New York City – Economic Performance, Brand Strength and Reputation

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 1^st. New York City is ranked as the 8^th centre most likely to become more significant. It ranks 1^st 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 3^rd. The city sits right behind London (2^nd) and above Paris (4^th).

City Brand Strength and Reputation

According to Brand Finance’s City Index 2023, New York City ranks 2^nd globally with a score of 83/100. NYC also ranks 3^rd globally in familiarity and secured the 2^nd spot in three out of the seven key dimensions: invest, study, and visit. Moreover, NYC ranks 2^nd as the best city to invest in and 1^st for city of global significance, easy to do business in, and strong and stable economy attributes. It has also been recognised as the 2^nd best city in the world to study, behind London.

It holds the 2^nd position for great universities and leader in science and technology attributes and comes 4^th for great private schools, but falls short on great publicly funded schools, ranking 41^st overall.

NYC is perceived as the least affordable city in the world according to this ranking. Lastly, the city comes 1^st for great shopping, restaurants and nightlife and 2^nd for great theatres and music venues, home to Fifth Avenue shops and Broadway theatres. Consequently, NYC ranks as the 2^nd best city in the world to visit.

Resonance’s 2023 World’s Best Cities Report ranks New York City 3^rd, sitting between Paris (2^nd) and Tokyo (4^th). It scored the following in the Place Power Score subfactors: 12^th in Prosperity, 2^nd in Lovability, and 6^th in Livability. It also ranked in the following Place Power Highlights: 1^st for Google Trends and 2^nd for Culture.

Kearney’s 2023 Global Cities Report continues to rank New York City 1^st. Moreover, the city ranks 17^th in the Global Cities Outlook, a drop of 11 positions since the previous ranking.

The Global Power City Index ranks New York City 2^nd. In terms of function-specific rankings, the city ranks 1^st in Economy, 1^st in R&D, 2^nd in Cultural Interaction, 38^th in Livability, 28^th in Environment, and 3^rd in Accessibility. New York City ranks 2^nd in Variety of Workplace Options, 3^rd in Winners of Prizes in Science and Technology, 5^th for Nightlife Options, 11^th for Number of Retail Shops, 30^th for Urban Greenery, and 38^th for Average Driving Speed. Lastly, New York City is positioned 2^nd for Highly Skilled Workers, 2^nd for Corporate Executives, 31^st for Residents, and 6^th for Tourism.

How Appealing for Talent, Investors, Visitors?

The Mercer Quality of Living City Ranking places New York City 40^th, between Lisbon (39^th) and Boston (41^st). The Mercer Cost of Living Ranking ranks New York City 6^th, a jump of one position from the previous ranking. It now sits behind Basel (5^th) and above Bern (7^th). 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 54^th out of 56 global cities. It currently sits between Tokyo (53^rd) and Singapore (55^th).

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 17^th, Cornell University 20^th, and New York University 27^th. The QS World University ranking ranks Cornell 13^th, Columbia University 23^rd, and New York University 38^th.

Urban Sustainability

The Arcadis Sustainability City Index 2022 ranks New York City 15^th overall, between Los Angeles (14^th) and Frankfurt (16^th). Its pillar rankings are as follows: Planet 36^th, People 42^nd, and Profit 14^th.

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.