Steve VarsanoFounder at The Jet Business

London is the centre of the world

Name: London is the centre of the world
Uploaded: 2023-11-12T10:28:30+00:00
Duration: 1 min
Channel: Steve Varsano
Description: In this commentary, the speaker argues that London has long served as a gateway to the global financial system, extending beyond Europe and even beyond…

12 Nov 2023 · 1 min

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In this commentary, the speaker argues that London has long served as a gateway to the global financial system, extending beyond Europe and even beyond New York. The COVID‑19 pandemic has diminished New York’s dominance as a financial hub, leading to a more distributed pattern of business activity worldwide. The speaker likens this shift to a whack‑a‑mole game: when a problem arises in one location, the industry simply moves or adapts elsewhere. Despite broader global challenges, London continues to thrive, evidenced by a surge in new five‑star hotels and an unprecedented number of exclusive private members’ clubs, all of which are in high demand. The overall message is that commerce endures and adapts, even when the world appears troubled.

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The world changed a lot. It's like a moving chessboard. London was the gateway not only to Europe, but really to the financial world outside of New York. And New York now from COVID has sort of gone away from being that financial hub. But at the end of the day, the same amount of business is going on everywhere. It just might have been distributed differently. You have to sort of be able to duck and pop up somewhere else. It's like those whack-a-mole games you play in the amusement park. Every time you hit one, it pops up somewhere else. Yeah, well, the same thing in our industry. When you got a problem, you got to take care of it. You might go do it someplace else or go talk to somebody else. There's been a lot of changes here in the UK, but the fact of the matter is, is they have so many new 5-star hotels going up in this city. It's amazing. And one is just better than the other and the other. So many private members clubs here now, more than anywhere else in the world. And they're expensive to go to, and they're all full, and you can't get in. Obviously, it's supply and demand. When you can't get in, more people want to get in. It's surprising to see because you hear about everything wrong going on in the world. The world still moves, and people still need to have commerce, and people still need