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Global city

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A global city, also called a power city, world city, alpha city or world center, is a city which is a primary node in the global economic network. The concept comes from geography and urban studies, and the idea that globalization is created and furthered in strategic geographic locales according to a hierarchy of importance to the operation of the global system of finance and trade.

The most complex node is the "global city", with links binding it to other cities having a direct and tangible effect on global socio-economic affairs.[1] The term "megacity" entered common use in the late 19th or early 20th centuries; one of the earliest documented uses of the term was by the University of Texas in 1904.[2] The term "global city", rather than "megacity", was popularized by sociologist Saskia Sassen in her 1991 work, The Global City: New York, London, Tokyo.[3] "World city", meaning a city heavily involved in global trade, appeared in the May 1886 description of Liverpool, by The Illustrated London News.[4] Patrick Geddes later used the term "world city" in 1915.[5] More recently, the term has focused on a city's financial power and high technology infrastructure, with other factors becoming less relevant.[6][7]

Criteria

Competing groups have developed multiple alternative methods to classify and rank world cities and to distinguish them from non-world cities.[5] Although there is a consensus upon leading world cities,[8] the chosen criteria affect which other cities are included.[5] 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)[5] 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.)[5]

Cities can fall from ranking, as in the case of cities that have become less cosmopolitan and less internationally renowned in the current era.

Characteristics

Although criteria are variable and fluid, typical characteristics of world cities are:[9]

  • A variety of international financial services,[10] notably in finance, insurance, real estate, banking, accountancy, and marketing
  • Headquarters of several multinational corporations
  • The existence of financial headquarters, a stock exchange, and major financial institutions
  • Domination of the trade and economy of a large surrounding area
  • Major manufacturing centres with port and container facilities
  • Considerable decision-making power on a daily basis and at a global level
  • Centres of new ideas and innovation in business, economics, culture, and politics
  • Centres of media and communications for global networks
  • Dominance of the national region with great international significance
  • High percentage of residents employed in the services sector and information sector
  • High-quality educational institutions, including renowned universities, international student attendance,[11] and research facilities
  • Multi-functional infrastructure offering some of the best legal, medical, and entertainment facilities in the country
  • High diversity in language, culture, religion, and ideologies

Rankings

Global city rankings are numerous, with one study suggesting as many as 300.[12] Most ranked cities are in North America and Europe. New York, London, Tokyo, and Paris, notably four of the most significant metropolises,[13][14] have been ranked in top four positions in Global Cities Index and Global Power City Index since both indices' inception in 2008, with New York and London exclusively in top two positions.

GaWC study

A map showing the distribution of GaWC-ranked world cities (2010 data)

Jon Beaverstock, Richard G. Smith, and Peter J. Taylor established the Globalization and World Cities Research Network (GaWC). A roster of world cities in the GaWC Research Bulletin 5 is ranked by their connectivity through four "advanced producer services": accountancy, advertising, banking/finance, and law.[8] The GaWC inventory identifies three levels of global cities and several sub-ranks,[15] although the authors caution that "concern for city rankings operates against the spirit of the GaWC project"[16] (emphasis in original).

The 2004 rankings added several new indicators while continuing to rank city economics more heavily than political and cultural factors. The 2008 roster, similar to the 1998 version, is sorted into categories of Alpha world cities (with four sub-categories), Beta world cities (three sub-categories), Gamma world cities (three sub-categories), and cities with High sufficiency and Sufficiency presence. The cities in the top two classifications in the 2020 edition are as follows:[17]

Alpha ++

Alpha +

Global City Competitiveness Index

In 2012, the Economist Intelligence Unit (The Economist Group) ranked the competitiveness of global cities according to their demonstrated ability to attract capital, businesses, talent, and visitors.[18]

Global Cities Index

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.[19] Foreign Policy noted that "the world's biggest, most interconnected cities help set global agendas, weather transnational dangers, and serve as the hubs of global integration. They are the engines of growth for their countries and the gateways to the resources of their regions."[20] The ranking is based on 27 metrics across five dimensions—business activity, human capital, information exchange, cultural experience, and political engagement—and was updated in 2010, 2012, 2014, 2015, 2016, 2017, 2018, and 2019.[21] Since 2015, it has been published with a separate index, the Global Cities Outlook, which is a projection of a city's potential based on rate of change in 13 indicators across four dimensions: personal well-being, economics, innovation, and governance. The top ranked cities in 2020 are: as follows:[22]

  • 2020 Global Cities Index:

Global Cities Initiative

A study by Brookings Institution conducted in 2016 introduced its own typology, sorting global cities into seven categories: Global Giants, Asian Anchors, Emerging Gateways, Factory China, Knowledge Capitals, American Middleweights, and International Middleweights [23]

The Global Giants classification includes wealthy, extremely large metropolitan areas that are the largest cities in developed nations. They are hubs for financial markets and major corporations, and serve as key nodes in global flows of capital and of talent.

