New York City, considered America’s cultural mecca and global financial hub, is world-renowned for its landmarks and lifestyle. It was also one of the first cities to develop a formalised branding strategy, having benefited greatly from the “I Love New York” campaign, developed by the state of New York in 1977 (the city of New York doesn’t actually own the rights, nor does it use the slogan itself).
But how does New York City fare according to international rankings measuring economic performance and sustainability, city brand strength, and reputation?
Let’s take a closer look at:
- New York City’s competitiveness and financial performance
- Its city brand strength and reputation
- Livability and urban sustainability
Economic Competitiveness and Financial Performance
The Global Financial Centres Index 34 continues to rank New York City 1st. New York City is ranked as the 8th centre most likely to become more significant. It ranks 1st in all areas of competitiveness: Human Capital, Reputational & General, Business Environment, Infrastructure, and Financial Sector Development. It also leads all of the following industry sectors: Investment Management, Insurance, Government & Regulatory, Finance, Fintech, Professional Services, Trading, and Banking.
According to 2thinknow’s Innovation Cities Index 2022-2023, New York City continues to rank 3rd. The city sits right behind London (2nd) and above Paris (4th).
City Brand Strength and Reputation
According to Brand Finance’s City Index 2023, New York City ranks 2nd globally with a score of 83/100. NYC also ranks 3rd globally in familiarity and secured the 2nd spot in three out of the seven key dimensions: invest, study, and visit. Moreover, NYC ranks 2nd as the best city to invest in and 1st for city of global significance, easy to do business in, and strong and stable economy attributes. It has also been recognised as the 2nd best city in the world to study, behind London.
It holds the 2nd position for great universities and leader in science and technology attributes and comes 4th for great private schools, but falls short on great publicly funded schools, ranking 41st overall.
NYC is perceived as the least affordable city in the world according to this ranking. Lastly, the city comes 1st for great shopping, restaurants and nightlife and 2nd for great theatres and music venues, home to Fifth Avenue shops and Broadway theatres. Consequently, NYC ranks as the 2nd best city in the world to visit.
Resonance’s 2023 World’s Best Cities Report ranks New York City 3rd, sitting between Paris (2nd) and Tokyo (4th). It scored the following in the Place Power Score subfactors: 12th in Prosperity, 2nd in Lovability, and 6th in Livability. It also ranked in the following Place Power Highlights: 1st for Google Trends and 2nd for Culture.
Kearney’s 2023 Global Cities Report continues to rank New York City 1st. Moreover, the city ranks 17th in the Global Cities Outlook, a drop of 11 positions since the previous ranking.
The Global Power City Index ranks New York City 2nd. In terms of function-specific rankings, the city ranks 1st in Economy, 1st in R&D, 2nd in Cultural Interaction, 38th in Livability, 28th in Environment, and 3rd in Accessibility. New York City ranks 2nd in Variety of Workplace Options, 3rd in Winners of Prizes in Science and Technology, 5th for Nightlife Options, 11th for Number of Retail Shops, 30th for Urban Greenery, and 38th for Average Driving Speed. Lastly, New York City is positioned 2nd for Highly Skilled Workers, 2nd for Corporate Executives, 31st for Residents, and 6th for Tourism.
How Appealing for Talent, Investors, Visitors?
The Mercer Quality of Living City Ranking places New York City 40th, between Lisbon (39th) and Boston (41st). The Mercer Cost of Living Ranking ranks New York City 6th, a jump of one position from the previous ranking. It now sits behind Basel (5th) and above Bern (7th). 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 assignment.
According to the Best Urban Cities for Digital Nomads ranking by Spot a Home, New York City ranks 54th out of 56 global cities. It currently sits between Tokyo (53rd) and Singapore (55th).
Lastly, New York City is home to some of the best universities in the world. According to The Times Higher Education ranking, Columbia University ranks 17th, Cornell University 20th, and New York University 27th. The QS World University ranking ranks Cornell 13th, Columbia University 23rd, and New York University 38th.
Urban Sustainability
The Arcadis Sustainability City Index 2022 ranks New York City 15th overall, between Los Angeles (14th) and Frankfurt (16th). Its pillar rankings are as follows: Planet 36th, People 42nd, and Profit 14th.
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 New York City’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.