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At the end of 2022, Paris eclipsed London as Europe’s most valuable stock market, knocking the U.K.’s capital squarely out of the position it’s held since 2003.
The knockout dovetailed with a report from the Organization for Economic Co-operation and Development, which showed the U.K. economy was lagging behind fellow G7 nations. Canada, France, Germany, Italy, Japan and the U.S. all grew their GDPs last year while Britain’s declined.
The U.K. has long been considered a top creative hub for the marketing industry, but as it grapples with its own internal tussles—politics, inflation and post-Brexit reverberations—its continued economic influence on the world stage is uncertain.