Global City Index

Global City Index

Piter Biswaspiterbiswas11@gmail

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The Global Cities Index (GCI) provides a comprehensive ranking of the leading global cities from around the world. It is designed to track the way cities plan as their populations grow and the world continues to shrink.“What’s most important about the Global Cities Index is that it provides perspective at a time when the value of globalization is being called into question. If global conditions worsen, you will see growth in people migrating to cities for what they see as better economic opportunities.” _ Chairman of A.T. Kearney.

What is Global City Index?

Source: A T Kearney Report 2008, 2010, 2012, 2014.

• Globalization• Transnational Corporation (the TNC)• A New Spatial Division of Labor

*(1) Production has been decentralized to the global periphery

*(2) Command centers” have emerged in a few key places we call “global cities”. – Three tiers• 1st tier• 2nd tier• 3rd tier

The Global City



Interdependency

City BrandingDeveloping a shared vision of the city in years to come – create distinction on the global landscape ( symbolic capital)Global CitiesSmart CitiesDigital CitiesEducating Cities Science CitiesKnowledge CitiesCreative CitiesHealthy Cities European Cities of Culture Learning Cities, Learning Regions. Learning

CommunitiesSource: A T Kearney Report 2008, 2010, 2012, 2014.

What makes a Global City?

Globalization is the increasing integration of economics, societies and cultures around the world.Put another way, it is the denationalization of economics and culture, a transfer of power and influence from national states to global markets and global taste-makers.It is a process driven by technology that leaps frontiers.It is symbolized by movement – of money, goods, people, ideas and jobs.Globalization is also about speed – speed in communications, speed in transaction, and the speed with which people and capital move.Proximity is no longer required, although as our data show, it still helps – and proximity occurs in cities.


The Global Cities Index, first realized in 2008, examines cities along five dimensions.• Business activity• Human capital• Information exchange• Cultural experience• Political engagement.

To call a global city your own suggests that the ideas and values of your metropolis shape the world. And to a large extent that’s true. The cities that host the biggest capital markets, elite universities, most diverse and well-educated populations, wealthiest multinationals and most powerful international organizations are connected to the rest of the world in ways unlike any other. But, more than anything, the cities that rise to the top of the list are those that continue to forge global links despite intensely complex economic environments.

Global City Index 2008


The results prove there is no such thing as a perfect global city, for no city dominated all dimensions of the Index. However, a few came close. New York emerged as the number one global city this year (2008), followed by London, Paris and Tokyo. Although the winners may be the usual suspects, they have plenty of new competition. First runner-up London won in the cultural experience category, with Paris and New York not far behind. Third-ranked Paris led the world in the information exchange category, while Tokyo took the fifth spot primarily due to its strong showing in business activity. And, although it finished 11th overall, Washington, D.C., easily beat out New York, Brussels and Paris as the leader in political engagement.

The Winner’s Circle


Global Cities Index 2010

The 2010 Global Cities Index ranks 65 cities from around the world. New York and London once again top the list, followed by Paris, Tokyo, Hong Kong, Los Angeles, Chicago, and Seoul. Each of these cities excels across multiple dimensions.This year, we added the Emerging Cities Outlook to our analyses, which examines the strengths and weaknesses of cities in developing markets by examining the rates of change and key factors that will affect their ability to capitalize on future globalization. The Outlook highlights the vast potential of Beijing and Shanghai, thanks to a thriving economy, a growing middle class, and infrastructure improvements.


The Comparison of 2008 and 2010The index shows that the average globalization score of most groups of cities increased from 2008 to 2010, although scores between the highest and lowest ranked cities widened.


Top Global Cities of today and Rising Cities of tomorrow


Asian cities are rising stars


What the 2010 Index shows is that Asian Cities are on the move and may be the new claims to global prominence.Of the to 10 cities, five are in the Asia-Pacific region (Tokyo, Hong Kong, Singapore, Sydney and Seoul).China and India are knocking at the door with lots of investments and jobs from the rest of the world.They are educating their students and building their infrastructure for an Asian future.Their aim is no less than to be the future drivers of a globalized world.Many of these cities would have placed higher had we not used censorship as a criterion of global openness.

The BRICs


Few now doubt the ascendancy of Brazil, Russia, India and China: 20 years ago, only Tokyo and Hong Kong, may be Singapore, would have made the Global Cities list at all.

Business activityThe 2010 data for the index shows that despite worldwide turmoil, financial hubs did not fall as dramatically in the rankings as might have been expected.

Human capitalCities thrive and prosper through investment in brain power. Our human capital dimension looks at how educated and diverse a population is that resides in a city.

Information exchangeFree flow of information and easy access to it may be the most critical force driving global development and innovation. Whether it’s a Bangladeshi farmer checking market prices via his cell phone or a hedge fund manager monitoring news from a New York office skyscraper.

Cultural experienceThe difference between a grinding industrial urban enclave and a top ranked global city may well be the cultural experience of the population.

Political engagementThe fifth dimension of the study evaluates the reach and connection of each city with the rest of the world in the political arena. It is no surprise that Washington, D.C. and New York maintain their rankings as the leaders in political engagement, with Brussels close behind at 3rd.

ConclusionAny major city needs to achieve and sustain a financial base that attracts and connects with the rest of the world.In order to expand its capital markets, flow of goods, and attractiveness to international investment, a city that aspires to global reach must invest in many areas, particularly those most critical to success in good times and bad.The ability to attract and hold a well educated and diverse population, the infrastructure to exchange the free flow of information.The societal willingness to encourage commentary and criticism, the power of culture to enhance lifestyle and global dialogue.The ability to be part of a worldwide conversation on policy are all key to achieving to echelon performance.

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Global City Index

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