The world has 196 countries and 4,037 cities. Each country and its cities have something unique to offer to travelers, workers and companies. The Universe of City Indices 2017 compiled by JLL, an investment management company, has just produced it's summary of the "Best Run Cities" in the world.
According to their report, there are 10 things that really define a "successful" city.
"Top of the list is the ability to foster innovation pathways," the report states. "This means hosting tech start-ups, corporate R&D, or having knowledge-intensive industries."
Attracting and retaining talent is also a huge factor that impacts the success of a city. Uncovering hidden talent doesn’t just mean having a pool of well-educated, experienced people. Cities must also have workers with a range of vocational and specialist skills, and be able to promote diversity and inclusiveness.
According to JLL, the "Big Seven Cities" in the world are:
- New York
- Hong Kong
Of the Big Seven, London and Paris are the best at attracting talent.
The report goes on to discuss those cities that are hot on the heels of the Big Seven.
Those right behind and gaining quickly are: Los Angeles, Shanghai, Beijing, Amsterdam, Chicago, San Francisco, Toronto, Madrid, Sydney and Washington, D.C.
Beijing and Shanghai have been helped in no small part by China’s ambitious Belt and Road Initiative. Chinese investment along the Silk Road is soaring, and this marks the next step in these cities’ global ambitions, according to the report.
Here at Plus Relocation, our client mobility volumes by destination or host cities are definitely representative of the findings from this report. All 17 of the cities mentioned above are among our most frequented talent hot-spots.
In summary, the report states:
"Finally, no city could compete without going global. New indices are emerging from regions as diverse as Latin America, Asia and Africa, meaning that the Big Seven could look very different a few years from now."
What is your prediction...which city will break into the Big Seven first?
They’re innovative, smart and forward-looking. They attract people, businesses and investment. These are just some of the reasons that London, New York, Paris, Singapore, Tokyo, Hong Kong and Seoul are the seven best-run cities in the world, according to The Universe of City Indices 2017. The league table, compiled by investment management company JLL, has remained more or less the same since its launch in 2013. But there are changes on the horizon.