New York and London Rank 1st and 2nd Among World's Top 1,000 Cities... Seoul Ranks 41st

Most of the Top 50 Are US and European Cities

[Image source=Yonhap News]

In the 'Top 1000 Cities in the World' ranking that comprehensively evaluates the economies of various cities, New York in the United States and London in the United Kingdom were ranked first and second, respectively.

Bloomberg reported on the 21st (local time) that Oxford Economics, a global financial consulting firm based in the UK, announced the world's top 1000 cities for the first time through the 'Global Cities Index.' This index was measured across five broad categories?economy, human capital, quality of life, environment, and governance?and 27 detailed indicators.

The economic category, including gross domestic product (GDP) and employment growth, was allocated the highest 30 points out of 100, while human capital and quality of life were each assigned 25 points. The remaining two categories were given 10 points each. In the final tally, most of the top 50 cities were from the United States and Europe. San Jose, California, USA ranked third, and Paris, France was fifth. Additionally, American cities Seattle, Los Angeles, and San Francisco, followed by Melbourne, Australia, and Zurich, Switzerland, were included in the top 10 cities.

New York ranked first in the economic category. It was highly evaluated for having the largest economic scale and maintaining stable growth compared to any other city in the world. Following New York, American cities Los Angeles, San Jose, Seattle, and San Francisco occupied the top five positions.

In Asia, Tokyo, Japan ranked highest at fourth place. Seoul was ranked 41st, and Busan was placed at 252nd. Seoul ranked fifth in human capital, which includes education level, corporate headquarters, and population growth. Singapore ranked 42nd, Taipei, Taiwan 65th, Hong Kong 76th, and Osaka, Japan 91st.

In the quality of life category, Grenoble, a city in southeastern France, topped the list due to low income inequality and abundant cultural opportunities per capita. New York and London were ranked 278th and 292nd, respectively.