finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

London is just as beautiful in the winter, as it is in any other season and all 30 million tourists that flock to the UK’s capital every year will probably agree that it is one of those cities which offer something for everyone. Pack a warm coat and an umbrella and book your trip to this ever-changing metropolis which promises to make you fall in love with its beautiful, bustling streets – even in January!

London is one of the most visited cities in the world and as such, its hospitality industry is brimming with everything from small boutique stays to a myriad of luxury hotels. So when we think of where to stay in London, it’s safe to say we’d want something unique – something that you’d be hard pushed to find in any of the other hundreds of options. With its ridiculously convenient location -  directly opposite St James’ Park tube station, less than a 10-minute stroll from the Houses of Parliament, and a short walk to Trafalgar Square – choosing to stay at Conrad London St James is definitely a decision you won’t regret. A luxury brand of the Hilton chain, with hotels in 35 different cities across the world, Conrad Hotels provide their guests with everything they could possibly desire. The rooms and suites at Conrad London St James are just what you’d expect of a five-star luxury hotel: big King-sized beds, comfortable living areas and spacious brown-marble bathrooms. If you stay at one of the executive rooms, a suite or if you’re a Diamond Tier Hilton Honours member, you’ll be granted access to Conrad London St James’ executive lounge where you can enjoy complimentary drinks during the day, as well as a private breakfast buffet, afternoon treats, afternoon tea, as well as evening canapés and alcoholic drinks. Soak up tranquil vibes, whilst sipping a coffee or stop by for a quick aperitivo before dashing to dinner.

London is one of the most exciting and diverse restaurant capitals in the world and Conrad London St James’ ideal locations means that you’ll be in close proximity to an impressive array of exceptional restaurants and bars. However, make sure you leave time for a meal at Blue Boar Restaurant in the hotel, too. It focusses predominantly on staples like steaks and burgers, but there’s plenty of other options too like a selection of seafood dishes (the pan-roasted halibut with Jerusalem artichoke, toasted hazelnut, truffle, herb crust, baby leeks, wild mushrooms & red wine jus is to die for), as well as a selection of fresh salads. And after dinner, pop into Blue Boar Bar for a politically-themed cocktail; how about a gin-based ‘Corbyn’s Reign’ or a ‘Theresa’s Kitten Heels’ which comes with vodka, blue curaçao, lime, sugar syrup and prosecco?

Breakfast is served at Blue Boar Restaurant too – it comprises an extensive continental buffet which offers all the classics, as well as an à la carte menu. For another taste of British culture, head to Emmeline’s Lounge (named after British political activist Emmeline Pankhurst), where you can indulge in a quintessentially British afternoon tea or a Champagne brunch.

If you’re travelling to London for work, Conrad London St James also offers an impressive business centre and numerous function rooms.

 

For more information and to book your stay, please go to www.conradhotels.com/london

Located in the City of London area, just a 10-minute walk from St Paul's Cathedral, Apex Temple Court Hotel offers surprisingly quiet rooms for its central location and is a place where you can unwind and recharge after a busy day of meetings. Once you walk through its doors, you enter a peaceful courtyard which immediately feels miles away from the hustle and bustle of London. This is where you can find the alfresco area of Fleet Street’s newest wine bar, The Amicable Society of Lazy Ballerinas. Offering an extensive selection of old and new wines, a menu of scrumptious small plates perfect for sharing and ultra aesthetically pleasing décor, the bar attracts both hotel guests and Londoners popping in for an after-work drink. There are also two private dining rooms, both offering seating for 16 guests, or alternatively, 30 guests for a drinks reception, which can be booked for meetings, events or wine tastings.

Across the courtyard, you’ll find the hotel’s Club Lounge, a relaxed place where you can have a casual business meeting or bring your laptop and work, and Chambers Restaurant, where breakfast is served. Start your morning with continental staples and cooked-to-order classics like Full English, Eggs Benedict and pancakes and come back for lunch or dinner – the a la carte menu offers everything from steaks and burgers, through to lighter options like fish and salads.

