Bolstered by its economic stability, its legal and political framework, Shanghai demonstrates its importance as a global growth center.
FRONT PAGE
SiteSearch
About us
Directories
UBS: Most expensive and richest cities
ECA: Most expensive cities
EIU: Most expensive cities
Mercer: Most expensive cities
World's richest cities (GDP)
World's top cities
Richest cities (earnings)
World's best financial cities
Urban population growth from now to 2030
Global Cities Index
Most powerful cities
European growth cities 2009
Europe's top city brands
World's top start-up locations
Real estate USA
Real estate Europe
European business cities
Best world cities to live in
World's largest cities
and their mayors 2010
City Mayors reports news from towns and cities around the world. Worldwide | Elections | North America | Latin America | Europe | Asia | Africa | Events |
Mayors from The Americas, Europe. Asia, Australia and Africa are competing for the annual World Mayor Award. More
City Mayors ranks the world’s largest as well as richest cities and urban areas. It also ranks the cities in individual countries, and provides a list of the capital cities of some 200 sovereign countries. More
City Mayors reports political events, analyses the issues and depicts the main players. More
City Mayors describes and explains the structures and workings of local government in Europe, The Americas, Asia, Australia and Africa. More
City Mayors profiles city leaders from around the world and questions them about their achievements, policies and aims. More
City Mayors deals with economic and investment issues affecting towns and cities. More
City Mayors reports on how business developments impact on cities and examines cooperation between cities and the private sector. More
City Mayors describes and explains financial issues affecting local government. More
City Mayors lists and features urban events, conferences and conventions aimed at urban decision makers and those with an interst in cities worldwide. More
City Mayors reports urban environmental developments and examines the challenges faced by cities worldwide. More
City Mayors reports on and discusses urban development issues in developed and developing countries. More
City Mayors reports on developments in urban society and behaviour and reviews relevant research. More
City Mayors deals with urban transport issues in developed and developing countries and features the world’s greatest metro systems. More
City Mayors examines education issues and policies affecting children and adults in urban areas. More
City Mayors investigates health issues affecting urban areas with an emphasis on health in cities in developing countries. More
City Mayors examines the importance of urban tourism to city economies. More
City Mayors examines the contributions history and culture make to urban society and environment. More
City Mayors describes the history, architecture and politics of the greatest city halls in the world. More
City Mayors invites readers to write short stories about people in cities around the world. More
City Mayors questions those who govern the world’s cities and talks to men and women who contribute to urban society and environment. More
City Mayors profiles national and international organisations representing cities as well as those dealing with urban issues. More
City Mayors reports on major national and international sporting events and their impact on cities. More
City Mayors lists cities and city organisations, profiles individual mayors and provides information on hundreds of urban events. More
London remains number one
but the future belongs to Asia
A survey by MasterCard
10 June 2008: London remains the world's best financial and commercial city, the future, however, appears to belong to Asia and Eastern Europe, whose cities represent the fastest rising regions in the latest commercial and financial research by MasterCard. Shanghai had the largest jump in overall rank - moving eight places from 2007 to 2008 - bringing it into the top 25 of this year's index and demonstrating the growing importance of Asian cities to a progressively urbanized global economy. Moscow, a gateway for the fast-growing Eastern European region, showed the greatest improvement in actual Index score and had the most significant gain on London year-over-year.Further confirming the importance of Asia and Europe in the global economy, this year's study also marks the displacement of Los Angeles from the top 10, making New York and Chicago the sole North American cities in the top grouping. The decline of Los Angeles in rank is due, in part, to factors around its role in the global financial services network, as well as the rise of European cities in the area of knowledge creation.
