London has been ranked as the world’s number one city of opportunity by PwC.
The firm’s index measures 30 leading cities across the globe using indicators such as transportation and ease of doing business, demographics and liveability. Combining these social and economic factors, the UK capital came out on top, underlying the city’s strength in the coming months and years, as the UK prepares to leave the European Union.
Indeed, this is the second time in a row that London has claimed pole position in PwC’s league. Singapore came second, followed by Toronto, Paris and Amsterdam. Overall, Europe accounted for four of the top 10 cities.
The report concludes that cities succeed not only when they perform well economically, but when they succeed in providing a range of lifestyle features, including good quality of life, senior wellbeing, housing, and disaster preparedness—each of which demonstrates a strong relationship with top cities in the study.
Hazem Galal, Cities and Local Government Sector Global Leader, says: “The consistent performance of cities like London, Paris, Singapore and New York within the top ten of Cities of Opportunity shows that it’s not only economic prosperity that drives success. Good quality of life in the city plays a fundamental role in their ability to attract and retain the globally mobile talent they need. The continued urban competitiveness of these cities rests on continuing collaboration between the businesses, policymakers and citizens who build them.”
Here are PwC’s top five cities of opportunity:
Among the top three in six indicators covered by the study, including intellectual capital and innovation; technology readiness; city gateway; demographics and liveability; economic clout; and ease of doing business.
An analysis of corporate total tax rate, personal rate, and tax efficiency shows that Singapore, along with Dubai and Hong Kong, have the lowest rates and highest efficiency collectively.
Does particularly well in categories that speak to the daily needs and concerns of urban residents – finishing second in health, safety and security; second in cost; and third in sustainability and the natural environment (tied with Seoul).
Paris performed strongly across the measures, the only city to make the top 10 in 9 out of 10 indicators.
The city finished in the top five in three indicators (intellectual capital and innovation; technology readiness; and sustainability and the natural environment).