For a real taste of luxury, stay at one of the hotel’s suites. Home to every indulgent touch you desire, they boast impressive period features including beautiful fireplaces, huge, squishy beds, a cosy living area and a luxurious, marble bathroom with a walk-in shower and bathtub, complete with underfloor heating and bespoke furniture. With Bang & Olufsen Bluetooth speakers, a vanity mirror TV in the bathroom and two more LED TVs (one in the bedroom and one in the living room), you are spoilt for choice when it comes to entertainment. And if this isn’t enough, thoughtful touches like complimentary arrival drinks, a Nespresso Vertuo coffee machine, Temple Spa products and free-of-charge drinks and snacks at the Club Lounge which all suite guests enjoy exclusive access to will make your stay truly special.

For more information and to book your stay, please go to https://www.apexhotels.co.uk/apex-temple-court-hotel

With the current average UK rent at £934 per month according to HomeLet, Bunk looked at what you can typically get for between £900-£1,000 and how it differs across the UK.

Studio flat, Brixton - £900 pm

Of course, £1,000 won’t get you much in London space-wise, but it will get you a studio flat in either South Kensington’s sought-after Gloucester Road, above Walthamstow’s famous Bell pub or in a gated Tudor style development in Brixton fit with a private pool.

One-bed terraced, Cambridge - £950 pm

In Oxford, you could secure a one-bedroom terraced house with scenic country views for £1,000 and in Cambridge you could also pick-up the same sized property for £50 less a month.

One-bed apartment, Granary Wharf, Leeds - £950pm

If you prefer apartment living, you can snap up a one-bedroom apartment in Gordondale House in Aberdeen, the Royal Parade in Bristol, the Mailbox in Birmingham, Granary Wharf in Leeds or the 32nd floor of the 47-storey Beetham Tower in Manchester.

Two-bed apartment, Mann Island, Liverpool - £950pm

If you’re looking to up your property potential and add another room, a budget of £1,000 can secure you a two-bed apartment in Liverpool’s waterfront Mann Island development, Nottingham’s historic Lace Market conversion, Sheffield's Victoria Quays, the unique Exchange building in the heart of Leicester, Clarence Parade in Portsmouth, a sea-front view in Bournemouth’s Honeycombe Chine, Cardiff’s old flour mill building Spillers and Bakers, Castle Chambers in Glasgow or Swansea’s Maritime Quarter.

Two-bed duplex, Oxford Street area, Southampton - £980pm 

Or, a similar budget would secure you a two-bed duplex in a grade-II listed building in Southampton’s trendy Oxford Street area, or a two-bed terraced with traditional features in Edinburgh’s Rosebank Cottages.

Four-bed terraced house, Lancaster Street, Edinburgh - £1,000 pm

Finally, for a budget of between £900-£1,000, you could rent a three-bed apartment in Compass House, Plymouth, fit with balcony and view of the marina, or a four-bed terraced house in Newcastle, close to Science City and the university.

Co-founder of Bunk, Tom Woolard, commented: “The UK rental market is home to a wide and wonderful variety of properties to suit all styles and it’s interesting to see just how the stock available differs when you take the same monthly budget and apply it to the various regional cities across the nation.

"Of course, you get a lot more property for your money when you look to the more affordable areas but that doesn’t mean you can’t find something with a bit of personality even in the likes of London, Oxford and Cambridge.  

"All too often, the speed at which property can let means that many tenants will settle for the first thing they find and are able to put a deposit on, but it can make a real difference to your life satisfaction in the rental market if you are able to find a property that you love to live in, rather than one you just choose to live in.” 

Location Example Property Monthly Rent Property type
London South Ken - studio £920 Studio flat
Bell pub - Walthamstow £900
Tudor style - Brixton £900
Oxford Sunflower cottage £1,000 1-bed terraced house
Cambridge Grafton street £950
Aberdeen Gordondale house £1,000 1-bed flat/apartment
Bristol Royal parade £950
Leeds Granary Wharf £950
Birmingham The Mailbox £975
Manchester Beetham Tower £995
Liverpool Mann Island £950 2-bed flat/apartment
Nottingham The Lace Market £1,000
Sheffield Victoria Quays £980
Leicester The exchange £900
Portsmouth Clarence Parade £900
Bournemouth Honeycombe chine £950
Cardiff Spillers and Bakers £925
Glasgow Castle Chambers £950
Swansea Maritime quarter £900
Southampton Latimer gate £980 2-bed duplex
Edinburgh Rosebank cottages £925 2-bed terraced house
Plymouth Compass House £1,000 3-bed apartment
Newcastle Terraced science city £1,000 4-bed terraced house

The Business Show, which is sponsored by Yell, Dell & American Express is Europe’s largest B2B exhibition. The show attracts over 20,000 visitors from all over the world who are looking for new & innovative products and services, which will help them to maintain, grow & develop as a business.

