London is the capital of England and the United Kingdom, the largest metropolitan area in the United Kingdom and the largest urban zone in the European Union by most measures.According to the European Statistical Agency, London is the largest Larger Urban Zone which uses conurbations and areas of high population as its definition. A ranking of population within municipal boundaries places London first. However, the University of Avignon in France claims that Paris is first and London second when including the whole urban area and hinterland, that is the outlying cities as well. London has been a major settlement for two millennia, its history going back to its founding by the Romans, who called it Londinium. London's ancient core, the City of London, largely retains its square-mile mediaeval boundaries. Since at least the 17th century, the name London has also referred to the metropolis developed around this core. The bulk of this conurbation forms the London region and the Greater London administrative area,See also: Independent city. governed by the elected Mayor of London and the London Assembly.
London is a leading global city, with strengths in the arts, commerce, education, entertainment, fashion, finance, healthcare, media, professional services, research and development, tourism and transport all contributing to its prominence. It is the world's largest financial centre alongside New York, has the largest city GDP in Europe and is home to the headquarters of more than 100 of Europe's 500 largest companies. It has the most international visitors of any city in the world. London Heathrow is the world's busiest airport by number of international passengers. London's 43 universities form the largest concentration of higher education institutions in Europe. In 2012 London will become the first city to host the Summer Olympics three times.More
Economy
London generates approximately 20 per cent of the UK's GDP (or $446 billion in 2005); while the economy of the London metropolitan area—the largest in Europe—generates approximately 30 per cent of the UK's GDP (or an estimated $669 billion in 2005). London is one of the pre-eminent financial centres of the world and vies with New York City as the most important location for international finance.
London's largest industry is finance, and its financial exports make it a large contributor to the UK's balance of payments. Around 325,000 people were employed in financial services in London until mid-2007. London has over 480 overseas banks, more than any other city in the world. Due to its prominent global role, London's economy has been affected by the global financial crisis of 2008–2009. The City of London estimates that 70,000 jobs in finance will be cut within a year.More