London has earned the top spot in PwC’s latest study of “Cities of Opportunity,” which looks at a range of characteristics and ranks 30 global cities on their overall performance.
“Changing demographics, shifts in economic power and the concepts of urbanization being realized are the forces taking the world in a new direction,” said Bob Moritz, chairman and senior partner for PwC US. “Cities are increasingly competing for talent and are working hard to capture the promise of growth from the many opportunities in today’s rapidly changing world.”
The indicators considered in the report include:
- Intellectual capital and innovation – Numbers of libraries with public access, literacy and school enrollment, percentage of population with higher education, etc. Paris, London and San Francisco were the three top-ranked cities in this category.
- Technology readiness – Internet access in schools, broadband quality, size of the digital economy, etc. London and Seoul tied for first place here, followed by Stockholm and Hong Kong.
- City gateway – Numbers of hotel rooms, international tourists, international association meetings, on-time flight departures, etc. The top three cities were London, Beijing and Singapore.
- Transportation and infrastructure – Mass transit coverage, public transport costs, housing, etc. Singapore and Toronto took the top two spots, while Buenos Aires and Seoul tied for third.
- Health, safety and security – Number of hospitals, health employment, crime, political environment, etc. Stockholm came in first, Sydney and Toronto tied for second, and Berlin was third.
- Sustainability and the natural environment – Natural disaster risk, air pollution, amount of recycled waste, etc. Tied for first were Stockholm and Sydney. Paris and Berlin then tied for second, followed by San Francisco.
- Demographics and livability – Quality of living, working age population, traffic congestion, etc. The top three were Sydney, London and San Francisco.
- Economic clout – Number of Global 500 headquarters, financial and business services employment, productivity, etc. London, Beijing and New York took the top three spots.
- Ease of doing business – Ease of starting a business, employee regulations, level of shareholder protection, etc. The top-ranked cities were Singapore, Hong Kong and New York.
- Cost – Cost of living, corporate tax rate, working hours required to buy an iPhone 4S 16GB, etc. The three top cities here were Los Angeles, Chicago and Johannesburg.