London as a Global City

Introduction A global city is a city which has a big economic significance in the world. Thus for a city to be deemed as global or world class it has to pass certain criteria. These criteria include economic characteristics, political characteristics, cultural characteristics, transport characteristics, and many others such as population, information exchange, human capital, and business activities.Advertising We will write a custom essay sample on London as a Global City specifically for you for only $16.05 $11/page Learn More According to recent surveys Asian cities are emerging as newcomers in the prominence of cities on the globe. For instance in the latest survey according to Kearney (2010), 5 of the top ten global cities come from Asia. Currently London is ranked second after New York City. Reasons why London is a global city The city of London is considered a global city because of many reasons. The city is a metropolitan and therefore it has a mi xture of different cultures. According to Bloomberg Businessweek (2010), London ranks second after New York. This index is based on the rich human resource and the cultural wealth and other strengths. Business activities in London are also of a very high index. The human capital of the British capital is also increasing. Population of London According to Bentham (2010), London’s population is set to reach 8.3 million people. This means that the population is increasing by 10% in a period of eight years. In addition to this, more people in England are moving from the rural areas into London for many reasons. The report also states that fewer Londoners are moving abroad. Increased population has the advantage of increased human resource and also the presence of a ready market for goods and services. GDP of London The GDP of London is currently on the rise. As Packer (2004) writes, London has grown to become a major financial centre of the world. London is a metropolitan capital and which still remains a powerful center where the world gets sucked. Before being overtaken by New York in the twentieth century, London had been leading other world cities in terms of size and wealth. Cultural wealth of London Since time immemorial, London has continued to increase in its cosmopolitan state. The British capital has continued to attract human labor from across the whole world. For instance it attributes its name from Italian linguistics whereby the city of London emanated from the Roman Londonium which was a tribal capital of Britannia. Cultural wealth of London is an accompaniment of the way in which Britain gained colonial powers. Slave trade as Packer (2004) puts it, made Britain ports to fill with cultural diversity which later on spread to the interior.Advertising Looking for essay on geography? Let's see if we can help you! Get your first paper with 15% OFF Learn More Transport facilities London has invested heavily in the transport sector. Th ere is an excellent network of roads and railway lines traversing across London. London is also well known for its highly developed marine transport. The good network of transport facilities provides the ease of movement of goods to and from the market. Movement of Human labor is also enhanced. According to Litman (2006), London has continued to decongest its roads by implementing certain measures. Henrion (2010), also states that businessmen can travel quickly into London from other European cities. Medical facilities in London London is well endowed with world class medical facilities. According to Uhlhorn (2010), London health care facilities are among the top of the world as it is with the Australian facilities. Major laboratory researches are done in London universities. Medical centers such as the UCL medical center are also characterized by world class research facilities. Information exchange of London London was among the first city in the world to use transmission of infor mation in form of radio waves. The use of this system is dated back during the Second World War when Britain used the technology of radar to track airplanes. London has also excelled in the IT sector such that its development has also been attributed to its existing IT policies. Business and economic activities There are many business activities in London. The major businesses activities include stock exchange, banking industry, insurance industry, transport industry, real estate business among others. Services in the business industry also present a major source of income for the Londoners. The City University, London (2010) informs how information exchange is used in almost all sectors and how Londoners are being educated on how to use this system. Political stability Political stability of Britain has enabled her capital to grow expansively throughout the years. British political system has enhanced the presence of peace. The presence of peace makes London an attractive place to invest, visit or live. According to Durham (2005), political situation in London has been formulated to accommodate all kinds of people including gays. Conclusion In conclusion London’s prosperity has been depending upon the above factors. Other factors which have enabled London to develop to a world class city include, tourism sector whereby people from all over the world have been able to access London’s beauty. London has some of the best hotels in the world. In addition to all the above, Britain also has an excellent learning system whereby some of the universities are well known to be world class. This is according to the Consolidated School District of New Britain (2010)Advertising We will write a custom essay sample on London as a Global City specifically for you for only $16.05 $11/page Learn More Reference List Bentham, (2010). Population of London set to hit 8.3m high, Evening Standard, 2010 Web. Available at: http://www.thisisl ondon.co.uk/standard/article-23838968-population-of-london-set-to-. Bloomberg (2010). Business week, top global cities 2010 Web. Available at: http://images.businessweek.com/ss/10/09/0928_best_global_cities_2010/3.htmhit-83m-high.do . City University, London (2010). Guidelines on the use of Display Screen Equipment Web. Available at: http://www.city.ac.uk/hr/policies/wellbeing/display.html. Durham, M. (2005). Abortion, Gay Rights and Politics in Britain and America: A Comparison, Parliamentary Affairs Vol. 58 No. 1, Hansard Society for Parliamentary Government 2005, pp 89-103 Henrion, N. (2010). Transportation Guide from Paris to London by Air, Rail and Road Web. Available at: http://www.suite101.com/content/transportation-guide-from-paris-to-london-by-air-rail-and-road-a266441. Kearney, A.T. (2010). Global cities index Web. Available at: http://www.atkearney.com/index.php/Publications/global-cities-index.html . Litman, T. (2006). London Congestion Pricing Implications for Other Ci ties. Victoria Transport Policy Institute, pp 8.Advertising Looking for essay on geography? Let's see if we can help you! Get your first paper with 15% OFF Learn More Packer, D. (2004). London: Heart of Empire and Global City Socialist Outlook: SO/04 –  Autumn 2004 Web. Available at: http://www.isg-fi.org.uk/spip.php?article260 . The Consolidated School District of New Britain ct, (2010). Britain Board of Education website Web. Available at: http://www.csdnb.org/#home. Uhlhorn, D. (2010). The fifth