fast-paced, quirky, grimy, multicultural, astronomically expensive city that is so appealing to the professional masses?

 

Job opportunities

Business is booming in the capital. The home of Big Ben has approximately £92 billion worth of exports each year and has a GDP larger than the economies of Belgium and Switzerland. This economy brings with it an impressive array of job opportunities, particularly in retail, technology, manufacturing, financial services, media, recruitment and property development.

 

Everyone who’s anyone in the world of business has an office in London, with two in five of the world’s largest 250 companies choosing the city as their European headquarters.

 

So if your sights are set on an illustrious business career, a stint in London should definitely feature in your grand plan.

 

Salaries

There is no doubting London is an expensive city to live in, with the average house price a whopping £514,000.

 

Thankfully, this is somewhat balanced by the much higher salaries professionals in London enjoy compared to the rest of the UK. According to the Office of National Statistics (ONS) Londoners earn over £10,000 more (on average) than people in any other city in the UK, with average earnings of £41,000.

 

Diversity

London has a staggering diversity of residents. Most people from abroad flock to the capital rather than settling further afield in places such as Cardiff, Bristol or Edinburgh.

 

The city is comprised of an eclectic mix of nationalities, with many people hailing from India, Africa, France, Poland, Ireland, Scotland, America, South Africa, Australia, Germany and New Zealand.

 

This has led to the evolution of a highly diverse economy with a depth and breadth of job opportunities with small, medium and global businesses, meaning there’s something in London to please almost every job seeker.

 

Lifestyle

Most of us have heard the phrase “London is not England” which refers to the stark differences in lifestyle between city slickers and the rest of the country.

 

One obvious difference is the pace of life, with many Londoners struggling to balance highly demanding corporate jobs, family time and social engagements.

 

Offering an intimidating number of international eateries, pubs, clubs, theatres, museums, cinemas and shopping complexes, London certainly can’t be described as boring. Then there are the attractions coveted the world over including Westminster, the Tower of London, Tate Modern, the London Eye, Madame Tussauds, Kensington Palace and Camden markets.

 

Whatever your budget, London delivers a plethora of experiences almost as diverse as its harried residents.

 

The job opportunities, salaries, diversity and attractive lifestyle combine to make London one of the most desired places in the world to live and work, so if you are career focused, consider placing yourself at the heart of the business world.

 

Sonia works in Investigo’s part-qualified and transactional Accountancy & Finance division. She specialises in the placement of permanent, contract and temporary professionals within the media industry. Please call Sonia on 020 3009 3139 or email sonia.khanna@investigo.co.uk for a confidential discussion.

Sonia Khanna
Posted by Sonia Khanna
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