London, Singapore, Toronto and Paris top PwC’s latest benchmark of the broad urban qualities that make 30 global business, finance and culture capitals successful.
According to PwC’s Cities of Opportunity 7, London claims the top spot due to its strong showing across the leading indicators, and is followed by Singapore, Toronto, Paris and Amsterdam.
Singapore topped in three indicators, namely Technology Readiness, Transportation and Infrastructure, and Ease of Doing Business.
Cities were assessed based on data from 2014-2015, with findings from the study underscoring a key premise: city success requires balanced social and economic strengths, which finds high scores in the human elements of urban life.
Hong Kong, in the 9th spot, performs well in Ease of Doing Business (2nd). Beijing which retains its overall 19th spot, performs particularly well in two study indicators: City Gateway (3rd) and Economic Clout (3rd).
Other Asian cities assessed by the study are Seoul (11th), Tokyo (15th), Kuala Lumpur (20th), Shanghai (21st), Jakarta (28th), and Mumbai (29th).
While compiled before the recent UK referendum vote to leave the EU, detail in the report’s wide ranging measurements gives an early indication to its competitors of both London's international strengths and areas it may have to compete harder on post Brexit.
U.S. cities are demonstrating strength in leading economic and social indicators, but are also revealing dimensions where they are falling behind as engines of global competition and urban well-being. Four U.S. cities—New York, San Francisco, Chicago and Los Angeles—were included in the report.
The top three cities in each ‘Cities of Opportunity’ indicator are:
Intellectual capital and innovation: London, San Francisco, Paris
Technology readiness: Singapore, London, Amsterdam and New York (tied for third)
City gateway: London, Paris, Beijing
Transportation and Infrastructure: Singapore, Dubai, Stockholm
Health, safety and security: Tokyo, Toronto, Sydney
Sustainability and the natural environment: Stockholm and Sydney (tied for first), Seoul and Toronto (tied for third)
Demographics and liveability: New York and Paris (tied for first), London
Economic clout: London, New York, Beijing
Ease of doing business: Singapore, Hong Kong, London
Cost: Johannesburg, Toronto, Los Angeles