🗞️Paris and San Jose Shine in Quality of Life in Global Cities Index

Oxford Economics today unveils its Global Cities Index, a revolutionary project designed to offer unmatched insights into the complex nature of urban environments around the globe. This index, created by a group of eminent economists, has the potential to completely change our understanding of the world's most prosperous cities. The index is genuinely global in nature, encompassing the 1,000 biggest cities worldwide in both developed and developing nations spanning six continents. There are a total of 27 indicators spread across five different categories. By utilising Oxford Economics' Global Cities Service in conjunction with additional publicly accessible datasets, the index facilitates the direct evaluation of cities worldwide based on various metrics.

The index contains five categories: Economics, Human Capital, Quality of Life, Environment, and Governance, which are aggregated to create a composite score for each city. By analysing these five dimensions in depth, the Global Cities Index provides a nuanced understanding of each city's strengths and areas for improvement, empowering policymakers, investors, employers, and residents to make informed decisions.

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Mark Britton, Director of City Services at Oxford Economics, says, "Cities are the epicentres of human civilisation, where innovation, diversity, and progress converge. However, the complexity of urban dynamics often obscures our understanding of what makes a city truly successful.

“Our Global Cities Index provides a consistent framework for assessing the strengths and weaknesses of the largest 1,000 cities across the world, and when coupled with our forecasts, it enables organisations and policymakers to make more informed strategic decisions.”

"While the Index scores cities based on how they are performing now, there is potential for significant movement within the rankings in the coming years, as the 1,000 Global Cities navigate the concurrence of several global trends. These include economic turbulence, political instability, high debt levels, trends in globalisation, pressures on healthcare and housing, and the effects of climate change. “There are several global trends that have the potential to buck these rankings,” says Mr Britton.

Leading the rankings in 2024 is New York, which also takes the top spot in the Economics category. It has the largest economy of any city in the world by far and has benefitted from stable economic growth in the decade preceding the Covid-19 outbreak. London is ranked second thanks to it topping the Human Capital category. The UK capital has the most globally ranked universities of any city in the world, and close to the most global corporate headquarters.

The next three cities—San Jose, Tokyo, and Paris—all have top Economics and Human Capital scores as well. Furthermore, San Jose and Paris have strong scores in the Quality of Life category. Rounding out the list are Seattle, Los Angeles, San Francisco, Melbourne, and Zurich, and the diversity in characteristics of these cities emphasises that there is no single formula to become a top city globally

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