Brexit Drops London From No. 1 To No. 6 In JLL's Ranking Of Most Dynamic Cities In The World

For two years, London led the world in tech innovations, growing populations and strong socioeconomic attributes. But no longer.

The city ranked No. 6 in JLL’s recent City Momentum Index, an annual report that tracks the rapid economic expansion and growing commercial real estate markets of 134 cities throughout the world, taking into account gross domestic product, population, corporate HQs, commercial real estate fundamentals, property prices and more.

Despite all of the political uncertainty facing the UK following the vote to split with the European Union, London remains one of the world’s top business hubs — though there is speculation that a hard Brexit will spur banks and financial corporations to shift their headquarters to Germany or Dublin. London's strength in tech, innovation and education kept it within the top 10, JLL reports.

Dublin also made it on the CMI list, though not within the top 10. (It came in No. 28.) The city continues to receive strong direct foreign investment, and has healthy tech credentials and a growing population.

Locations within the U.S. that made the top 10 include Silicon Valley (No. 3), Austin (No. 7) and Boston (No. 9) — each of which has among the highest concentration of tech companies in the world.

These places not only provide attractive commercial property investment opportunities, but they also set the bar for several future trends, including tech innovations within the digital and sharing economy and tackling climate change within urban locations.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's London Newsletters
Related Stories

Why Hines Is Restarting Its Development Engine

Pinewood Studios Pays Owners £100M Dividend And Completes £300M Refinancing

Deutsche Bank Takes 5 Floors At Oaktree And Quadrant's Canary Wharf Scheme

Ashley's Frasers Sets £20B Real Estate Acquisition Target

Billionaire Buys Into BTR With £150M Deal

Liverpool Tops The Premier League (Of Property Price Rises)

100% Of European Asset Managers Hold Stranded Assets. So Why Aren't We Fixing Them?

Plans Submitted For Massive 1.1M SF Canary Wharf Office Retrofit

Ari Emanuel Invests In Broadway's Next Act With $6B Theater Buy

Yardi-Backed Flex Office Marketplace Launches In U.S. As Companies Plan To Up Attendance

BPS Purestone Hurries To Disrupt Undervalued London Market In £500M Push

Brookfield Accelerates Launch Of Giant Real Estate Fund As Market Improves