It's that time of year again.
Monocle has just released their annual Quality of Life Survey. This is their 18th annual ranking of the world's top cities according to what they do best: whether it be housing or nightlife. What I like about this survey is that it does things a little differently. Most liveability surveys tend to be a list of the world's most boring cities. It's as if uneventfulness is the measure of quality of life.
This is not that.
For example, number 3 on the list is Athens. And it's there specifically because of its nightlife. Monocle refers to it as "one of Europe's few truly 24-hour cities." Also on the list, at number 7, is Mexico City. This is a city that is required to have women-only subway cars because the men apparently can't behave in public.
Of course, it's an incredible city in so many other ways. It has leafy neighborhoods filled with the kind of mid-rise buildings that Toronto is now desperately trying to add to its major streets. And according to the survey, the city's population grew by about 600,000 people between 2019 and 2023 — many of whom came from the US and Canada.
Jumping to the top of the list, Monocle's city of the year and best all-rounder is a city that we talk a lot about on this blog: Paris. This is perhaps not surprising given the city's bold moves to pedestrianize streets, plant trees everywhere, build more than 1,000 km of bike lanes, and generally enhance the overall urban experience.
But it's not just that:
All of this, combined with the policies of the country’s most pro-business president in a long time, has helped Paris to draw and foster enough talent to snatch London’s double crown as Europe’s top venture-capital city and its leading technology hub. “Paris lends itself far more to an office-based culture than cities such as San Francisco or London,” says Jordane Giuly, the founder of fintech company Defacto. He points out that the French capital’s gentle density is conducive to cross-pollination between start-ups and preferable to the vast distances that one needs to traverse in its rivals.
For their full list of the 10 most livable cities in the world, click here.
There are countless rankings of cities out there. And most of them probably don't mean very much. But the concept of a "global city", as coined by Saskia Sassen in the early 90s, is still immensely fascinating to me. And that's because there is, in fact, an order. There are cities that are less and more important to the global economy.
To this end, Resonance Consulting has just released their annual ranking of the world's best cities. And this year, they've introduced something new to their methodology: perception data. For this, they partnered with Ipsos and asked more than 22,000 respondents across 30 countries the following three broad and open-ended questions:
What are the top 3 towns or cities you would most like to live in someday?
What are the top 3 towns or cities you would most like to visit in the next 12 to 24 months?
What 3 towns or cities do you believe currently offer the best job opportunities?
The intent with these questions was to not anchor people to a specific list of places, and to not necessarily anchor people to big global cities. Maybe the best job opportunities are believed to be in small towns that most people aren't thinking about. The result is that thousands of different towns and cities were mentioned during the survey period.
While this didn't necessarily impact the cities and usual suspects that you would expect to see in a ranking like this -- cities like London, New York, and Paris -- it did change certain things and offer some interesting insights. For example, the strong global perception of Sydney helped to move it into the top 10 for the first in the ten-year history of this report.
On the other end of the spectrum, negative sentiment (outside of China) toward Hong Kong caused the city's ranking to drop precipitously. It is now ranked 97th, behind cities like Naples (Italy), Birmingham (UK), and Rochester (US). Singapore, in case you're wondering, is ranked 5th:
Broadly speaking, the perception data also served to remind us that we continue to have a bias toward cities. When people are asked where they want to live, visit, and work, they still think of the world's biggest and most important places. So despite the rise of decentralizing technologies (i.e. Zoom) and the bad things that happened to cities as a result of the pandemic, big cities remain at the center of the global economy.
This is not at all surprising.
Cover photo by Aaron Gilmore on Unsplash
McKinsey recently published a report called Digital globalization: The new era of global flows.
The overarching thesis is that we are transitioning to a data-driven global economy:
“Flows of physical goods and finance were the hallmarks of the 20th-century global economy, but today those flows have flattened or declined. Twenty-first-century globalization is increasingly defined by flows of data and information. This phenomenon now underpins virtually all cross-border transactions within traditional flows while simultaneously transmitting a valuable stream of ideas and innovation around the world.”
One of the benefits of this shift is that it has become easier for emerging economies and individuals from all around the world to participate.
Of course, not all countries and cities are participating equally. In their report, McKinsey ranks the top cities according to five global flows. In each case a proxy was used:
“Unfortunately, data on global flows are not available at the city level. However, we have obtained data that serve as proxies for each of our five global flows. Container port volumes approximate goods flows; airport passenger volumes serve as a proxy for goods, service, and people flows; the ranking of cities in the Global Financial Centers Index by the Z/Yen Group provides an indication of financial flows; the number of foreign-born residents in a city measures people flows; and Internet bandwidth approximates data flows.”
Using this methodology, they believe that the world only has 8 truly global cities right now: New York, Los Angeles, San Francisco, London, Singapore, Shanghai, Hong Kong, and Dubai. They are the colored cities listed below:
I always take these city rankings with a grain of salt. This stuff is not easy to quantify and a lot depends on the methodology that you use.
For instance, Atlanta sits on the top of “goods, services, and people” because it has the busiest airport in the world according to passenger volume. (It’s the primary hub of Delta Air Lines.) But is that enough to assert that Atlanta is #1? Maybe. Maybe not.
In any case, the report is packed full of information. If you’d like to take a look, click here.