London is the most influential city in the world, according to a new a new study by Forbes Magazine of the globe’s most “necessary” cities.

Both London and New York topped the list, largely due to inertia, or the fact that they always have been the most dominant.

London managed to edge ahead of New York because of its location as a global transport hub, higher number of company HQs, and loose financial regulations.

However, Forbes were quick to remind us that Britain as a country is on its way down.

The study said:

“Inertia and smart use of it is a key theme that emerged in our evaluation of the top global cities. No city better exemplifies this than London, which after more than a century of imperial decline still ranks No. 1 in our survey.

“The United Kingdom may now be a second-rate power, but the City’s unparalleled legacy as a global financial capital still underpins its pre-eminence.”

Forbes based its findings on eight criteria, including the level of foreign direct investment, the number of corporate headquarters, the amount of business types it dominates, ease of air travel to other global cities, the strength of financial services, technology and media power, and racial diversity.

The result was a clear dichotomy between London and New York, with Paris and Singapore trailing some way behind in third and fourth place.

Cities on the rise included Dubai, in seventh place, and San Francisco, in equal tenth.

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