London is indisputably one of the world's great centers of finance and business. Indeed, it was the first city to hold this title worldwide, and other financial hubs owe many of their characteristics to the standards that London set. Even though it has to share the stage with places like Frankfurt, New York, and Hong Kong, London remains the world's original place of global business.
What better way to acquaint yourself with this great city than to take a tour there? You can find tours in London that can educate you on features both new and old, enduring and trendy. Let's take a closer look at what got this great city started on the global scene.
Location, location, location
Part of London's greatness lies in its strategic point on the globe. With business hours that converge – at least partly – with both Asian markets and American ones, it is the ideal spot for business transactions (indeed, this is how Greenwich earned the title “mean time”).
English common law as a business standard
It is widely understood that the use of English common law is best suited for the creation of contracts both national and international, for several reasons. English law relies heavily on precedent, which reduces uncertainty and strengthens accuracy. It also allows for flexibility in contract formation, and minimizes the role of courts.
All these characteristics give English common law a major advantage over the law practiced in other parts of the world, which can slow business processes and bog them down in bureaucracy and red tape.
Historical precedent
London has earned the title of global leader in business because it has more experience than any other city. It was the original center of banking, created the first widely-adopted insurance and legal services, and gradually built up its institutions over the course of several hundred years.
Original forex location
Although Amsterdam holds the title of being the absolute original foreign exchange market, London took from these early seeds and developed them into something bigger. One of the reasons is because the pound sterling held the status of being one of the world's reserve currencies for many years, which established the UK as a major forex hub. This took place over the course of the 20th century.
Adaptability to business trends
London financiers have long been flexible when it comes to diversifying their services. They realize that this flexibility is the key to success in a rapidly changing world. Because of this, the city of London has smoothly shifted from focusing on traditional banking to offering a wide range of financial services including things like fintech and even “green” finance.
London is spectacular!
Aside from all this, the city is a spectacular place in general. Its many wonders, including Big Ben, Hyde Park, the Victoria and Albert Museum, the Tate, and many others, can keep visitors busy for weeks at a time. If you are a lover of parks, you can stroll through beautifully manicured English mazes, wonder at lush gardens, and simply while away the time in between activities. You can enjoy high tea in the afternoon, and visit an ancient pub at night. Whatever you want, you can find it in this great world city.
The future is bright
The UK has been through a lot recently. From Brexit to global conflict to rapidly changing governments, somehow the city of London has remained unscathed throughout it all. And this is a testament to its strength. But don't just take our word for it; check out GetExperience today and grab your London tour tickets!
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