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New York, London, and Paris are Top Global Cities with Beijing Making the Top 10 for the First time in 2014 A.T. Kearney Global Cities Index

Tuesday 15th April 2014 | 10:01 AM

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Chicago (April 15, 2014) Embargoed until 00.01 GMT on April 15, 2014

New York, London, and Paris are Top Global Cities with Beijing Making the Top 10 for the First time in 2014 A.T. Kearney Global Cities Index

Australia outperforms - with Sydney ranked 14th and Melbourne 25th.

New York and London remain the world's most global cities, while select emerging-market cities strengthened their ability to challenge global leaders in the next 10 to 20 years, according to the 2014 A.T. Kearney Global Cities Index which was released today.

 

The 2014 edition of the Global Cities Index also includes the Emerging Cities Outlook 2014, a forward-looking measurement of emerging cities with the potential to improve their global standing in the next few decades. Jakarta, Manila, Addis Ababa, Sao Paulo, and New Delhi are the top five emerging cities.

 

Mike Hales, A.T. Kearney partner and study co-leader commented, "Corporate executives with will find information in the Global Cities Index to help them choose the most suitable locations for regional headquarters, research centers and operation hubs. City mayors and urban economic development planners will find insights to inform their improvement plans and investment decisions to better compete in the global economy and against other global cities."

 

The Global Cities Index, conducted every two years since 2008, provides a unique measure of global engagement for 84 cities on every continent, measuring how globally engaged each city is across 26 metrics in five dimensions - Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement.

 

Erik Peterson, A.T. Kearney partner and managing director of the A.T. Kearney Global Business Policy Council stated, "While most other city rankings limit their focus to business or quality of life measures, the Global Cities Index provides a holistic look at what differentiates cities in generating, attracting and retaining global capital, people, and ideas."

 

Local Findings

Melbourne, Beijing, Istanbul and Miami have scored the biggest increases in the survey, leapfrogging other cities by six or more places.   While Melbourne has moved up in the last 2 years from 32 to 25, Sydney has slipped out of the top 10 from 9 to 14.  This has less to do with these cities performing poorly against any metric, but rather the speed at which other cities are on the move.

 

Sydney and Melbourne do very well on a two key dimensions - Human Capital and Information Exchange.  However they lag behind other cities on the dimensions of business activity, cultural experience and political engagement. On political engagement in particular, no Australian city ranks in the top 30!

Australia's 'fast adopter' status, in this case driven by smart phone adoption and 4G technology,  has significantly moved both Sydney and Melbourne up the rankings for Information Exchange, measured by Google access.

 

Exciting opportunities close to home have emerged for Australian businesses as Jakarta, followed by Manila, were ranked one and two as the world's emerging cities with the best outlook.

 

Australia is clearly fortunate to have the potential afforded by 2 such global cities.  Leveraging this potential to shape the next phase of Australia's growth and development is the challenge for the next 20 years.

 

Findings from the 2014 Global Cities Index
Consistent with previous editions of the Global Cities Index, New York, London, Paris and Tokyo lead the ranking. Among the top 20 cities, seven are in the Asia Pacific region (Tokyo, Hong Kong, Beijing, Singapore, Seoul, Sydney, and Shanghai), seven are in Europe (London, Paris, Brussels, Madrid, Vienna, Moscow and  Berlin), and six are in the Americas (New York, Los Angeles, Chicago, Washington DC, Toronto, and Buenos Aires).

Beijing, in eighth position, breaks into the top ten for the first time, thanks to an increase in the number of Fortune 500 company headquarters, international schools, broadband subscribers, and museums. Buenos Aires becomes the first Latin American city to join the top 20, based on the strength of its human capital and cultural scene.

Looking at the trends across the five key dimensions over the 2008 - 2014 Global Cities Index rankings reveals several interesting findings.  Cities are becoming more global. The scores for cities tracked since 2008 have increased by 8 percent on average. Furthermore, the lower-ranked cities are slowly but steadily closing in on the leaders.  Also, Human Capital scores have shown the largest overall increase. The distance between the highest and lowest ranked cities in this dimension is lower than any other dimension, driven by major increases in tertiary degrees and the increased size of foreign-born populations in many cities.


The tables below provide the complete rankings for the top 20 cities in the Global Cities Index and the Emerging Cities Outlook.

 

AT Kearney table

 

Findings from the Emerging Cities Outlook 2014

The Emerging Cities Outlook (ECO) measures the likelihood that a city will improve its global standing over the next 10 to 20 years. The ECO focuses on the leading indicators of Business Activity, Human Capital, and Innovation.

 

Andres Mendoza Pena, A.T. Kearney principal and co-author of the report commented, “As physical distances become less relevant and global competition intensifies, cities in low- and middle-income countries will increasingly jockey for position with one another and with cities in higher-income countries.”

 

Jakarta, Manila, and Kuala Lumpur’s strong showing on the ECO signals that select cities in numerous countries throughout eastern Asia are laying solid groundwork to become global cities and eventually raise their ranking in the Global Cities Index.

 

Looking at Africa, Addis Ababa is the third most likely city to advance its global position driven by significant increases across the leading indicators. Nairobi is ranked ninth, driven by increases in business activity.

 

Rio de Janeiro and Bogota join Sao Paulo as Latin American cities among the top ten in the ECO.

New Delhi, in fifth place, is the south Asian city best poised to increase its position, followed by Mumbai in eighth position and Bangalore in 11th, as Indian cities appear to be reaping the benefits of the country’s booming service industry and its greater openness to the global economy.

 

For a copy of the report summarizing the A.T. Kearney Global Cities Index and the Emerging Cities Outlook go to www.atkearney.com.

 

2014 A.T. Kearney Global Cities Index and the Emerging Cities Outlook Methodologies

The A.T. Kearney Global Cities Index ranks cities according to 26 metrics across five dimensions including Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement.

 

The Emerging Cities Outlook examines 34 cities located in countries that the World Bank classifies as low or medium income. It measures the likelihood that a city will improve its global standing over the next 10 to 20 years. Cities are ranked based on how long it would take any given city to reach the global leader in each of 10 leading indicators of Business Activity, Human Capital, and Innovation.

 

Together they create an unmatched perspective into global cities by:

·         Providing a view of current performance and future potential

·         Identifying trends from six years of historical results

·         Analyzing the performance of 84 cities representing all regions

·         Measuring a holistic set of metrics and indicators (mostly) at a city level

 

About A.T. Kearney

A.T. Kearney is a global team of forward-thinking partners that delivers immediate impact and growing advantage for its clients. We are passionate problem solvers who excel in collaborating across borders to co-create and realize elegantly simple, practical, and sustainable results. Since 1926, we have been trusted advisors on the most mission-critical issues to the world’s leading organizations across all major industries and service sectors. A.T. Kearney has 58 offices located in major business centers across 40 countries.

 

If you would like to speak with a local Australian A.T.Kearney Partner, please contact:

Marcy Beitle

Partner and Australian Unit Leader

(02)9259 1999

 

or

Narelle Stevens

Operations Manager
(03)9648 8541
0413 005 487

 

 

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