London instance of global city
Economy
London's gross regional product in 2019 was £503 billion, around a quarter of UK GDP. London has five major business districts: the city, Westminster, Canary Wharf, Camden & Islington and Lambeth & Southwark. One way to get an idea of their relative importance is to look at relative amounts of office space: Greater London had 27 million m2 of office space in 2001, and the City contains the most space, with 8 million m2 of office space. London has some of the highest real estate prices in the world. London is the world's most expensive office market according to world property journal (2015) report. As of 2015 the residential property in London is worth $2.2 trillion – the same value as that of Brazil's annual GDP. The city has the highest property prices of any European city according to the Office for National Statistics and the European Office of Statistics. On average the price per square metre in central London is €24,252 (April 2014). This is higher than the property prices in other G8 European capital cities; Berlin €3,306, Rome €6,188 and Paris €11,229. As of June 2022, based on the cost of living in the city and the strength of the local currency, London is the 4th most expensive city in the world, behind Hong Kong, New York and Geneva.By the mid-19th century, London was the leading financial centre, and at the end of the century over half the world's trade was financed in British currency. Still, as of 2016 London tops the world rankings on the Global Financial Centres Index (GFCI), and it ranked second in A.T. Kearney's 2018 Global Cities Index.London's largest industry is finance, and its financial exports make it a large contributor to the UK's balance of payments. Around 325,000 people were employed in financial services in London until mid-2007. London has over 480 overseas banks, more than any other city in the world. It is also the world's biggest currency trading centre, accounting for some 37 per cent of the $5.1 trillion average daily volume, according to the BIS. Over 85 per cent (3.2 million) of the employed population of greater London works in the services industries. Because of its prominent global role, London's economy had been affected by the financial crisis of 2007–2008. However, by 2010 the city had recovered, put in place new regulatory powers, proceeded to regain lost ground and re-established London's economic dominance. Along with professional services headquarters, the City of London is home to the Bank of England, London Stock Exchange, and Lloyd's of London insurance market.Over half the UK's top 100 listed companies (the FTSE 100) and over 100 of Europe's 500 largest companies have their headquarters in central London. Over 70 per cent of the FTSE 100 are within London's metropolitan area, and 75 per cent of Fortune 500 companies have offices in London. In a 1992 report commissioned by the London Stock Exchange, Sir Adrian Cadbury, chairman of his family's confectionery company Cadbury, produced the Cadbury Report, a code of best practice which served as a basis for reform of corporate governance around the world.Education
Tertiary education
London is a major global centre of higher education teaching and research and has the largest concentration of higher education institutes in Europe. According to the QS World University Rankings 2015/16, London has the greatest concentration of top class universities in the world and its international student population of around 110,000 is larger than any other city in the world. A 2014 PricewaterhouseCoopers report termed London the global capital of higher education.
A number of world-leading education institutions are based in London. In the 2022 QS World University Rankings, Imperial College London is ranked No. 6 in the world, University College London (UCL) is ranked 8th, and King's College London (KCL) is ranked 37th. All are regularly ranked highly, with Imperial College being the UK's leading university in the Research Excellence Framework ranking 2021. The London School of Economics has been described as the world's leading social science institution for both teaching and research. The London Business School is considered one of the world's leading business schools and in 2015 its MBA programme was ranked second-best in the world by the Financial Times. The city is also home to three of the world's top ten performing arts schools (as ranked by the 2020 QS World University Rankings): the Royal College of Music (ranking 2nd in the world), the Royal Academy of Music (ranking 4th) and the Guildhall School of Music and Drama (ranking 6th).With students in London and around 48,000 in University of London Worldwide, the federal University of London is the largest contact teaching university in the UK. It includes five multi-faculty universities – City, King's College London, Queen Mary, Royal Holloway and UCL – and a number of smaller and more specialised institutions including Birkbeck, the Courtauld Institute of Art, Goldsmiths, the London Business School, the London School of Economics, the London School of Hygiene & Tropical Medicine, the Royal Academy of Music, the Central School of Speech and Drama, the Royal Veterinary College and the School of Oriental and African Studies. Members of the University of London have their own admissions procedures, and most award their own degrees.
type of example of manifestation of representation of