London retains influential status in magazine rankings

London has retained its status as the world’s most influential city thanks largely to its entrepreneurial reputation and global transport links, according to Forbes.

The business magazine ranked the UK capital above New York and Paris in its top-ten list, with fourth-placed Singapore hailed as the biggest rising star.

Researchers also highlighted the high number of company headquarters based in London, and said that its political and judicial systems have made it a model for the rest of the world, telegraph.co.uk reports.

Forbes’ rankings were formulated using eight factors, including the number of corporate headquarters, aviation links to other major cities, media power and levels of direct foreign investment.

In its report, the firm said: “For the time being, the future of the global city belongs not to the biggest or fastest growing but the most efficient and savvy, and those with a strong historical pedigree. This raises the bar for all cities that wish to break into this elite club.”

This isn’t the only time London’s entrepreneurial spirit has been highlighted in the last week. According to forbes.com, the city is now also the crowdfunding capital of the world. The Crowdfunding Centre ranked it above New York City and San Francisco in a recent study, with an average of 12 new campaigns launched every day.