The Business Show will be taking place on the 27th & 28th of November at The London ExCeL. They have 400 exhibitors from the likes of Cranfield School of Management, Intellectual Property Office and Your Business Community Ltd. As well as this, we have a great list of masterclasses one of which is hosted by Barclaycard this year.

This November will see over 200 seminar sessions and our best keynote line-up to date take the stage for 2 days. Make sure you don’t miss out on this world-class event and register here for your free tickets today.

With huge, squishy beds and views across the beautiful Houses of the Parliament to the right and the River Thames to the left, the rooms at Park Plaza Westminster Bridge are spacious, sharing a restful, simple colour palette with touches of red here and there and a classic collection of furniture. Business guests are well looked after with free wifi, espresso machines and a desk in each room. As with the bedrooms, the ground-floor lobby is simple in style but feels very contemporary and cosmopolitan.

An important factor to consider when choosing a business hotel in London is its food offering and Park Plaza Westminster Bridge certainly does not disappoint in this regard. Head to either the award-winning Brasserie Joël or the popular Ichi Sushi & Sashimi Bar for a formal meal, or have a quick bite before your next meeting at Primo Bar. And if you are too tired to make it to dinner, do not fret – the hotel also offers 24-hour room service. In case you need a little pick-me-up before dashing out the door, grab an expertly crafted Italian coffee from illy Caffè to bring with you.

There’s nothing quite like coming back from a day of long meetings to a hotel that has a spa and Park Plaza Westminster Bridge’s gorgeous Mandara Spa promises to help you escape from the hustle and bustle of London and switch off completely. The décor takes inspiration from the island of Bali and offers an extraordinary range of treatments and products from Mandara Spa, ELEMIS Face & Body Therapies and CND Nails and Waxing. For those who like to keep active during a work trip, the spa also offers a state-of-the-art gymnasium.

With its 32 conference rooms to choose from, which include the signature 1,200 sqm pillar-free Westminster Ballroom (which can host up to 1,350 diners or 2,000 delegates theatre-style), Park Plaza Westminster Bridge is undoubtedly one of London's leading meetings venues. The outstanding Ballroom comes with removable walls, integrated pin-spot lighting, a heavy goods lift, private bar and a dedicated meeting planner's office. The hotel also offers two smaller suites – Plaza and Park Suites – which can accommodate up to 1,000 guests and include a dedicated foyer and Business Centre. On top of this, more intimate boardrooms for up to 24 attendees can be found on each floor of the building.

For more information or to book your stay or event, please go to: https://www.radissonhotels.com/en-us/hotels/park-plaza-westminster-bridge-london?cid=b:gmb+c:emea+e:pph+d:cese+f:en-US+h:PPWL#

Set right next to Mansion House station, Vintry & Mercer creates a feeling of grandeur mixed with a little millennial quirkiness. Every little detail is extremely aesthetically pleasing, whilst the ambience is so relaxed and refreshingly un-corporate that it feels more like a luxurious modern home than a hotel right in the middle of London.

Opened in February this year and named after the two commercial wards on the hotel's doorstep (Vintry where fine wines would be delivered from France and Mercer which is the former haunt of noble merchants who traded in high-quality silks, damasks and linens), the hotel’s lavish décor celebrates London’s trading links. Fusing the past with modernity, the 92 sumptuous bespoke rooms and suites (which come in 5 categories) take inspiration from Mercer and feature deep blue, maroon or mustard-coloured velvet headboards, leather door handles, framed London street maps and wallpapered walls. A flatscreen TV, minibar, tea and coffee facilities and an exquisite marble bathroom finish off each room, making it so cosy and homely that leaving it for the hustle and bustle of London feels like a ludicrous idea. And if you do decide to simply stay in, the rooms have a ‘do not disturb’ button (as well as a ‘make up my room’ button) instead of a card to hang on the door – we did warn you that the hotel is brand new and super modern.

