According to the Brand Finance’s Global City Index 2024, London(the United Kingdom, UK), has again emerged as the world’s top city brand for the 2nd consecutive year, with an overall score of 90.9 out of 100.
- It is followed by New York City(the United States of America, USA) and Paris(France) secured 2nd and 3rd position respectively.
About Brand Finance Global City Index 2024:
i.This the 2nd edition of the index, which provides the most comprehensive global survey of city perceptions, collecting opinions from more than 15,000 respondents across 20 countries worldwide.
ii.The index assessed the performance of top 100 city brands based on the ratings given by respondents on key performance indicators: familiarity, reputation, and consideration.
- These indicators show how strongly these cities are perceived as places people would want to live, work, study, visit, retire, and invest in.
iii.The respondents chose from 45 attributes grouped under 7 key pillars such as: Business & Investment, Liveability, Cultural & Heritage, People and Values, Sustainability & Transport, Governance, Education and Science.
Top 5 Cities :
| Rank | City | Country | Overall Score |
|---|---|---|---|
| 1st | London | United Kingdom (UK) | 90.9 |
| 2nd | New York City | United States of America (USA) | 89.8 |
| 3rd | Paris | France | 87.8 |
| 4th | Tokyo | Japan | 86.8 |
| 5th | Dubai | United Arab Emirates (UAE) | 86 |
Key Highlights:
i.London has secured 3rd rank in two key performance indicators of the index: familiarity and reputation.
- In contrast , its performance on “consideration” indicator is less robust with overall rank of 19th position, despite its strong performances in the consideration to visit (2nd) and consideration to study (6th).
- Globally, London has been ranked at 2nd spot in the “Education & Science” pillar.
ii.New York City has retained its 2nd position in the index, with an overall score of 89.8. It has also outperformed other countries in the index as the 2nd most familiar city globally.
iii.As per the index, Paris with an overall score of 87.8 has performed well on indicators: familiarity (1st), and reputation (14th) but struggles in overall consideration ranking (38th).
- But, it still performs strongly in consideration to visit (3rd), mainly due to its unparalleled cultural and heritage offerings and the global recognition it received by hosting the 2024 Olympics.
- Paris topped in “Cultural and Heritage” pillar of the index for its great museums and art galleries such as Louvre, the Pompidou Centre, among others. It has also ranked at 2nd position for beautiful architecture like: the Arc de Triomphe, Notre Dame and the Eiffel Tower.
- It has been ranked at 48th position in the “Business & Investment” pillar due to slow economic growth.
iv.Tokyo, Japan has improved its overall ranking in the index by 3 places, from 7th (in 2023) position to 4th (in 2024).
- Its ranking in “reputation” indicator has improved significantly Year-on-Year (Y-o-Y), to 13th position in 2024 and has ranked at 6th position globally in familiarity indicator.
- As per the index, this positive shift in perception could mainly be attributed to the rising trend of travellers, especially among GenZ and Millennial, selecting Tokyo as their destination in 2024.
- It has ranked at 7th position for “Business and Investment” supported by its skilled workforce (1st) and strong and stable economy (3rd).
v.According to 2024 Global City Index, Dubai, the United Arab Emirates (UAE) has emerged as the highest-ranked city in West Asia and Africa region for the 2nd consecutive year.
- Overall, Dubai has improved its ranking in the index by 4 places, to 5th (in 2024) with a score of 86.
- It has secured 1st position in “reputation” indicator (up from 7th in 2023), followed by Sydney (Australia) and London (the UK) ranked at 2nd and 3rd position, respectively.
- It has improved its ranking for consideration for working locally (up from 16th to 8th) as well as in consideration to work remotely (up from 24th to 4th).
- Dubai was recognised as 2nd most significant city globally due to its strategic role as an international trade hub and its strong economy, and has surpassed London (3rd).
vi.Among the top 20 cities in the “Cultural and Heritage” pillar in the index, 17 cities were from the European region.
- Cities like: Paris, Rome (Italy), London, Vienna (Austria) and Milan (Italy) were among the top 5 cities in the Culture and Heritage pillar.
vii.Singapore city (Singapore) ranked 6th among top 10 city brands globally with overall score of 85.4, followed by Los Angeles (the USA), Sydney (Australia), San Francisco (the USA) and Amsterdam(the Netherlands) ranked at 7th , 8th , 9th and 10th position respectively.
About Brand Finance:
Founder and Chief Executive Officer (CEO)- David Haigh
Headquarters- London, the United Kingdom (UK)
Established- 1996
