Shanghai City Performance, Brand Strength and Reputation

Shanghai, characterized by its iconic and modern Lujiazui skyline, is one of the biggest cities in the world. It is a major transport hub, as well as an increasingly important global financial center. Home to the largest free-trade zone of mainland China, how does this huge metropolis do in terms of city performance, brand strength and reputation?

Let’s explore deeper how Shanghai positions itself on the world stage, drawing insights from data provided by TPBO partners and other reputable institutions.

Let’s take a closer look at:

• Shanghai’s competitiveness and financial performance
• Shanghai’s brand strength and global attractiveness
• Liveability: Shanghai’s appeal for digital nomads and locals

Shanghai’s competitiveness and financial performance

How attractive is Shanghai as a place to work and do business?

The Global Financial Centres Index 34 continues to rank Shanghai 7^th. It is currently sitting between Los Angeles (6^th) and Washington DC (8^th). Shanghai also ranked as the 6^th center most likely to become more significant. Moreover, the city holds a strong standing in the following areas of competitiveness: Business Environment (6^th), Financial Sector Development (6^th), Human Capital (7^th), Infrastructure (10^th), and Reputational & General (7^th). It also performs very well in the following industry sectors: Banking (3^rd), Investment Management (4^th), Finance (3^rd), Trading (9^th), Insurance (5^th), Government & Regulatory (8^th), Professional Services (10^th), and Fintech (15^th). Beijing holds the sixth place in the Asia-Pacific region.

According to 2thinknow’s Innovation Cities Index 2022-2023 Shanghai dropped 31 positions from the previous ranking and now holds the 46^th position. It sits in between Las Vegas (45^th) and Detroit (48^th).

Shanghai’s brand strength and global attractiveness

Which subfactors hurt and help the brand of Shanghai? 

Resonance’s 2023 World’s Best Cities Report ranks Shanghai 62^nd, scoring the following in the Place Power Highlights: 7^th for Global 500 Companies and 7^th for Restaurants. It currently sits in between Glasgow (61^st) and Rio de Janeiro (63^rd).

Kearney’s 2023 Global Cities Report ranks Shanghai in 13^th, a jump in three positions from the previous ranking. Shanghai ranks 51^st for the Global Cities Outlook, a drop of 21 positions from the previous ranking.

The comprehensive ranking of the Global Power City Index ranks Shanghai 15^th. In terms of function-specific rankings, the city ranks 11^th in terms of Economy, 13^th in R&D, 23^rd in Cultural Interaction, 30^th in Liveability, 33^rd in Environment, and 9^th in Accessibility. Moreover, Shanghai ranks 6^th in the Variety of Workplace Positions. Lastly, Shanghai positioned 33^rd in the Highly-skilled Workers, 25^th in the Corporate Executive, 23^rd in the Resident, and 17^th in the Tourism categories.

According to Brand Finance’s City Index 2023, Shanghai ranks 54^th in the global ranking with a score of 64.3/100, sitting in between Kuala Lumpur (53^rd) and Athens (55^th).

Liveability: Shanghai’s appeal for digital nomads and locals

Which aspects of Shanghai’s urban living make it an attractive place to live, work and study?

The Mercer Quality of Living City Ranking places Shanghai 109^th, sitting between São Paulo (108^th) and Durban (110^th). The Mercer Cost of Living Ranking ranks Shanghai 12^th, it sits between Los Angeles (11^th) and Beijing (13^th). The cost living survey reports that factors such as currency fluctuations, cost inflation for goods and services, and instability of accommodation prices are key to determine the cost of expat packages for employees on international assignment.

The Arcadis Sustainability City Index 2022 ranks Shanghai 66^th overall, sitting in between New Orleans (65^th) and Shenzhen (67^th). Shanghai’s pillar rankings are the following: Planet 75^th, People 49^th, Profit 63^rd.

Lastly, Shanghai is home to a couple of the best universities in the world. According to The Times Higher Education ranking, Shanghai Jiao Tong University ranks 43^rd and Fudan University 44^th. The QS World University ranking positions Shanghai Jiao Tong University 51^st and Fudan University 50^th.

Last updated in January 2024. More city benchmarking insights, profiles and reports in our City Observatory.

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