Business magazine Forbes recently ranked London as the most influential city in the world, followed closely by New York. The magazine said that, while the UK “may now be a second-rate power”, London’s “unparalleled legacy as a global financial capital still underpins its pre-eminence”. The magazine’s analysts based their decision on factors such as foreign direct investment, the concentration of corporate headquarters, the number of business niches the city dominates, racial diversity, strength of producer services, financial services, technology and media power, and air connectivity.