estate, Medical facilities: Translational research – from the  Bench to the bedside Web. Available at: http://www.thefifthestate.com.au/ . This essay on London as a Global City was written and submitted by user Journee Bender to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here. London as a Global City A global city is characterized by several factors like a centre for world finance and trade flows, immigration in large scale, growing income, and polarized occupation (Sassen, 2001) (Eade, 2000). London has attained the level of being characterized as a global city due to its effort of increasing citizen’s income and occupation. For several years, business inputs in London city have been high as well as large commercial spaces and availability of labour. Like other global cities, luxury goods are offered in most of the selling places.Advertising We will write a custom essay sample on London as a Global City specifically for you for only $16.05 $11/page Learn More However, the immigrants and other minority groups cannot afford to purchase these goods, and hence why they take an extra step of purchasing them from the co ethnic producers or even from other low cost shops of other immigrants. In London, there are niche markets composed of small pack ed goods which are meant to target the most competent consumers. However, this has led to labour intensive which mostly results from immigrants (Atkinson, and Bridge, 2004). City of London like many other global cities has an increased population of immigrants which has led to a major growth of small scale producers. This has led to a noted competition between large stores and supermarkets with small scale producers. It has been recognized as a world class and full of much dynamism due to its ability of giving many people different types of benefits and creation of opportunities. To mention but a few, London is a centre for transport which creates a connection between Europe and most parts of the world. According to Amin (2006), airport terminals in London conduct more than 110000 flights in one month. Diversity is another opportunity offered by the global city of London due to its high population capacity which was estimated to be around 7.62 million by the year 2008, Cowan, (2005) . The city population is mainly composed of black and other minority groups such as Asians. It is looking forward to have these groups as the majority in working age population by 2013. As far as communication is concerned, Londoners speak in more than 300 languages with more than 15 different religions. In terms of business and finance, London has qualified to be a global city as it received the highest number of votes as a European city conducting different types of businesses. This was based on the factors that it has an easier accessibility to various markets, availability of highly qualified personnel who can ensure the success of most businesses. Its internal and external transport and communication connections are effective. Different languages which are spoken in this global city also make it possible for the business transactions to be conducted smoothly (Block, 2007) (Fyfe Kenny, 2005).Advertising Looking for essay on business economics? Let's see if we can help yo u! Get your first paper with 15% OFF Learn More London city has also managed to be the European headquarters for the most prestigious global companies which are over 550 in number. Most of the issues affecting these companies are tabled in London city. Globally, there are a lot of foreign transactions which are conducted regularly and more than 50% of these transactions are traded in London city. This city has also offered a place to the whole world where majority of currency exchanges are performed more than how it’s done in New York or Tokyo. In addition, more than 80% of all the commerce duties done in London are international. This makes this city to be outstanding than other cities that relies on the domestic markets, making it a global city (Hall, 2001) (Sassen, 2000). Environmentally, most cities are faced by different challenges and the way in which a city faces its challenges determines its position to be recognized as a global city (Block, 2008). London ci ty has developed some technical ways through which it faces its challenges like developing environmental excellence which can effectively accommodate climate changes. These techniques include dividing energy production units and coming up with congestion charge. Most of the environmental challenges which are faced by London city are as a result of purchases and usage of energy (Clark, 2003). Another reason which qualifies London as a global city is excellence in knowledge. London is recognized by its strong foundation in improving scientific matters and in advancement of its technology. Several scientific events and designs have placed this city on a very competitive edge (Paddison, 2001). Most of the well known researchers have been promoted in London city through advanced medical and clinical research centres which are equipped by this city with modern laboratories, equipment and staffs. London city has been recognized through by its provision of higher education, which is managed by qualified staffs in its advanced institutes of academics (Winder, 2010). There are over 50 these advanced institutes in the city, which have made it to offer the most competitive staffs in the world. Students in London are in a position to choose international courses which are above 50000 and recognized globally. This has made the city to accommodate more than 88000 students from all over the world. Therefore, it is explicit that all factors put in to consideration; London qualifies to be termed as a global city (Zukin, 1992).Advertising We will write a custom essay sample on London as a Global City specifically for you for only $16.05 $11/page Learn More Reference List Amin, A. 2006. The good city, Urban Studies 43.5/6, 1009-1023. Atkinson, R. and Bridge, G. 2004. Gentrification in a global context: the new urban colonialism. London: Routledge Block, D. 2008. The new economy of the inner city: restructuring, regeneration and dislocation in the twe nty-first-century metropolis. London: Routledge. Block, D. 2007. Multilingual Identities in a Global City: London Stories. Journal of Sociolinguistics, 11 (4), 531–534. Clark, D. 2003. Urban world/global city. London: Routledge. Cowan, R. 2005. The dictionary of urbanism. Streetwise Press, Chicago, IL. Eade, J. 2000. Placing London: from imperial capital to global city. Oxford: Berghahn Books.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Fyfe, N. Kenny, J. 2005. The urban geography reader, Routledge, New York, NY. Hall, T. 2001. Urban geography, 2nd end. Routledge, New York, NY. Paddison, R. 2001. Handbook of urban studies. London: SAGE. Sassen, S. 2000. ‘The Global City: Strategic Site/New Frontier’, American Studies, 41, pp. 79-95. Sassen, S. 2001. The global city: New York, London, Tokyo. Princeton: Princeton University Press. Winder, G. M. 2010. Global Reach? Reuters News and Network, 1865, 1881, and 1914 London’s. Journal of World History, 21 (2). Zukin, S. 1992. The Best of Cities, The Worst of Cities. Contemporary Sociology, 21 (4), 481-484. This essay on London as a Global City was written and submitted by user Crosby Jensen to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.