For dinner, head down to the ground floor where you’ll find Vintry Izakaya - an Asian tapas eatery where wine plays an important part and is poured straight from large barrels lining the gantry. The menu oozes with bold Asian flavours and offers anything from classic steamed buns and shrimp tempura or Wagyu katsu sandos, through to more inventive dishes like beef rib teriyaki arancini or kimchi and blue cheese fries. Our personal favourites were the miso and sesame seeds Padron peppers and the cooked to perfection sweet miso glazed aubergine. The saddest thing about tapas dinners is that you often order so many small plates of food to share that you could potentially end up feeling too full for pudding, which is a pity when the restaurant offers dangerously inticing desserts like Vietnamese espresso mousse or matcha Opera cake with berry sorbet. All is well though – I suppose this would be a good enough excuse to visit again and hopefully order less this time around. Breakfast is also served at Vintry Izakaya and comprises of a continental buffet and cooked-to-order dishes like traditional full English, but also Asian options like eggs Florentine on steamed bao buns.

After dinner, move to the dimly lit Do Not Disturb cocktail bar inspired by the clandestine bars of 1920s New York and finish off the night with a barrel-aged glass of Manhattan.

Most wow-worthy, however, is Vintry & Mercer’s rooftop terrace and the stunning views it boasts. Filled with light thanks to the glass-panelled roof, the restaurant promises to be a popular dinner spot for Londoners this summer. The menu focusses on modern British cuisine, introducing guests to fresh meat and fish from the British Isles. Dishes include mouth-watering Cornish crab, British asparagus, oysters and lobster, as well as hay-smoked beef tartare and Tomahawk steaks. The atmosphere is vibrant and lively and the décor is ridiculously instagrammable.

For those willing to break a sweat after all the beautiful food on offer at Vintry & Mercer, the hotel also has a small gym equipped with the latest Life Fitness workout equipment — a treadmill, exercise bike, cross trainer and rowing machine, as well as an integrated digital screen with Internet access and an iPhone dock.

And if you need any more reasons as to why Vintry & Mercer needs to be your home away from home when you next visit London (not that you probably do), the newly-built hotel is functioning solely on renewable electricity, sourced from wind, solar and biomass generators. It has solar panels on the roof toe, ensuring a minimal effect on the environment.

 

For more information and to book your stay, please go to https://www.vintryandmercer.com/

Following, we are going to explain the trends that led to this massive change and what it means for young buyers.

1.  Ripple Effective

The successive cycles introduced in 1970s consist of economic houses where the property value increases first in London, this wave then goes south easy and other reasons. London always stayed at the front. However, the percentages were not always impressive.

Prices of houses in London have bee n doubled in North (Yorkshire, and Humberside).

2.  Income Growth

There have been some changes in regional prices. These are influenced by national factors like low interest rates and an increase in real incomes. The real incomes have had an impact on house prices. A 1% increase in real income will lead to a 2% increasing house prices. This is because households can afford to pay a bit more. This way, the house prices show a bit more volatility than the respective income.

3.  Supply, Demand and Other Patterns

Recently, there has been poor income growth in London. This shows that England is operating in a weak national housing environment. But it doesn’t show the regional price pattern. Internal migration patterns, supply shortages, higher demand in London also have their impact.

It's important we look closely at the southeast and see how outer London relative to inner London and South-East is as a whole. We need to focus on areas that aren’t very distant from each other. Recently, more people left London than the ones who entered it. London has attracted young people recently, but some older groups have left the city. This loss declined until 2009 but peaked once again, especially in 2016-2017.

This pattern is rather consistent and is leaving an effect on real estate prices. As a high proportion of people are leaving London to settle someone where else, there will be a fall in house prices in London as compared to the South East in the past two years.

In case if you are a young professional and looking for accommodation, you should try to find flats to rent in Edinburgh. CityLets.co.UK is a certified leading property portal that enlists properties for rent all around England. This site has been helping people finding ideal accommodation since 1999.

4.  Types of Property

The price for different types of properties increased and decreased in different patterns. Families can easily move to different locations as they can easily adjust into a different type of property.

