Global city

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View of Empire State Building from Rockefeller Center New York City dllu (cropped).jpg
London Skyline (125508655).jpeg
New York City (top) and London (bottom) are the only two cities ranked in the Alpha ++ category by the Globalization and World Cities Research Network. Both cities are considered leading financial, commercial and cultural centers.

A global city [a] is a city that serves as a primary node in the global economic network. The concept originates from geography and urban studies, based on the thesis that globalization has created a hierarchy of strategic geographic locations with varying degrees of influence over finance, trade, and culture worldwide. [1] The global city represents the most complex and significant hub within the international system, characterized by links binding it to other cities that have direct, tangible effects on global socioeconomic affairs. [2]

Contents

The criteria of a global city vary depending on the source. [3] Common features include a high degree of urban development, a large population, the presence of major multinational companies, a significant and globalized financial sector, a well-developed and internationally linked transportation infrastructure, local or national economic dominance, high quality educational and research institutions, and a globally influential output of ideas, innovations, or cultural products. Quintessential examples, based on most indices and research, include New York City, London, Paris, and Tokyo.

Origin and terminology

The term 'global city' was popularized by sociologist Saskia Sassen in her 1991 book, The Global City: New York, London, Tokyo. [4] Before then, other terms were used for urban centers with roughly the same features. The term 'world city', meaning a city heavily involved in global trade, appeared in a May 1886 description of Liverpool, by The Illustrated London News ; [5] British sociologist and geographer Patrick Geddes used the term in 1915. [6] The term 'megacity' entered common use in the late 19th or early 20th century, the earliest known example being a publication by the University of Texas in 1904. [7] In the 21st century, the terms are usually focused on a city's financial power and high technology infrastructure. [8] [9]

Criteria

Manhattan, the core area of New York City, an Alpha++ global city, where there are several characteristic elements of global cities like worldwide influential economic (New York Stock Exchange) and cultural (Broadway) centers, headquarters of international political organizations (UN headquarters), world renowned museums (the Met Museum, MOMA, Guggenheim Museum), and worldwide-known landmarks (Times Square, Empire State Building, Central Park) Above Gotham.jpg
Manhattan, the core area of New York City, an Alpha++ global city, where there are several characteristic elements of global cities like worldwide influential economic (New York Stock Exchange) and cultural (Broadway) centers, headquarters of international political organizations (UN headquarters), world renowned museums (the Met Museum, MOMA, Guggenheim Museum), and worldwide-known landmarks (Times Square, Empire State Building, Central Park)

Competing groups have devised competing means to classify and rank world cities and to distinguish them from other cities. [6] Although there is a consensus on the leading world cities, [11] the chosen criteria affect which other cities are included. [6] Selection criteria may be based on a yardstick value (e.g., if the producer-service sector is the largest sector then city X is a world city) [6] or on an imminent determination (if the producer-service sector of city X is greater than the combined producer-service sectors of N other cities then city X is a world city.) [6] Although criteria are variable and fluid, typical characteristics of world cities include: [12]

General rankings

Global city rankings are numerous. [15] New York City, London, Tokyo, and Paris are the most commonly mentioned. [16] [17]

GaWC World Cities

The Globalization and World Cities Research Network (GaWC) is a think tank that studies the relationships between world cities in the context of globalization . It is based in the geography department of Loughborough University in Leicestershire , United Kingdom . GaWC was founded by Peter J. Taylor in 1998. [18] Together with Jon Beaverstock and Richard G. Smith , they create the GaWC's biennial categorization of world cities into "Alpha", "Beta" and "Gamma" tiers, based upon their international connectedness. [19] The cities in the top two classifications in the 2024 edition are: [20]

Alpha ++

Alpha +

Global Cities Index (Kearney)

In 2008, the American journal Foreign Policy , working with the consulting firm A.T. Kearney and the Chicago Council on Global Affairs, published a ranking of global cities based on consultation with Saskia Sassen, Witold Rybczynski, and others. [21] [22] The ranking is based on 27 metrics across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement. [23] The top ranked cities in 2024 are: [24]

  1. Flag of the United States.svg New York City
  2. Flag of the United Kingdom.svg London
  3. Flag of France.svg Paris
  4. Flag of Japan.svg Tokyo
  5. Flag of Singapore.svg Singapore
  6. Flag of the People's Republic of China.svg Beijing
  7. Flag of the United States.svg Los Angeles
  8. Flag of the People's Republic of China.svg Shanghai
  9. Flag of Hong Kong.svg Hong Kong
  10. Flag of the United States.svg Chicago