The world's best financial cities
|
2008 Rank
|
2007 Rank
|
City
|
|
1
|
1
|
London |
|
2
|
2
|
New York |
|
3
|
3
|
Tokyo |
|
4
|
6
|
Singapore |
|
5
|
4
|
Chicago |
|
6
|
5
|
Hong Kong |
|
7
|
8
|
Paris |
|
8
|
7
|
Frankfurt |
|
9
|
9
|
Seoul |
|
10
|
11
|
Amsterdam |
|
11
|
16
|
Madrid |
|
12
|
14
|
Sydney |
|
13
|
12
|
Toronto |
|
14
|
15
|
Copenhagen |
|
15
|
19
|
Zurich |
|
16
|
17
|
Stockholm |
|
17
|
10
|
Los Angeles |
|
18
|
*
|
Philadelphia |
|
19
|
*
|
Osaka |
|
20
|
25
|
Milan |
|
21
|
13
|
Boston |
|
22
|
*
|
Taipei |
|
23
|
24
|
Berlin |
|
24
|
32
|
Shanghai |
|
25
|
20
|
Atlanta |
|
26
|
30
|
Vienna |
|
27
|
26
|
Munich |
|
28
|
18
|
San Francisco |
|
29
|
21
|
Miami |
|
30
|
29
|
Brussels |
|
31
|
31
|
Dublin |
|
32
|
27
|
Montreal |
|
33
|
*
|
Hamburg |
|
32
|
22
|
Houston |
|
35
|
*
|
Dallas |
|
36
|
23
|
Washington DC |
|
37
|
28
|
Vancouver |
|
38
|
33
|
Barcelona |
|
39
|
*
|
Düsseldorf |
|
40
|
35
|
Geneva |
|
41
|
34
|
Melbourne |
|
42
|
36
|
Bangkok |
|
43
|
*
|
Edinburgh |
|
44
|
37
|
Dubai |
|
45
|
44
|
Tel Aviv |
|
46
|
*
|
Lisbon |
|
47
|
43
|
Rome |
|
48
|
45
|
Mumbai |
|
49
|
41
|
Prague |
|
50
|
38
|
Kuala Lumpur |
|
51
|
*
|
Moscow |
|
52
|
40
|
Budapest |
|
53
|
39
|
Santiago |
|
54
|
42
|
Mexico City |
|
55
|
*
|
Athens |
|
56
|
48
|
Sao Paulo |
|
57
|
46
|
Beijing |
|
58
|
47
|
Johannesburg |
|
59
|
49
|
Warsaw |
|
60
|
*
|
Shengzhen |
|
61
|
*
|
New Delhi |
|
62
|
*
|
Bogota |
|
63
|
*
|
Buenos Aires |
|
64
|
*
|
Istanbul |
|
65
|
*
|
Rio de Janeiro |
|
66
|
*
|
Bangalore |
|
67
|
*
|
St Petersburg |
|
68
|
*
|
Jakarta |
|
69
|
*
|
Riyadh |
|
70
|
*
|
Cairo |
|
71
|
*
|
Manila |
|
72
|
*
|
Chengdu |
|
73
|
*
|
Chongqing |
|
74
|
*
|
Beirut |
|
75
|
*
|
Caracas |
Key findings from the MasterCard survey:
Asia: Eight Asian cities assume positions in the top 25 Centers of Commerce. Tokyo, Singapore, Seoul, Sydney, Hong Kong, Osaka, Taipei and Shanghai rank among the top 25 Centers of Commerce, confirming Asia's prominent role in the global economy. Shanghai jumps eight spots to secure its place among leading global cities. Shanghai, among the world's most populous and fastest-growing cities, moves into the top 25 from number 32 in 2007. Bolstered by its economic stability, its legal and political framework, an increased quality of life and China's booming economy, Shanghai demonstrates its importance to both Chinese and Asian economies as a global growth center.
Europe: London maintains its stronghold as the number one Center of Commerce. With a strong and secure economy, vibrant financial markets and a legal and political framework that supports high levels of international trade, London again secures the top spot in the Centers of Commerce Index in 2008. The city significantly outperforms its rivals in most dimensions, with livability as the most prominent area for improvement when compared to other top cities.
Madrid continues to be a financial leader, rising to the top five Centers of Commerce in Europe. Madrid continues its upward trajectory as a key European city, rising from its 2007 spot at number 16 to number 11 globally and from number 6 to the number 5 spot in Europe. Madrid's stable GDP, exchange rate and strong bond market, coupled with a high standard of living, place this city in the company of Europe's most prominent cities: London, Paris, Frankfurt and Amsterdam.