With that said, its time we discuss the differences between prices of terraced properties in inner and outer London. This shows the inner London real estate market suffered from a drop-in value. This is once again consistency with Households moving to expensive inner regions.

5.  Investment Opportunities

Migration flow isn’t the complete story. The southeast is also suffering from shortages, but it’s time we discuss the monetary environment and low interest rates.  Housing in London is included by its role as an investment along with being a consumption good.

Investment motives for buying housing are important in other areas, but London has some special characteristics. Prices in London are more responsive to changes in interest rates than anywhere else.

Speaking of falling prices, the average flat in London costs more than £400,000. The average flat in south-east costs £200,000. Even if we ignore the massive difference, this is still beyond the resources of most first-time buyers unless they have strong additional support. In short, the price falls will unlikely to benefit first-time buyers.

According to Tony Smith, MD of Business Expert, for the most part, London has bucked this trend by beating even Silicon Valley to becoming the global Fintech hub. The historic financial centre has welcomed thousands of startups via progressive regulation, a forward thinking consumer market for tech products, and a central European location.

With the shadow of Brexit causing mounting uncertainty in the business community, the question of whether London can retain its title as the Fintech capital is becoming a talking point. More than almost any other industry, the ability to scale Fintech companies relies on access to global talent pools and, with post-Brexit employment laws still uncertain, many fear Britain is going to lose one of its greatest financial assets.

European Capitals Mop Up Fintech Exodus

While Theresa May struggles to push through her Brexit plan, other countries have been busy rolling out the red carpet with tax incentives and easy access to funding as a means of luring potential Fintech talent while the going is good.

Paris is one example of this. Sharing London’s historical reputation as business centre, Paris already hosts banks and large insurance companies, alongside a workforce rich in engineers and data scientists. Efforts are being made to entice tech talent via smoother regulation and a city-wide focus on AI training courses.

The German capital, Berlin, is another contender. Berlin is actively promoting Fintech relocation with it’s slogan ‘Keep Calm Startups and Move to Berlin.’ With cheap commercial real estate, governmental funding support, and 100 Fintech startups already placed, Berlin is likely to benefit widely from the political situation in the UK.

Tallinn, Estonia, while smaller than the major capitals, already has the third highest concentration of startups in mainland Europe. Tallinn is now benefiting from the efforts of the post Soviet government who recognised that technological education could drive the economy of the future. Estonia now has one of the most tech-savvy workforces in the world.

London still has a lot to offer

Despite the Brexit gloom, many pundits are at pains to point out that London is by means on the ropes just yet. In addition to its position as one of the world’s financial centres, a number of universities specialising in artificial intelligence have added to its hub status.

At the recent Amsterdam Money conference, London’s Deputy Mayor for Business, Rajesh Agrawal commented: “London is the greatest city in the world, and it’s no wonder that so many financial tech companies proudly call it home. As a fintech entrepreneur myself, I know that London has the right mix of clear regulation, world-beating talent, and a massive customer base to make it the international fintech capital.”

There is no denying that the traditional role of FDs and CFOs is changing. As a finance professional, you will appreciate that the finance function is becoming an increasingly multi-faceted profession with responsibilities expanding into ever more varied aspects of the business – and this is particularly true for those working within the UK’s SMEs.

On the 15th-16th May 2019 at the prestigious London Montcalm Marble Arch, the Finance Leaders’ Summit offers a unique conference dedicated to finance professionals with an SME-focused agenda. The speakers will delve into the challenges and issues facing finance leaders and their increasing role diversity with a focus on ‘Leading the Finance Function through Change and Innovation’.

Hosting FDs and CFOs from across the UK, join them as they come together to discuss the most pertinent topics and challenges facing your industry right now, including:

Head over to our website or email fls@realdealsmedia.com to register for your delegate pass today.

Want an exclusive preview of our speaker line-up? Download our complimentary ebook to hear what our headline speakers are saying about ‘Transformative Times for the Finance Function and its Leaders.’

FDs and CFOs may be eligible for one of our discounted delegate passes. Email fls@realdealsmedia.com for more details and to apply.

Website: http://bit.ly/2Uc2HU6
ebook: http://bit.ly/2FSvAee
Brochure: http://bit.ly/2FOfUsl

Nowhere across London is more unaffordable than Kensington and Chelsea and Knightsbridge in particular and rental costs in the borough are some of, if not the highest in the capital having increased over 23% since 2012.

