Melbourne, the second-largest city in Australia after Sydney, is known for its lively cultural scene and economic dynamism. But how does Australia’s “cool kid” perform in economic competitiveness and innovation, global influence, livability, and urban sustainability, according to leading rankings and indices?
Let’s take a closer look at:
- Economic competitiveness and financial performance
- City brand strength and global attractiveness
- Livability: Melbourne’s appeal for talent, visitors, and locals
Economic Competitiveness
The Global Financial Centres Index 34 ranks Melbourne 39th, dropping eleven positions from the previous ranking—currently between Montreal (38th) and Stockholm (40th). It holds the 12th position in the Asian/Pacific region.
According to 2thinknow’s Innovation Cities Index 2022-2023, Melbourne ranks 23rd, a jump of 10 positions from the previous ranking. The city now sits between Dallas-Fort Worth (22nd) and Montreal (24th).
City Brand Strength and Global Reputation
According to Brand Finance’s City Index 2023, Melbourne ranks 16th globally with a score of 72.1/100, sitting between Chicago (15th) and Zurich (17th).
Resonance’s 2023 World’s Best Cities Report ranks Melbourne 31st overall, scoring 15th for University and 15th for Google Search. It currently sits just behind Munich (30th) and above Lisbon (32nd).
Kearney’s 2023 Global Cities Report ranks Melbourne 9th, a drop of one position from the previous ranking, sitting right behind Los Angeles (8th) and above Hong Kong (10th). The city also ranked 34th in the same firm’s Global Cities Outlook, a drop of two positions since the previous ranking.
The Global Power City Index ranks Melbourne 9th. In terms of function-specific rankings, the city fares 23rd in Economy, 16th in R&D, 22nd in Cultural Interaction, 17th in Livability, 6th in Environment, and 17th in Accessibility. Most notably, Melbourne ranks 1st for Urban Greenery and is highly regarded among Residents (2nd), Skilled Workers (9th), Corporate Executives (20th), and Visitors (19th).
How Attractive for Talent, Investors, Visitors?
The Mercer Quality of Living City Ranking places Melbourne 20th, tying with Montreal. The same firm’s Cost of Living Ranking finds Melbourne 71st, sitting just behind Noumea (70th) and above Portland (72nd). The cost of living survey reports that factors such as currency fluctuations, cost inflation for goods and services, and instability of accommodation prices are key in determining the cost of expat packages for employees on international assignments.
According to the Best Urban Cities for Digital Nomads ranking by Spot a Home, Melbourne ranks 20th out of 56 cities globally. It currently sits between Montreal (19th) and Berlin (21st).
Lastly, Melbourne is home to one of the best universities in the world. The Times Higher Education ranking considers the University of Melbourne 37th, whereas the QS World University ranking puts it at a very strong 17th place.
Urban Sustainability
The Arcadis Sustainability City Index 2022 ranks Melbourne 60th overall, sitting between Houston (59th) and Budapest (61st). Melbourne’s pillar rankings are as follows: Planet 50th, People 61st, and Profit 43rd. Its strengths are health and income equality, while affordability, transport, and Wi-Fi are areas that could be improved.
Last updated in January 2024. Explore more city profiles here.
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Disclaimer: The information in this article is intended to provide a general overview of Melbourne’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided ‘as is’ without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