Global Cities Index (Oxford Economics)

Advisory firm Oxford Economics released its Global Cities Index in 2024, ranking the world's largest 1,000 cities based on 27 indicators across five categories (economics, human capital, quality of life, environment, and governance) with more weight on economic factors. The top ranked cities in 2024 are: [25]

  1. Flag of the United States.svg New York City
  2. Flag of the United Kingdom.svg London
  3. Flag of the United States.svg San Jose
  4. Flag of Japan.svg Tokyo
  5. Flag of France.svg Paris
  6. Flag of the United States.svg Seattle
  7. Flag of the United States.svg Los Angeles
  8. Flag of the United States.svg San Francisco
  9. Flag of Australia (converted).svg Melbourne
  10. Flag of Switzerland (Pantone).svg Zurich

Global Power City Index

The Tokyo-based Institute for Urban Strategies at The Mori Memorial Foundation, issued a study of global cities in 2008. They are ranked in six categories: economy, research and development, cultural interaction, livability, environment, and accessibility, with 70 individual indicators among them. The top ten world cities are also ranked by subjective categories, including manager, researcher, artist, visitor and resident. [26] [27] The top 10 cities in 2023 are: [26]

  1. Flag of the United Kingdom.svg London
  2. Flag of the United States.svg New York City
  3. Flag of Japan.svg Tokyo
  4. Flag of France.svg Paris
  5. Flag of Singapore.svg Singapore
  6. Flag of the Netherlands.svg Amsterdam
  7. Flag of South Korea.svg Seoul
  8. Flag of the United Arab Emirates.svg Dubai
  9. Flag of Australia (converted).svg Melbourne
  10. Flag of Germany.svg Berlin

World's Best Cities ranking

Consultancy firm Resonance publishes the World’s Best Cities ranking. They are ranked in three categories: livability, lovability and prosperity, each of them using different factors. The top 10 cities in 2024 are: [28]

  1. Flag of the United Kingdom.svg London
  2. Flag of the United States.svg New York City
  3. Flag of France.svg Paris
  4. Flag of Japan.svg Tokyo
  5. Flag of Singapore.svg Singapore
  6. Flag of Italy.svg Rome
  7. Flag of Spain.svg Madrid
  8. Flag of Spain.svg Barcelona
  9. Flag of Germany.svg Berlin
  10. Flag of Australia (converted).svg Sydney

Financial rankings

Global Financial Centres Index

Strength as a financial center has become one of the pre-eminent indicators of a global city's ranking. As of 2024, [29] the cities representing the top ten financial centers according to the Global Financial Centres Index by the think tank China Development Institute and analytics firm Z/Yen are: [30]

  1. Flag of the United States.svg New York City
  2. Flag of the United Kingdom.svg London
  3. Flag of Singapore.svg Singapore
  4. Flag of Hong Kong.svg Hong Kong
  5. Flag of the United States.svg San Francisco
  6. Flag of the People's Republic of China.svg Shanghai
  7. Flag of Switzerland (Pantone).svg Geneva
  8. Flag of the United States.svg Los Angeles
  9. Flag of the United States.svg Chicago
  10. Flag of South Korea.svg Seoul

The Wealth Report

Estate agent Knight Frank LLP and the Citi Private Bank publish The Wealth Report, which includes a "Global Cities Survey", evaluating the most important cities to high-net-worth individuals (HNWIs, having over $25 million of investable assets each). Criteria are economic activity, political power, knowledge and influence, and quality of life. [31] [32] The most important cities to UHNWIs in 2022 are: [33]

  1. Flag of the United Kingdom.svg London
  1. Flag of France.svg Paris & Flag of the United States.svg New York City
  1. Flag of the United States.svg Los Angeles
  1. Flag of Japan.svg Tokyo
  1. Flag of the United States.svg Chicago
  1. Flag of Singapore.svg Singapore
  1. Flag of Hong Kong.svg Hong Kong
  1. Flag of Canada (Pantone).svg Toronto
  1. Flag of the People's Republic of China.svg Beijing

See also

Notes

  1. Also known as a power city, world city, alpha city, or world center

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