London economic growth will outstrip New York by 2030

Jessica Morris
Follow Jessica
London's Economic Boom Continues
London's sectors are boosted by the successes of banking and finance (Source: Getty)

London's economy is expected to grow more quickly than New York's over the next 15 years, helped by its ability to benefit from international growth.

The capital's economy will grow by an average of 2.9 per cent a year between now and 2030, outpacing New York's 2.6 per cent, according to the report by consultancy Oxford Economics.

"A global outlook gives an unrivalled opportunity for enjoying growth from wherever it comes," Richard Holt, head of global cities research at Oxford Economics, said.

Read more: London's economic growth in 2015 far outstrips the rest of the country, RBS figures show

Holt added that London was one of the world's "most flexible cities" where other sectors are burgeoned by the successes of banking and finance.

Paris was the only other European city to make it into the report's top growth list: the city is expected to grow by 1.7 per cent during the same period.

Related articles