London has again been hailed the world’s most powerful city – and a flurry of activity in the East End has played its part in the success.
To reach their findings, experts from The Mori Memorial Foundation’s Institute for Urban Strategies consider the “magnetism” of 40 global metropolises.
Put simply, this means their ability to draw in creative and enterprising individuals from across the world and make best use of their assets for economic and social development.
The report noted the development projects planned for the East End and a “long term focus on redevelopment” with initiatives such as the establishment of Queen Elizabeth Olympic Park and construction of Crossrail, which has a station in Canary Wharf .
University College London professor Peter Bishop said London tourism had rocketed since the sporting extravaganza in Stratford and the Rugby World Cup, with games also being staged at the park.
London ranked among the first three positions in all the six categories – bar livability and environment.
Mayor of London Boris Johnson said: “With a thriving economy, an unrivalled cultural scene, numerous top sporting venues, some of the best universities in the world, a low crime rate and much else besides, it is no wonder that London continues to outstrip other cities across the world.
“As London grows to record levels we are working hard to build the new homes and deliver the infrastructure that will ensure we remain a global powerhouse for decades to come.”
Property prices in the capital are soaring with experts predicting the population will reach 11million by 2050.
Residential developments by Canary Wharf Group Plc alone will help double the population on the estate from 112,000 to 200,00 during the next 10 years.
The rankings mirrored the 2014 findings, which saw New York take second place, Paris in bronze position with Tokyo close behind.
Meanwhile Los Angeles, San Francisco and Hong Kong showed significant improvement.