‘2021 Global Top 500 Cities’ list released

NEW YORK: On December 30, 2021, in New York City, Global City Lab released “Global Top 500 Cities.” It investigates the COVID-19’s impact on the brand value of the world’s most famous cities. According to the survey, New York is the most valuable city in the world, with a brand worth of $2.04 trillion (all figures are in U.S. dollars). With a brand worth of $1.90 trillion, London has surpassed Tokyo to take second position. Tokyo’s value fell 5.37 percent, putting it in third place with a $1.78 trillion market capitalisation. Brand values of Paris, Singapore and Sydney, exceed $1 trillion. The top 10 is completed by Los Angeles, Toronto, Shanghai, and Hong Kong, with the last two placing 9th and 10th, respectively. The analysis discovered that blockchain and cryptocurrency are having an impact on the cities’ future.

The brand of a city shows its overall strength. It affects the flow of capital, information, goods and talent and so has an impact on a city’s development potential. As a result, assessing a city’s brand value provides a more complete picture of the city. Global City Lab is the first professional organisation dedicated to assessing city brand values in the globe. It uses six metrics to determine brand value: economic growth, culture, governance, environment, talent, and reputation. Every year, Global City Lab releases its “Global Top 500 Cities” study.

The top 500 cities are located in 125 different nations. With 63 cities, the United States is leading, followed by China with 40. Third to sixth place go to Japan, the United Kingdom, Germany and India.