Top 10 Influential Cities Across The Globe,2020

New York: London is the most economically influential city in the world for 2020, with an overall score of 85.49. New York is reasonably close, with 83.49 points, Tokyo, which has the largest metro economy in the world, is third with 82.59 points.

Paris is fourth with 81.65 points, narrowly ahead of Singapore with 80.66. Berlin, Shanghai, Brussels, New Delhi, and Toronto complete the top ten. The rest of the top 20 includes Washington DC (11th); Sydney (12th); Sao Paulo (18th); four European cities, Moscow (13th), Zurich (17th), Amsterdam (19th) and Istanbul (20th); and three Asian cities, Dubai (14th), Riyadh (15th) and Tel Aviv (16th).

In order to provide an objective analysis of the competitiveness of large urban centers, CEOWORLD magazine produced its “Cities Of Economic Influence Index”, competitive in all fields, from finance, fashion, music, and cinema, to now even start-ups and high tech. The most recent ranking of the most economically powerful cities in the world, established by the experts of CEOWORLD magazine, reveals that London is clearly the winner. The Cities Of Economic Influence Index is based on five main indices:
1. Economic power (overall economic activity)
2. Financial weight (strength of a city’s financial and banking sectors)
3. People and politics (political and demographic influence)
4. Quality of life (productivity, infrastructure, quality of life, equity and social inclusion and environmental sustainability)
5. Competitiveness (commercial activity, human capital, cultural experience, and political commitment)

We calculate the total score of a city through these five indices, the table below shows the 10 most economically influential cities in the world on our combined index of cities of economic influence. It is interesting to note that the top 10 cities generate around half of the world’s total economic output and the top 25 represent more than 30% of the world’s economic output. So which city came out on top?

Top [10] The Most economically influential cities in the world, 2020

The Rise of Global Cities
Urbanization has exploded over the past 120 years.

In 1900, there were only 16 cities around the world with a population of more than 1 million.

Today, there are more than 512. And they account for 23% of the world’s population.

Cities are now an essential part of modern life. More than half of the world’s population currently lives in urban areas.

And in terms of raw economic output, cities are critically important.

When ranking economies, we tend to focus on economic output (GDP). I did that when I compared U.S. states to countries.

We can do the same for cities.

In 2018, the 300 largest metropolitan economies in the world accounted for nearly half of global GDP.

The leading global cities rival countries in terms of GDP.

New York and Tokyo have economies about as large as Russia’s. London’s economy is the size of Switzerland’s.

A Better Measure
The populations of the world’s largest cities are in constant flux.

London became the world’s largest city in terms of population in 1825. New York overtook it precisely a century later.

Tokyo overtook New York in 1965.

And by 2019, London had dropped to No. 37 on that list.

And yet London remains an influential global city.

That’s because cities are about more than sheer population or economic output. They are also centers of innovation, creativity and culture.

Small but well-run cities can easily dominate larger cities in terms of influence on global business, culture and politics.

Singapore and Dubai established themselves as regional financial centers without becoming megacities.

In contrast, Mexico City – one of the largest emerging-economy cities in the world – is burdened by crime, congestion and pollution. All these have kept it from the ranks of influential global capitals.

Ranking Cities by Influence
So once you get beyond economic output and population… what are the world’s most influential cities?

Management consultancy firm A.T. Kearney answers that question every year with its annual Global Cities Report.

The report examines dozens of variables, including business activity, culture, human capital, political engagement and information exchange. It then adds these scores together to rank the cities.

Leave a Reply

Your email address will not be published. Required fields are marked *