Becoming the Europe’s financial hub is not a thing that can be achieved easily or fast, it requires luck, determination, tools and many other things. Having all those things is not enough to succeed, there is one more thing that not many cities have and that is time. fortunately, London had time and all the other necessary things to succeed in becoming the financial hub of Europe.
Time and History
Of course, this didn’t happen from one day to another, it took a long time to achieve this. It all started somewhere around the end of the WW2 when London was a capital city, meaning it had the busiest and richest port in the entire trade empire. Then London was established as a center for international finance. Even before that, a couple hundred years back London had some accomplishments that contributed to becoming the financial hub of Europe.
The Bank of England, for example, was designed by the Italian bank models and it was established in 1694. Also from that period, some similar institutions were emerging that were using the power and wealth of England at the time. what really helped London with this achievement was all the businessmen, traders and various investors that created a very rich atmosphere for future businesses. London is a city that was always protected by various things such as the sea and the Royal Navy, that gave them comfort to develop physical security.
Some of the success London is having can be attributable to the modern era. The location of London is perfect because it is located halfway between the Asian market to the East and the American market on the West side. Those two powerful forces have always been of an advantage for London and of course, the fact that they have the same language as the world richest nation has to do with the financial state of London.
Overall if you look at London, there are many things that attributed to today’s financial status. All those previously mentioned things were a key and a turning point for their economy. However, if you want to know, even more, you need to check the detailed history of London.