What makes a city successful in today’s world? The Oxford Economics Global Cities Index 2024 looks at this question by ranking 1,000 cities based on their economy, talent, quality of life, environment, and governance.
This new report shows where cities are thriving, what challenges they face, and how they are adapting to a changing world. It focuses on the top 50 cities, highlighting those that set the standard for success and innovation.
Key Findings: Oxford Economics Global Cities Index 2024
North American, Western European, and cities “Down Under” take the lead in this inaugural ranking by Oxford Economics, while cities in Asia and South America are generally less prominent in the top 100. Here are some key findings:
- North American cities dominate the top ranks, with New York securing 1st place and San José taking 3rd.
- In Western Europe, London ranks 2nd, followed by Paris in 5th and Zurich in 10th.
- Only a few Asian cities appear in the top 50, led by Tokyo (4th) and Singapore (42nd).
- Tel Aviv (30th), Abu Dhabi (54th), and Dubai (92nd) rank highest in the Middle East.
- In South America, Santiago de Chile stands out at 119th, far ahead of its regional peers.
The Top Global Cities of 2024
| Rank | City |
|---|---|
| 1 | New York |
| 2 | London |
| 3 | San José |
| 4 | Tokyo |
| 5 | Paris |
| 6 | Seattle |
| 7 | Los Angeles |
| 8 | San Francisco |
| 9 | Melbourne |
| 10 | Zurich |
Behind the Ranks
The top-ranking cities demonstrate regional trends and strengths across various indicators:
- Economic Strength: Cities like New York (1st), San José (3rd), and London (2nd) excel in economic metrics.
- Human Capital: Cities with top education and skilled labour pools, including London and Tokyo, rank highly for attracting and retaining talent.
- Quality of Life: European cities such as Zurich (10th) are renowned for high living standards, making them attractive to global talent and investors.
- Environmental Leadership: Although environment scores are not as heavily weighted, cities like Melbourne (9th) are recognised for sustainability efforts and green infrastructure.
- Governance: Cities like Zurich and Melbourne benefit from political stability, which attracts business and investment crucial for long-term growth.
Methodology
The Oxford Economics Global Cities Index 2024 ranks the world’s 1,000 largest cities based on five key categories, using 27 indicators. Each category is weighted to reflect its importance in shaping city performance:
- Economics (30%): Assesses economic performance and growth potential, including GDP, employment, and economic diversity.
- Human Capital (25%): Evaluates education, labor quality, and demographics to measure a city’s ability to attract and retain talent.
- Quality of Life (25%): Looks at living standards, income equality, life expectancy, and access to amenities.
- Environment (10%): Considers environmental resilience, air quality, green spaces, and sustainability efforts.
- Governance (10%): Examines political stability, institutional quality, and regulatory frameworks.
The index is developed by Oxford Economics, a leading global advisory firm based in Oxford, United Kingdom. Their team of over 400 economists and analysts combines proprietary economic forecasts with publicly available datasets.
Key Takeaway
The Oxford Economics Global Cities Index 2024 provides a detailed look at the leading global urban centres, with North American and Western European cities dominating. Economic giants like New York and San José thrive alongside cities such as Zurich and Melbourne, known for high quality of life and environmental standards. The findings highlight the importance of balanced growth, suggesting that cities must invest in sustainable infrastructure, strong governance, and talent development to maintain competitive.
Visit Oxford Economics Global City Index for full rankings and methodology details.
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