But since June 2012, Julian Assange has managed to not only live rent free in prime central London, Harrods adjacent and just minutes walk from Hyde Park, but dodge any increase in living costs associated with renting.

The current average rent for a room in Kensington and Chelsea is £1,928 a month and while he may have been forced to pay for the upkeep of his cat, by claiming refuge in the Ecuadorian embassy over the last seven odd years, Assange has saved a huge total of £148,381 - an average of £1,810.

Tom Gatzen, co-founder of leading flatshare platform ideal flatmate, commented: “We’ve seen the capital’s tenants resort to some drastic measures to deal with the cost of renting in London but I think Julian Assange takes the gold for his commitment to a cost effective lifestyle in the London rental market. 

"It doesn’t seem all that long ago that he entered the Ecuadorian embassy but to think in the time since, the average tenant in Kensington would have paid £150,000 in rent for just a single room, which is actually quite mind boggling.  

"Of course, Kensington sits at the top of the table where rental costs are concerned but it does go to show how the cost of renting in London continues to spiral out of affordability for many.

"While Julian’s saving has been notable the harsh restrictions around leaving the property and the immediate eviction process that he underwent probably weren’t worth it. We would have recommended using ideal flatmate so he could have not only split the cost of living in London, but our personality test could have matched him with like-minded roommates.

"If the Ecuadorian embassy is at a loose end with the now empty room, we can certainly help them fill it with a suitable tenant that will bring less media attention and contribute to the monthly living costs.”

Single Room Rent in Kensington
Month Average monthly Rent
Jun 2012 £1,565
Jul 2012 £1,565
Aug 2012 £1,565
Sep 2012 £1,565
Oct 2012 £1,565
Nov 2012 £1,565
Dec 2012 £1,565
Jan 2013 £1,644
Feb 2013 £1,644
Mar 2013 £1,644
Apr 2013 £1,644
May 2013 £1,644
Jun 2013 £1,644
Jul 2013 £1,644
Aug 2013 £1,644
Sep 2013 £1,644
Oct 2013 £1,644
Nov 2013 £1,644
Dec 2013 £1,644
Jan 2014 £1,753
Feb 2014 £1,753
Mar 2014 £1,753
Apr 2014 £1,753
May 2014 £1,753
Jun 2014 £1,753
Jul 2014 £1,753
Aug 2014 £1,753
Sep 2014 £1,753
Oct 2014 £1,753
Nov 2014 £1,753
Dec 2014 £1,753
Jan 2015 £1,831
Feb 2015 £1,831
Mar 2015 £1,831
Apr 2015 £1,831
May 2015 £1,831
Jun 2015 £1,831
Jul 2015 £1,831
Aug 2015 £1,831
Sep 2015 £1,831
Oct 2015 £1,831
Nov 2015 £1,831
Dec 2015 £1,831
Jan 2016 £1,913
Feb 2016 £1,913
Mar 2016 £1,913
Apr 2016 £1,913
May 2016 £1,913
Jun 2016 £1,913
Jul 2016 £1,913
Aug 2016 £1,913
Sep 2016 £1,913
Oct 2016 £1,913
Nov 2016 £1,913
Dec 2016 £1,913
Jan 2017 £1,900
Feb 2017 £1,900
Mar 2017 £1,900
Apr 2017 £1,900
May 2017 £1,900
Jun 2017 £1,900
Jul 2017 £1,900
Aug 2017 £1,900
Sep 2017 £1,900
Oct 2017 £1,900
Nov 2017 £1,900
Dec 2017 £1,914
Jan 2018 £1,928
Feb 2018 £1,928
Mar 2018 £1,928
Apr 2018 £1,928
May 2018 £1,928
Jun 2018 £1,928
Jul 2018 £1,928
Aug 2018 £1,928
Sep 2018 £1,928
Oct 2018 £1,928
Nov 2018 £1,928
Dec 2018 £1,928
Jan 2019 £1,928
Feb 2019 £1,928
Mar 2019 £1,928
Average £1,810
Total £148,381
Change 23.20%

Earlier this month Z/Yen published their global financial centres index which stated that for the first time in 15 years, New York has overtaken London as the world’s top financial centre. The report focused on a number of factors including infrastructure and reputation and was combined with a survey to show the most attractive financial cities. To follow on from this, job search platform Joblift looked into the financial job markets in both London and New York to find out if these results matched or contradicted the Z/Yen conclusions. While New York may have become the most attractive worldwide financial centre, Joblift’s results show that the crown still lies with London when it comes to job availability and growth.

