For the third consecutive year, Apple tops the list of most innovative companies.
They Flock to London
With unemployment rates hovering around 25% in European countries like Spain and Greece, and 15% in Portugal and Ireland, it's no wonder that talented, ambitious Europeans, using the passports that permit them great mobility to work within the European Union, have flocked to the United Kingdom, where the unemployment rate is currently 8.1%.
And though Olympic fervor has now passed, London, with its large population, strengths in diverse sectors and a long tradition of hosting immigrant communities, is where the vast majority of these new arrivals have landed.
Belate Atorrasagasti, 29, a software engineer at a technology startup called Pelucid hails from San Sebastian, in northern Spain. She moved to London earlier this year for additional work opportunities and to improve her more real-world education.
"In my sector, there are more opportunities in London than there are in Spain," she said.
She feels comfortable in London because she's surrounded by other Spaniards seeking similar advantages. "I have many friends who have migrated," she said. "One friend is working in Berlin, and there's another in Canada, but most of my friends are working in London." At this point, she plans to remain in London indefinitely.
After spending five years in Barcelona earning a Ph.D., Portuguese-national Pedro Pedroso, 28, needed a new challenge. "It was too soon to go back to Lisbon," he said. "Even though Madrid was within my comfort zone, no other city in Europe was as appealing as London. I feel like London is the capital of the world because it answers my needs in terms of job opportunities, lifestyle, and entertainment options."
Scandinavians, known for speaking near flawless English, have also searched for opportunities in Europe's global capital. Hans Rahbek, 28, from Denmark, where the unemployment rate is similar to that of the UK, moved to London in early 2012 after completing a master's degree in Denmark but finding himself unable to find work.
"Despite Denmark having very good unemployment benefits, I very quickly grew depressed with the bureaucratic system you face while being out of employment," he said. "Dismayed by the lack of responses during my government mandated job hunting, I decided to use my mobility within the EU to look for more and better opportunities in London."
Yet he warns that "looking for work in London is also extremely taxing, with all the good jobs being chased by thousands of young people who are just as skilled and hungry as you are."
Rahbek said, "I managed to land my first part-time job in a large Housing Association where I eventually managed to get myself sorted with a full-time position and a regular income as a complaints officer."
Without a doubt, the influx of young Europeans has brought a cultural diversity to the capital, adding to the city's already phenomenal offerings. As Samuel Johnson famously said, "When a man is tired of London, he is tired of life." While the educated foreigners are certain to increase London's talent pool, it is still unknown how these newcomers will affect the overall UK economy.