London has been declared the best city brand in the world, according to the inaugural Brand Finance City Index. The index, presented by brand evaluation consultancy Brand Finance, is based on a global survey of nearly 15,000 people conducted across 20 countries. With a score of 84.6 out of 100, London outperformed all other cities, showcasing its strong brand perceptions and familiarity among respondents worldwide.
The success of London in the ranking can be attributed to its global familiarity, as explained by David Haigh, Chairman & CEO of Brand Finance: “Knowing a city allows the public to form positive perceptions about it – to recognize its reputation and to consider it as the preferred place to live, work, study, retire, visit, or invest.
High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, investment, and tourism.”The Brand Finance City Index not only measured familiarity but also evaluated respondents’ perceptions of general reputation and consideration of each city as a place to live, work locally, work remotely, study, retire, visit, or invest in.
The survey also delved into perceptions of various city brand attributes, grouped under seven pillars such as Business & Investment or Sustainability & Transport.
London secured the top spot in the overall ranking, excelling in dimensions such as study and tourism. Renowned for its academic excellence, the city boasts top-ranking universities and prestigious schools that attract students from around the world. Additionally, London’s rich cultural heritage, iconic landmarks, and vibrant theater district contribute to its status as a prime tourist destination.
Coming in second place is New York City, which secured its position with a Brand Finance City Index score of 83.0 out of 100. It shines as a global capital of finance, ranking second as the best city to invest in. The city’s esteemed universities and cultural offerings also contribute to its high ranking in the study.
Paris takes the third spot in the ranking, with a Brand Finance City Index score of 79.7 out of 100. As the “City of Love,” Paris is well-known for its beautiful architecture, renowned attractions, and vibrant cultural scene. It ranks first globally in the Culture & Heritage pillar, solidifying its reputation as a top tourist destination.
Dubai proves its standing as the top city brand in the Middle East, securing the ninth spot overall. Boasting a strong reputation in business and investment, Dubai ranks first for future growth potential in the Business & Investment attributes category. The city’s role as a major shopping destination and its growing significance in finance and trade contribute to its positive brand perception.
The Brand Finance City Index also highlights the strong performance of cities outside of Europe and North America. Sydney, ranked fifth overall, stands out as the best city to live in, while Singapore and Tokyo are the best-perceived cities from Asia, ranking sixth and seventh, respectively.
Despite its strong performance, Zurich, the top-ranked city for working locally, working remotely, investing, and retiring, falls behind in overall familiarity. This lower familiarity among the public hinders Zurich from securing a higher position in the ranking, despite its positive reputation and consideration among those who know the city well.
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