London has more than twice the number of vacancies and three times as much job growth

According to Joblift, 124,788 financial job vacancies have been posted in London in the last 12 months. In comparison, New York has been the location of 49,526 financial vacancies in the same time period, around 2.5 times less than in the UK’s capital. To further bolster London’s claim as the financial job market top spot, vacancies in the capital have increased at three times the rate of New York’s. While the US city’s financial job market increased by 1% each month on average in the last 12 months, London’s market saw a 3% average rise.

Both cities share the most in-demand professions and top employers but vacancies in new york were more secure

Despite the differences in number of vacancies and job growth, the financial job markets in the two cities have a lot in common. Accountants are the most in-demand professionals in both cities, making up 12% of the job market in London, and 9% in New York. They are followed by Finance Managers in London (11%) and Economists in New York (6%), with these professions switching in each location as the third most in-demand – Economists in London (4%), and Finance Managers in New York (6%). Additionally, while not in the same ranking order, JP Morgan, Goldman Sachs and Morgan Stanley were the top employers in both New York and London. However, while the same professions are in demand, jobs in New York were more secure. In the last year, 87% of the finance vacancies advertised in New York were for permanent contracts, while postings offering the same contract type in London made up just 75% of the capital’s financial market.

(Source: Joblift)

Dubai and Abu Dhabi in the United Arab Emirates (UAE) could soon join London, New York and Hong Kong in the world’s top 10 global financial centre rankings, thanks to new government laws affecting expatriates.

This is the bold message from Nigel Green, the founder and CEO of deVere Group. The observation comes as the UAE cabinet on Sunday approved new legislation that allows expatriates to remain in the country long after they retire.

Mr Green affirms: “Dubai and Abu Dhabi are perennially popular destinations for ambitious expatriates looking to embark upon or further their careers because of the incredible possibilities offered in terms of finance, trade and commerce, plus the famous ‘can do’ attitude and the low tax environment in these destinations.

“But they will become even more attractive locations for overseas talent thanks to the government passing these new laws that allow expats to stay on in the UAE long after they retire.”

He continues: “With Dubai and Abu Dhabi becoming ever-more appealing relocation destinations, recruiting more top talent here will inevitably become easier for companies that are based in these emirates.

“In addition, I believe that it will help drive further driving confidence in the UAE as a place for overseas firms to do business and invest.”

Mr Green goes on say: “Dubai is already recognised as one of the most powerful financial centres in the world. But this new legislation will not only galvanise this position, but significantly strengthen it.

“This confirms my view that over the next decade, we can expect it to become one of the world’s top ten international financial hubs to rival and more aggressively compete with stalwarts such as London, New York and Hong Kong.

“Dubai and Abu Dhabi are helped in this regard by having an independent regulator, an independent judicial system, a global financial exchange, a stable, pro-business government, a high proposition of high net worth individuals, a dynamic business community, world-class infrastructure and telecommunications, English as its defacto business language, and their enviable geographical location and time zone.”

The deVere CEO concludes: “We fully welcome this progressive policy shift by the UAE government. It will encourage even more people to come, stay and invest for the long-term in the country, which will further boost its sustainable economic growth.”

Earlier this year, Dubai was revealed as the number one city for graduates seeking a career in financial services, whilst London didn’t make the top ten, in an annual deVere Group survey.

Of the findings at the time, Mr Green noted: “This survey highlights that the next generation of financial services professionals are open to look beyond the traditional and more established global financial hubs.

“It underscores how cities like Dubai, Barcelona and Cape Town are increasingly important international financial centres.

“The fact that Barcelona this year is second-placed and London – currently the world’s most important global financial hub – does not make the top ten is interesting.

“Could it be that the respondents believe mainland Europe’s international financial centres offer more opportunities than post-Brexit London?”

(Source: deVere Group)

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free weekly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every week.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram