London remains the top city for business

As we approach a tougher economic climate, it is important that the city retains its competitive edge and we are looking forward to maintaining our position next year

Michael Charlton

Chief Executive

Think London

The capital has taken top spot in the European Cities Monitor 2008, which is the 19th consecutive year London has been listed as the number one destination for businesses.

Carried out by real estate consultant Cushman & Wakefield, the report ranked the city at the top in six of the 12 major criteria examined, including access to markets, quality of telecommunications and the presence of qualified staff.

Michael Charlton, Chief Executive of foreign direct investment agency Think London, commented: "As we approach a tougher economic climate, it is important that the city retains its competitive edge and we are looking forward to maintaining our position next year.

He also claimed London is proving popular with companies from nations such as India, China and the US who want to gain access to European markets.

Earlier this year, the 2008 Worldwide Centres of Commerce Index study, carried out by MasterCard, claimed London was the most influential city in the world, due its strong economy, secure legal framework and financial markets.