London second-best city to invest in worldwide

Asset manager Schroders has listed London as the second-best city globally to invest in

The capital is the only European city in Schroders’ top 10 choices, overtaking Hong Kong to rank at second place.

Los Angeles holds the top spot, as it did last year. The top five is largely dominated by US cities, with New York claiming fourth and Boston fifth place.

Schroders scores cities based on factors including economic growth projections, expected trends in disposable income growth, and population size.

London’s position was strengthened by strong employment data, which fed into analysis of income growth.

Schroders said that the ranking “reinforces London’s position as a significant contributor to the UK economy and highlights the UK capital’s attraction as a location for real asset investing.”

Hugo Machin, co-head of global real-estate securities at Schroders, said, “We remain upbeat about London’s prospects. London has unmatched attractions, from green spaces to a vibrant cultural and entertainment scene.

“London, like a number of other true global cities, remains at the centre of the global economy despite challenges surrounding Brexit,” he added.