Global City Lab

An analysis report compiled by the Global City Lab of the Global Top 500 Cities was released in New York 27 December 2019.[24] The top 10 cities by brand value were as follows:

Global Economic Power Index

In 2015, the second Global Economic Power Index, a meta list compiled by Richard Florida, was published by The Atlantic (distinct from a namesake list[25] published by the Martin Prosperity Institute), with city composite rank based on five other lists.[25][26]

Global Power City Index

The Institute for Urban Strategies at The Mori Memorial Foundation, in Tokyo, issued a comprehensive study of global cities in 2019. 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.[27]

  • Global Power City top 10:

Schroders Global Cities Index

The British asset management company Schroders ranked the competitiveness of global cities. The top 10 cities in the classifications in their "Top30" for the 2020 edition are as follows:[28]

The Wealth Report

"The Wealth Report" (a global perspective on prime property and wealth) is made by the London-based estate agent Knight Frank LLP and the Citi Private Bank. The report includes a "Global Cities Survey", evaluating which cities are considered the most important to the world's HNWIs (high-net-worth individuals, having over $25 million of investable assets each). For the Global Cities Survey, Citi Private Bank's wealth advisors, and Knight Frank's luxury property specialists were asked to name the cities that they considered the most important to HNWIs, in regard to "economic activity", "political power", "knowledge and influence", and "quality of life".[29][30]

  • Most important cities to UHNWIs in 2015:
  • Most important cities to UHNWIs in 2025:

The World's Most Talked About Cities

A study by ING Media, a London-based Built environment communications firm, has ranked 250 global cities by total online mentions across social media and online news for 2019. It found that a fifth of digital mentions were for Tokyo, New York City, London, and Paris, identifying these as the world's super brands.[31][32] The "Top 10 in the 2019 edition are as follows:[33]

The World's Best Cities

Real estate advisor Resonance Consultancy evaluates each city across the six dimensions: place ("perceived quality of a city’s natural and built environment"), product ("key institutions, attractions and infrastructure"), programming ("arts, culture, entertainment and culinary scene"), people ("immigration rate and diversity"), prosperity ("employment and corporate head offices"), and promotion ("stories, references and recommendations shared online").[34][35][36][37]

Summary

Summary of indexes

Overall ranking City GaWC

2020[38]

Mori

2020[39]

A.T. Kearney

2020[40]

Global City Lab

2020[41]

ING Global

2019[42]

ING Most Talked

2019[42]

CASS&UNHSP

2019[43]

Knight Frank

2019[44]

Schroder

2020[45]

1 United States New York 2 2 1 1 3 2 1 1 4
2 United Kingdom London 1 1 2 3 1 3 2 2 3
3 Japan Tokyo 9 3 4 2 2 1 6 13 27
4 Hong Kong Hong Kong 3 9 6 10 7 13 13 4 2
5 France Paris 8 4 3 4 6 4 21 3 15
6 Singapore Singapore 4 5 9 6 4 18 3 7 12
7 United States Los Angeles 11 12 7 7 17 15 9 5 1
8 China Shanghai 5 10 12 11 14 23 10 12 5
9 China Beijing 6 15 5 13 13 19 17 8 8
10 South Korea Seoul 26 8 17 17 9 9 15
11 United States Chicago 19 25 8 19 29 14 20 6 7
12 United States San Francisco 38 24 13 12 8 28 7 11 11
13 Canada Toronto 12 18 19 8 16 22 30 18 17
14 Australia Sydney 10 11 11 5 15 36 63 15 10
15 Germany Berlin 58 7 15 9 5 17 48
16 United States Boston 44 27 21 29 35 26 16 16 6
17 Russia Moscow 22 30 20 21 24 11 62 19
18 Netherlands Amsterdam 14 6 23 18 12 30 93 14
19 United Arab Emirates Dubai 7 17 27 49 18 6 72
20 Turkey Istanbul 30 34 34 23 23 12 41

Global major cities with data

List of top ten cities in the world
# City Urban popu­lation 2020[46] GDP billion US$[47] House price £/sqm[48] Number of Fortune 500 head­quarters[49] Inter­national
visitors 2018 (thousands)[50]
Airport system passenger million 2019 Number of buildings over 150 meter Number of millio­naires[51] Number of world top universities Average monthly net

salary £[48]

