London has always attracted professionals from around the world. As an economic and entrepreneurial hotspot, the capital has acted like a magnet for those looking to make their mark in the world. People have relocated to London and the fact that some of the world’s biggest and best known companies across finance, the creative industries and professional services ensures it will continue to attract the best.
Yet as the global economy has calmed down and in many case strengthened, many professional migrants have had their heads turned by different countries. The social network LinkedIn tracked members changing country for a recent survey. They found a 0.12% loss of professionals from the UK last year. The biggest gains were in the United Arab Emirates, Switzerland and Saudi Arabia where the population of professionals rose by 1.89%, 0.9% and 0.85% respectively.
Those professionals are moving around the globe. Those coming to the UAE mainly came from India. They were mostly looking for jobs in the professional services, in technology, financial services, and engineering. Those like the UK which saw a drop in the number of professionals as their populations looked elsewhere for work included the US, China, Spain, France and India.
The figures come on the back of a poll by the DeVere Group that suggested two thirds of Britons under 40 are considering moving overseas. The most popular places to go where New York, Cape Town, Dubai and Hong Kong, English speaking international business hubs.
As a provider of serviced apartments with a property portfolio across London, Clarendon has two core markets; British workers who are relocating to London from other cities in the UK and are looking for a temporary place to stay for an extended period of time, or a family relocating from overseas either on a fixed contract or looking for a home while they search for a more permanent base. Being part and parcel of that relocation industry, Clarendon keenly sees the impact London’s status as a global business hub has on its economy; it isn’t merely accommodation but also leisure, tourism, food and drink as well as providing a buzz and a vibrancy around London that comes from being an international city people want to live in.
London has to remain competitive if it is to continue to be an international powerhouse. It has to remain in the top of lists globally when asked where they want to live. To achieve that it has to attract the biggest companies to keep its economy strong and those companies need to know they will be able to attract the very brightest and best employees from around the world.
Liveability is a major factor in that attraction. London has to be an affordable place where people can live and enjoy their life and time in the city. It has to be welcoming, have a good mix of business and pleasure. There are always going to be other cities around the world that will attract investment, but London has to continue to play on its strengths and attract professionals from every economic strata, rather than those just at the top of it is to continue to be an economic global powerhouse.