Evaluating London's Economic and Cultural Significance as a Global Hub

London is a global city due to its diverse population, tourist attractions, and role in international trade. Historically, London's population has fluctuated, but its hospitality and rich cultural history have always been attractive to tourists. As a major international trade destination, London benefits from stable financial institutions, a large labor pool, and supportive political will. Its strongest market connections are with China, the United States, and the European Union. London's extensive transportation network, temperate climate, and the River Thames further support its status. Cultural diversity, unique architecture, and a skilled workforce contribute to its competitive advantages in finance, real estate, and services. The city's infrastructure, including the underground railway, enhances accessibility. While Brexit may impact its economic future, London remains a prime destination for business and tourism, offering various leisure activities and a conducive regulatory framework.

(SUMMARY
London is considered a global city due to the diverse population its hosts. London is the
capital city of the United Kingdom and England. Noteworthy, it has various tourist attractions
and other qualities that make it irresistible to tourist and foreign trade. Previously, London was
occupied by the Romans before other groups of people came along. Before the 13TH Century,
London was known as Londinium.Since time in memorial, London city has always been
populous. As in the 2nd century, it was estimated that London was occupied by over a hundred
thousand people. However, the populous population has substantially reduced the Plaque during
the 17th century. However, the population recuperated towards the 18th and 19th centuries. The
hospitality of Londoners does not go unnoticed.
Noteworthy, London has a rich cultural history. This history has made it more attractive
to tourists due to the cultural practices, architectural buildings, and unique superstructure.
London’s history is shaped by the Roman Empire existence and the British Industrial revolution
whose effects directly impacted the city. In addition to being a tourist destination, London is
among the largest international trade destination. Primarily, London is the center of foreign
exchange transactions. In addition, the city is surrounded by stable financial institutions which
make international trade easily viable (Consultancy.Uk, 2016). Further, there is an adequate
supply of labor owing to the highly populous composition of the city and also the high
immigration rates into the city. The demand for foreign trade and the existence of supply factors
in the city of London makes it good for foreign trade (JLL, 2018).

In addition, the United Kingdom’s political will has made London as a business and
tourism destination possible. This is due to the fact that London is home to the United Kingdom's
parliament. Also, the United Kingdom’s government has implemented proper and adequate
infrastructure to support international and local business activities. Through its parliament,
business governing regulations and regulatory bodies have been put in place to facilitate and
encourage foreign trade (Smithsonian,2013). The political stability of the United Kingdom has
created a conducive business environment which has boosted the revenue of London as a City.
Majorly, London’s strongest market connections are with China, The United States of America
and European Union Member states.
London’s accessibility has been boosted by the implemented infrastructure. Specifically,
London transportation network is considered the largest in the world. The underground railway
transportation system has made public transport accessible and relatively affordable thus making
transit easier and faster. In addition, London has various buses, air transport and water transport
system which make accessibility easy and timely that boosts trade. Regarding, Climate,
London’s weather is temperate, relatively high temperatures, rare snowing and freezing spells
which is favorable for tourism and other activities. However, when it snows, ice skating is
possible and fun to do. London Winters are low with relatively warm temperatures. Physically,
London cuts across the River Thames. The River Thames is attractive as a port city and is ideal
for transportation of goods (Merk, n. d).
There are various resources that support the prestigious status of London as a global
business destination. .Cultural diversity makes London attractive for tourists (World cities
cultural forum, 2018).London enjoys a reputation for rich culture, unique building design, and
architecture which make London suitable for business and pleasure. The populous pollution is a

source of the readily available labor force which is ideal for business transactions. London
enjoys comparative advantages when it comes to financial, real estate and the service industry.
Also, the strategic River Thames facilitates transportation of goods in and out of London which
is advantageous for business. London’s competitive advantages stem from its location, access to
international markets, skilled taskforce and a conducive regulatory framework.London is an
international trading center for the most foreign transaction.
Also, London is endowed with various superstructures such as the underground tunnel.
The underground railway tunnel is not only unique but it is the largest in the world (Global
Alliance of SME’S,2018). The underground tunnel has made public transportation easy and
convenient.Not only is the tunnel a form of public transport but also a tourist attraction. In
addition, London is a center for political, social and economic activity. London being the center
of political activity is because the United Kingdom’s parliament is stationed in London. The
infrastructure in place in London has made the city accessible and ideal for business, both local
and international. London’s infrastructure is considered the largest, in terms of public
transportation means, the underground railway network.
Recently, Britain opted out of the European Union. This event could have adverse
impacts on the economic future activities of London and other Britain territories. This is due to
the fact that London major export destination was the European Union.(Office for national
statistics,2018).Alongside the European Union member states, China and the United States of
America are London’s top trading partners. The future of London economic revenue might be
slightly affected by this move.London is the perfect international business and tourist destination
owing to the fact that it has a conducive environment for both Pleasure and business. Moreover,
there are social and special events such as the Wimbledon, which is considered a historic sports

event. Other entertainment activities include ice-skating, carnivals, parades, swimming, and
birdwatching, gaming and gambling facilities among other activities for entertainment.
All in all, the importance of London as a city to its country and to the rest of the world
cannot be ignored. London is the definition of an international destination for vacationing and
getting business done. This is due to the factor that London has the best enabling environment
for international businesses, political stability and will, rich cultural background, superstructure,
better infrastructure and superstructure that make the city accessible, leisure activities and
facilities are in place and an effective legal regulatory framework for international trade
transactions. Skilled labor force and ready market for its product and services give London a
comparative advantage over other cities partaking in the same trade. Not only is London an
international business destination but also an international tourist destination. However,
following the Brexit Vote, there might be some economic revenue changes to London’s export
revenue.

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