London, with its vibrant Square Mile and the multitude of banks it houses, has long been the financial center of continental Europe.
Apparently even Brexit couldn’t dampen its charm, as town stays a talent magnet like no other.
The British capital has been a top destination for job seekers for years – and this yr was no different, in keeping with a Boston Consulting Group (BCG) global workforce survey released on Wednesday.
“This is a position the company has maintained for a decade, with the capital consistently ranking highest in the quality of jobs and quality of life available,” said Nick South, managing director and senior partner at BCG Assets. “This is extremely positive for the British capital.”
What’s not to love about London? Respondents to the survey, which involved over 150,000 people worldwide, noted that London is an English-speaking country with a various workforce and opportunities. It’s also close enough to Europe and conveniently positioned between the US and the remainder of Asia. This puts it ahead of other destinations comparable to New York, Amsterdam and Dubai. In theory it has every little thing.
But it seems that is still not nearly enough to provide the UK a glowing rating. Of the countries people most wish to move to, Australia trumps the UK to return out on top, in keeping with BCG. The US and Canada are in second and third place, while the UK is in fourth place.
Participants cited cost of living, ease of visa application and quality of education as reasons for selecting one country over one other.
The UK remains to be ahead of its European competitors comparable to France and Germany as a destination for global employees.
“London’s position as the most desirable city, a position it has held for many years, is both a promise and a challenge,” South said. While it reiterates town’s appeal to global talent, he added that UK corporations should remain open to “both local and international workers”.
Looking for greener pastures
People select to maneuver Down Under due to the warm weather, low visa hurdle and fluency in English, amongst other reasons. In addition to lifestyle reasons, Australia can also be one in all the top-skilled countries talent in previous studies, because of his job opportunities. The country has moved from seventh place within the BCG list to first place in ten years.
The results come at a time when Britain and Australia are within the means of being overhauled Your immigration system is meant to tighten the standards for those wishing to enter the country. The UK has experienced some problems attracting inter-European talent post-Brexit.
However, labor shortages are an actual threat that may be addressed through immigration. In 2022, the UK saw a record increase at arrivals amid global conflict and a talent shortage.
“Labor migration represents an excellent opportunity to close this gap,” Sebastian Dettmers, CEO of BCG’s survey partner The Stepstone Group, said in an announcement. “We need to make our labor markets more flexible, allowing workers to move to where they are needed most and where they can find the best positions for their skills and goals.”
