Exclusive: London beats European cities to continental tech crown

London is the most technologically advanced city in Europe, beating Paris, Frankfurt and Madrid, exclusive research shared with City PM unveils.

The capital’s capacity for world class innovation drove it to the top of the continental rankings in Z/Yen’s sixth smart cities index.

New York topped the global rankings, again.

The Square Mile’s banks, brokers and insurers ability to create new financial products also helped it retain second place in the world, while Z/Yen praised London’s infrastructure for enabling smooth trade.

London’s welcoming legal and tax regime has made it seamless for firms to interact with each other, the index noted.

UK cities dominated the top 10.

Oxford and Cambridge also placed ninth and tenth, ahead of any other European city.

The closest place in Europe rivalling London is Zurich, followed by Lugano and Malta.

London has topped most of Z/Yen’s other indexes on a European basis. The organisation recently ranked the capital as the top finance hub and the greenest place for banks, brokers and insurers to do business.

European capitals have been vying for London’s crown as the top finance centre since Brexit. 

Figures out from Bloomberg earlier this month found Paris climbed above London in the largest stock market rankings, although that was primarily driven by a weaker pound.

Sterling has strengthened substantially recently, likely pushing London back to the top of the table.