TOKYO--(BUSINESS WIRE)--New York City was again ranked the world’s second most attractive city in the 2017 Global Power City Index (GPCI) report published today by The Mori Memorial Foundation’s Institute for Urban Strategies, a research institute established by Mori Building, a leading urban developer in Tokyo. First published in 2008, the annual GPCI report evaluates and ranks 44 major cities according to their “magnetism”, or their overall power to attract creative individuals and enterprises from around the world. Cities are rated on the basis of 70 detailed indicators in six categories: “Economy”, “R&D”, “Cultural Interaction”, “Livability”, “Environment”, and “Accessibility”.
For the sixth year running, NYC achieved an overall No.2 ranking, behind London. Due to an improvement in its nominal GDP, the city reclaimed the top slot in the “Economy” category, and retained its lead in the “R&D” field, thanks to the number of the world’s top 200 universities based there and its level of R&D expenditure. Key challenges for the Big Apple lie in the cost of housing and the lack of greenery, which contributed to the city’s low ratings in the category of “Livability” (ranked #34) and “Environment” (#30).
Los Angeles jumped from No.13 to No.11 in the overall rankings this year, due partly to improvements in its “Livability” ratings, which were in turn driven by higher employment levels and an increasing variety of retail outlets and restaurants. Moving forward, the host city of the 2028 Olympic and Paralympic Games needs to address its relatively low “Accessibility” ranking, currently #22, by improving the punctuality and coverage of public transportation and the travel time between the city and its international airport.
Commented Allen J. Scott, Distinguished Research Professor at UCLA, “The 2028 Olympic and Paralympic Games will bring many benefits to Los Angeles, among them a much-needed large-scale upgrade of mass transit, a boost to the local tourist trade, and a significant stimulus to employment. The outcome of the 2028 Games will be positive not only in budgetary terms, but also and especially in terms of the consolidation of Los Angeles as one of the foremost global city-regions of the 21st century.”
Five major cities in the U.S. – New York, Los Angeles, San Francisco, Boston and Chicago – continued to dominate the top 10 rankings in the “R&D” field, owing to the presence of so many of the world’s top 200 universities and the large number of resident prizewinners in the fields of science, technology, engineering and mathematics. Other North American cities highlighted in this year’s report include Toronto (ranked #19 overall) , Vancouver (#28), and Washington D.C. (#29).
Commented Hiroo Ichikawa, Executive Director of The Mori Memorial Foundation, “In the last 10 years, the report has shown that the power of cities has been changing as a result of changes in the macro environment. Our report suggests that a city’s overall power cannot be determined by a single factor, such as its economy, but needs to take into account the many factors that define the city. We believe that our GPCI report can help policy makers and global companies achieve smarter planning and decision-making.”
Commented Shingo Tsuji, Director of The Mori Memorial Foundation and CEO of Mori Building, “Global players today are seeking cities not just with a strong business environment, but those additionally offering improved lifestyles: high quality residences, diverse cultural and retail facilities, a stress-free transportation network and a rich natural environment. For global cities to thrive, they need to bolster their overall magnetic power; this will help them to attract talent and investment from around the world.”
For more details of the GPCI 2017 report, see http://www.mori-m-foundation.or.jp/english/ius2/gpci2/index.shtml