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London Outpaces New York as `Soft Power' Capital, Deloitte Says

  • U.K. city has generated 235,000 high-skilled jobs since 2013
  • City draws executives from around the world, study shows

London is the “soft power” capital of the world, generating more high-skilled jobs and proving more internationally diverse than other major cities, according to Deloitte LLP.

Outpacing New York and five other cities, the U.K. capital created 235,000 new high-skill jobs since 2013 and now employs business leaders of 95 nationalities, a study released by the company on Wednesday showed. One disappointment will be that New York now has largest number of high-skilled financial services jobs.

“London is a global city, arguably the world’s foremost business hub,” said Angus Knowles-Cutler, Deloitte’s senior partner in London.

Its strength lies in many people having traveled to the U.K. for education as well as the vitality of its burgeoning digital scene, said Deloitte. Business leaders with time in London on their resume now work in 134 countries versus 120 from onetime New Yorkers.

The future of the U.K. capital isn’t without risks. Automation threatens to reduce the number of low-paid jobs, a housing shortage looms and like all rivals it doesn’t have enough females in top roles, Deloitte said.

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