London an essential stop for global professionals

Jan 25 2006 by Brian Amble Print This Article

Global professionals increasingly view working in London as an essential part of their career, with nine out of 10 foreign-born executives saying that working in the city has benefited them.

A new report by Think London, London's foreign direct investment agency, in collaboration with Dr Michael Dickmann of Cranfield School of Management, looks at the impact of working in London on the careers of foreign-born executives whose organisations are based in the capital.

Based on interviews with 350 foreign-born executives from 46 different countries, the report highlights the emergence of a new breed of executive who seeks to add value to their careers, not just by which organisation they work for, but also by where they work.

Overwhelmingly, those surveyed said their career had benefited from working in London. Nine out of 10 executives said that working in the capital had increased their understanding of global business.

Eight out of 10 added that colleagues in their home country viewed London as career enhancing or very important to career development while more than nine out of 10 said that positive impact on career was the biggest influence for moving to London in the first place.

Nearly six out of 10 foreign-born executives have been promoted during their time in London, and almost eight out of 10 expect further promotion when they leave.

Other qualities also emerged as being important to the London experience. Eight out of 10 said that the cultural and social life in the city enhanced personal growth and seven out of 10 that it has helped them network with people from other organisations.

And more than nine out of 10 said that their time in London helped them develop tolerance of diverging views, with an overwhelming majority of those surveyed valuing London's open-mindedness, tolerance, and ethnic and cultural diversity.

"We know that London is a major global destination. But even we didn't foresee how much executives value the capital's networks, opportunities and energy," said Think London Chief Executive, Michael Charlton.

"It seems clear to them that if you succeed in London, you can succeed anywhere."