Rejoice, fellow Londoners, for our fair city has been ranked number one in an index of the world's most powerful cities for the fourth time in a row, largely thanks to its strong economy. Negative inflation? What negative inflation?
The Global Power City Index, by the Mori Memorial Foundation's Institute for Urban Strategies, ranks cities by six measures, including their economy, research and development, cultural interaction, livability, environment and accessibility.
London ascended to the top of the rankings in 2012, partly thanks to the success of the Olympic Games – and has stuck there ever since. This year, it ranked top for cultural interactions (those free museums are the gift that keeps on giving), and second for both accessibility and economy.
The capital's strengths are seen as being the number of flights arriving and departing at its airports; the number of international students; the trade value of its audiovisual and related services, and the number of foreign residents.
Among the capital's weaknesses were the average property rental price, and the high cost of taxi fares.
But New York, which was knocked off the top spot in 2012, still beats London on research and development, while Geneva, Frankfurt, Stockholm, Zurich and Vienna take the top five spots when it comes to the environment (not surprising, given the London's problem with pollution in recent months).
Mayor of London Boris Johnson took the opportunity to list some of London's advantages.
“With a thriving economy, an unrivalled cultural scene, numerous top sporting venues, some of the best universities in the world, a low crime rate and much else besides, it is no wonder that London continues to outstrip other cities across the world," he enthused.
"As London grows to record levels we are working hard to build the new homes and deliver the infrastructure that will ensure we remain a global powerhouse for decades to come.”