Amsterdam emerges as an important European city. A historically innovative financial center, where the concept of stock ownership was invented, Amsterdam rises to become the number 4 city in Europe in the global top 10. With one of the world's most stable economies, high standard of living and strong legal and political framework, Amsterdam's rise illustrates the continued importance of Europe as a dominant global player.
Moscow improves the most in actual Index score. This gain is reflective of Moscow's rising economy and role as a source for key commodities in Eastern Europe. As the city with the most significant gain on London year-over-year, it demonstrates the rising role of Eastern Europe in the global economy.
Latin America: Latin America continues to become more global and more competitive. Seven cities in Latin America placed among the top 75 Worldwide Centers of Commerce, with Santiago leading the region as a result of its strong business climate and stable legal and economic system. Sao Paulo also scores well and sits among the top 20 cities globally in terms of financial market volume.
Bogota claims its position as one of the world's top five advancing cities. Bogota's stabilized economy and increased quality of life make this one of the cities to watch in Latin America.
Middle East: Strong business climate makes Dubai the leader in the Middle East. As the region's air and cargo traffic hubs, Dubai claims a flexible business climate that makes it optimal for growing companies. Dubai's political and legal framework also makes it a compelling city for conducting global business in the Middle East.
North America: New York and Chicago maintain regional primacy. The only two North American cities in the top 10 globally, both New York and Chicago benefit from strong financial markets and a strong U.S. business climate.
Vancouver is the world's most livable city. In addition to Vancouver, two other Canadian cities, Toronto and Montreal, also reside in the top 20 cities for livability, which evaluates personal freedom, climate, leisure activities and other quality-of-life factors.
Los Angeles drops from top ten. The fall of Los Angeles to number 17 in 2008, compared to number 10 in 2007, is, in part, due to factors around its role in the global financial services network, as well as the rise of European cities in the area of knowledge creation. However, the city ranks number 4 in the North American region behind New York, Chicago and Toronto.
Methodology: The MasterCard Worldwide Centers of Commerce Index is compiled from research by a panel of eight independent economic, urban development and social-science experts from leading academic and research institutions around the world, led by Dr. Michael Goldberg, Program Director, MasterCard Worldwide Centers of Commerce Program. To form the Index, the panel identified 75 cities around the world that met their initial criteria. Cities were then rated on seven key dimensions as follows:
• Legal and political framework
• Economic stability
• Ease of doing business
• Financial flow
• Business center
• Knowledge creation and information flow
• Livability
The process entailed measuring a number of carefully weighted, relevant indicators and sub-indicators that aggregate available data on region-specific procedures, costs and ratings, as well as criteria related to quality of life, access to technology, city livability, transportation/logistics and knowledge creation and creativity. The panel evaluated a total of seven dimensions comprised of 43 indicators and 74 sub-indicators to derive an Index score for each city, a process that exceeds traditional measures used to gauge worldwide financial and business activity.
Related research
| THE MOST EXPENSIVE AND RICHEST CITIES IN THE WORLD UBS survey (2011): Most expensiv and richeste cities (Intro) | World's most expensive cities (table) | Richest cities by personal earnings (table) | Richest cities by purchasing power (table | The iPod index | ECA International survey (2011): Introduction | Table: World | Table: Europe | Table: Asia | Mercer survey (2011): Most expensive cities EIU survey (2012): Most expensive cities RICHEST CITIES BY GDP Introduction | 150 richest cities in 2005 | 150 richest cities in 2020 | Europe's richest cities | |
THE LARGEST CITIES IN THE WORLD AND THEIR MAYORS 2010
Introduction
Cities by size: 1 to 150 | 151 to 300 | 301 to 450 | 451 to 550 |
Cities in alphabetical order: A to D | E to L | M to R | S to Z |
Cities by countries: A to D | E to L | M to R | S to Z |
