New research by London & Partners, the Mayor’s business and promotional company, has revealed a record number of foreign firms coming to London to start business.
Gordon Innes, chief executive of London & Partners, has said ‘Over the last decade foreign investment in London has gone through the roof and the tech sector is now leading the way’
There has been a large rise of job creation by foreign tech companies as well as financial and business services and the life sciences industry.
A total of 270 different companies have been set up, creating around 5000 jobs in the capital.
Within this, this year, Indian companies are the second largest job creators in London, creating 504 jobs, second only to Americans who have created 1,983 jobs. Chinese companies have created around 277 jobs. Foreign firms in London include forefront global companies such as Pfizer and Tata Elxsi.
Ten years ago only 26 companies moved to London, and in the last financial year a record 108 companies have set up shop in the capital.