1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 24 strengths supporting economic growth 5.1 Global business connectivity Despite the development and widespread use of video calling, meeting and working together in person is still a fundamental component of business life. International, domestic and intra-city transport networks are essential in ensuring people can work, meet, network and socialise. London airports have the highest Ef昀椀cient commuting has become an London’s construction boom has capacity and are a hub for important factor in the ‘return to caused higher congestion in its tight international transfers. work’ debate. street network. Air passenger numbers remain High quality infrastructure improves London was the most congested city below 2019 across all GFCs except productivity and quality of life. in the world in 2022 as construction for Tokyo which has seen a 20% Singapore is a leader in infrastructure and redevelopment caused road increase. Passenger numbers in quality, however, it is smaller and closures and lane restrictions. London, NYC, Paris and Frankfurt therefore needs less long-distance London drivers spend an average decreased between 10%-20%, but infrastructure than other GFCs. of 13.5 days in rush hour tra昀케c Singapore passenger numbers are People’s perception of their country’s each year, 5.8 days longer than the still down 50% compared to 2019. infrastructure worsened across all of optimum journey time. The average London saw the highest number of the GFC countries in 2022 except the morning and evening rush hour air passengers in 2022, increasing US which improved, but remains the speed is 14km/h in London and rush 257% from 2021 to 134m. However, lowest rated. hour journeys take almost twice this is still around 30,000 below 2019 There are around nine million as long as the optimum journey. passenger numbers. However, London’s strong transport journeys on London’s transport Source network and miles of cycling lanes network every day. London’s newest o昀昀er multiple transport routes. underground train, the Elizabeth Line Airports annual reports and statistics releases Source (opened in May 2022) is already the UK’s busiest train line, with more than TomTom Tra昀케c Index 2023 600,000 passengers daily. 134m Sources people travelled Global Infrastructure Investment Association 2023 and TFL 2023 through London’s airports in 2022