None of the Indian or Chinese cities features in the top 15 global cities of future list prepared by AT Kearney, an international business-consulting firm. In its new Global Cities 2017 report, the firm has ranked 128 cities according to their projected levels of potential to “attract and retain global capital, people and ideas in the coming years.” The report consists of two parts: a) Global Cities Index which ranks cities on the basis of their performance and the Global Cities Outlook which evaluates their potential for future. “Together, the Index and Outlook present a unique lens on the world’s largest and most influential cities and those primed to make a strong impact,” says AT Kearney. It adds that top cities identified are “positioned for continued growth and global influence in the future.”
For the Global Cities Outlook, the top urban centres of the world have been identified on the basis of four indicators. There are: a) Personal well-being which accounts for stability and security, health care, Gini coefficient index and environmental performance; b) Economics including Infrastructure, GDP per capita and FDI inflow; c) Innovation accounting for patents per capita, private investment and university-sponsored incubators; and d) Governance examining quality of bureaucracy, ease of doing business and transparency.
Here are the top 15 cities of future:
1. San Francisco, United States: It is located in the north of Silicon Valley and now the technology capital of the world. The city is also considered to be very expensive real estate market in America.
2. New York City, United States: This city is considered to be the world’s top centre of finance, fashion, media and technology, according to the World Economic Forum. It is also the leading capital markets centre and has many institutions with international reach.
3. Paris, France: The fashion capital of the world has recently emerged as a destination of business incubators.
4. London, England: The historic British capital continues to be one of the leading centres of top top global services firms and also attracts best talents from across the world.
5. Boston, US: The city is home to some of the top universities of the world like the Harvard and MIT.
6. Melbourne, Australia: The second largest city of Australia is world’s top city in personal well-being, as per AT Kearney. It has also been receiving massive FDI in the recent years.
7. Munich, Germany: The German city is one of the major European innovation hub. It was home to around 1,00,000 startups in 2015.
8. Houston, US: The city boasts of top GDP per capita and it has also witnessed a growth in entrepreneurship because of a rising number of patents filed per capita.
9. Stockholm, Sweden: The Swedish capital is a leader in freedom of expression.
10. Moscow, Russia: The Russian city has seen improvements in FDI inflows and the quality of bureaucracy has increased.
11. Singapore: The city boasts of a high quality of its bureaucracy, apart from other credentials.
12. Zurich, Switzerland: According to World Economic Forum, Zurich is all set to become a leader in governance category.
13. Sydney, Australia: The city has emerged as a global leader in environmental performance. It has also improved in the quality of bureaucracy.
14. Geneva, Switzerland: The city is home of United Nations in Europe including the WTO and Red Cross.
15. Chicago, United States: Chicago is being seen as a future tech hub. This is also the third most populous city of the US.