1 United States New York 22.1 1,570 6,102 17 13,600 142 287 3,028 4 4,459
2 Japan Tokyo 40.4 1,800 5,471 39 9,985 131 157 3,532 1 2,277
3 United Kingdom London 14.8 850 6,042 13 19,233 177 30 4,400 7 2,816
4 Hong Kong Hong Kong 7.5 341 15,431 7 29,263 75 480 2,789 5 2,170
5 South Korea Seoul 24.8 895 7,289 14 8,431 93 78 1,365 1 1,957
6 France Paris 11.4 650 8,045 22 17,560 109 19 1,516 1 2,281
7 Singapore Singapore 7.9 337 7,416 2 18,551 66 90 3,117 2 2,842
8 China Shanghai 33.6 599 5,395 9 7,484 118 163 1,104 2 1,138
9 China Beijing 19.8 550 5,752 55 4,002 107 43 1,449 2 1,064
10 United States Los Angeles 17.7 960 4,161 6 6,591 110 32 969 4 3,941

Ranks of major cities in the world

List of top ten cities in the world
City Over all ranking Ranking of Urban population (2020) Ranking of GDP Ranking of House price Ranking of Price index (Including rent) Ranking of Headquarter Numbers
2020
Ranking of International Tourists 2018 Ranking of Airport Traffic 2019 Ranking of Metro rail Index Ranking of Buildings over 150m Ranking of Number of millionaires Ranking of Global Finance Central Index (2020)
United States New York 1 11 2 10 2 4 7 2 5 3 4 1
Japan Tokyo 2 2 1 14 22 2 15 3 12 6 2 4
United Kingdom London 3 25 5 11 10 6 3 1 9 42 1 2
Hong Kong Hong Kong 4 56 23 1 6 11 1 18 21 1 5 5
South Korea Seoul 5 8 4 5 48 5 21 14 4 18 10 22
France Paris 6 32 7 2 21 3 5 6 10 58 7 15
Singapore Singapore 7 52 13 4 12 32 4 25 20 15 3 6
China Shanghai 8 3 9 15 112 8 27 4 1 5 18 3
China Beijing 9 14 11 12 118 1 50 7 2 30 9 7
United States Los Angeles 10 18 3 25 8 14 31 5 118 40 19 11

Map

Global city is located in Earth
New York
New York
Tokyo
Tokyo
London
London
Hong Kong
Hong Kong
Seoul
Seoul
Paris

Paris
Singapore
Singapore
Shanghai
Shanghai
Beijing
Beijing
Los Angeles
Los Angeles
San Francisco
San Francisco
Toronto
Toronto
Sydney
Sydney
Chicago
Chicago
Berlin
Berlin
Stockholm
Stockholm
Frankfurt
Frankfurt
Amsterdam
Amsterdam
Vienna
Vienna
Boston
Boston
Top ten cities in global ranking

See also

References

  1. ^ Sassen, Saskia - The global city: strategic site/new frontier Archived 18 October 2006 at the Wayback Machine
  2. ^ "Hemisfile: perspectives on political and economic trends in the Americas". 5–8. Institute of the Americas. 1904: 12. Retrieved 16 July 2015. Cite journal requires |journal= (help)
  3. ^ Sassen, Saskia - The Global City: New York, London, Tokyo. Archived 16 March 2015 at the Wayback Machine (1991) - Princeton University Press. ISBN 0-691-07063-6
  4. ^ "UK History". History.ac.uk. 18 December 2009. Archived from the original on 23 June 2012. Retrieved 9 May 2012.
  5. ^ a b c d e Doel, M. & Hubbard, P., (2002), "Taking World Cities Literally: Marketing the City in a Global Space of flows", City, vol. 6, no. 3, pp. 351–68. Subscription required
  6. ^ "Asian Cities Pay Hidden Price for Global Status". The Diplomat. 15 February 2015. Archived from the original on 1 February 2016. Retrieved 25 January 2016.
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  8. ^ a b GaWC Research Bulletin 5 Archived 8 August 2011 at the Wayback Machine, GaWC, Loughborough University, 28 July 1999
  9. ^ Pashley, Rosemary. "HSC Geography". Pascal Press, 2000, p.164
  10. ^ J.V. Beaverstock, World City Networks 'From Below' Archived 8 March 2006 at the Wayback Machine, GaWC, Loughborough University, 29 September 2010
  11. ^ K. O'Connor, International Students and Global Cities Archived 5 February 2006 at the Wayback Machine, GaWC, Loughborough University, 17 February 2005
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  13. ^ "Struggling Giants". University of Minnesota Press. Retrieved 31 December 2020.
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  27. ^ "Global Power City Index 2018". Tokyo, Japan: Institute for Urban Strategies at The Mori Memorial Foundation. 18 October 2018. Archived from the original on 3 March 2019. Retrieved 16 March 2019. Cite journal requires |journal= (help)
  28. ^ Schroders Global Cities Index - Schroders, 2020
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  35. ^ "The World's Best Cities". Best Cities.
  36. ^ The world’s best cities for 2021 have been revealed, Time Out
  37. ^ New report reveals the best cities in the world for 2021, Lonely Planet
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External links