![]() ![]() Jean-Pascal Tricoire, CEO of Schneider Electric, a Global 500 company based in France, told Fortune that other countries like the U.S. Germany has been an outlier, with the number of companies growing from 29 to 30. In just a decade, Italy has seen the number of its Global 500 companies shrink from eight to five, while France has seen a dip from 31 to 24. Other countries in Europe are facing a similar decline as business hubs. Some of the largest companies in the world still call the city their home, including fossil fuel giants Shell and BP, which rank, respectively, ninth and 22nd globally. Still, even though London slipped down the ranks this year, it's not all doom and gloom for the English capital. and other global cities to be much smaller in the future than it has been in the past," he said. "Its position has been eroded and we expect its growth premium compared to the U.K. Lyne said that while London will generally continue to be significant in the global context, it may not reclaim its old glory. In all of Britain, the number of companies has shrunk from 26 to 15 in the last decade. That year, it hosted 11 Global 500 companies. The Brexit vote the next year presaged London's drop, and the last time London slipped below the top five was in 2019, amid the lead-up to Brexit going into effect. ![]()
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