A.T. Kearney Global Cities 2015 Identifies 16 Elite Cities Based on Their Current Performance and Future Potential

CHICAGO, May 20, 2015 /PRNewswire/ -- New York and London remain the world's most global cities, as they are the only cities to rank in the top 10 of both the Global Cities Index and the Global Cities Outlook according to the A.T. Kearney Global Cities 2015 that was released today. San Francisco leads the Global Cities Outlook due to its strength in innovation. Other cities ranking at the top of the Global Cities Outlook include London (#2), Boston (#3), New York (#4), and Zurich (#5).

The Global Cities 2015 includes two parts—The Global Cities Index (GCI) and the Global Cities Outlook (GCO). This is the fifth edition of the GCI, which was launched in 2008. The GCI provides a unique assessment of global engagement for 125 cities representing all continents and regions, measuring how globally engaged each city is across 26 metrics in five dimensions—Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement. The GCO is new this year: It evaluates the future potential of 125 cities based on the rate of change across four dimensions—Personal Well-being, Economics, Innovation, and Governance.

Mike Hales, A.T. Kearney partner and study co-leader, comments, "We have identified 16 cities that are ranked in the top 25 of the GCI, indicating superior current performance, and in the top 25 of the GCO, indicating future potential. We call these cities the 'Global Elite.' Beyond New York and London the Global Elite includes Los Angeles, Chicago, Toronto, San Francisco, Boston, Paris, Brussels, Berlin, Amsterdam, Tokyo, Singapore, Seoul, Sydney and Melbourne."

Erik Peterson, A.T. Kearney partner and managing director of the A.T. Kearney Global Business Policy Council, states, "The structure of the Global Cities 2015 measures both the current performance and future potential of cities to attract and retain global capital, people, and ideas. As cities continue to expand their global influence, the Global Cities results inform the strategies of business leaders (placement of regional headquarters, research centers, and other operational hubs) and city governments (improvement plans and investment decisions)."

Topline Findings from the 2015 Global Cities

The race for global city status is accelerating. Since 2008, the average GCI scores have increased by 10 percent. Cities that can only maintain their score, therefore, will likely decline in the rankings. Although the top five cities in the GCI have largely retained their position since the Index was launched in 2008, the overall Index scores are becoming more tightly grouped.

In comparing the top GCI cities in Europe versus North America, the European cities prevail today, but North American cities perform better in the GCO, showing more future potential, especially in innovation. The top cities in China significantly outperform those in India today, but the race for the future is much tighter.

Andres Mendoza-Pena, A.T. Kearney principal and study co-author, notes, "In reviewing the 16 cities that make up the Global Elite, all of these cities are from advanced economies. Cities in advanced economies enjoy a significant lead on innovation, which may become tomorrow's key differentiator for global cities."

Regional Findings

Asia Pacific
Chinese cities continue to rise. Beijing, in 9th position in the GCI, continues in the top 10 for the second year in a row, thanks to an increase in the number of international organizations, inhabitants with tertiary degrees, and improvements in the scores of its universities.  Shanghai maintained its spot in the GCI top 25, carried by its strong scores in business activity and human capital.

"Kolkata and Mumbai head up the list of fastest-growing cities in the GCI," notes Johan Gott, A.T. Kearney consultant and co-author of the study. Although these cities are currently in the lower half on the dimension of business activity, their rapid improvement in human capital will allow them to continue to improve their scores quickly and to reach business leaders in the future. The top three fastest-improving cities are in India, followed by Ho Chi Minh City."

For the GCO, cities in China and India are the ones to watch, especially Beijing in China and Ahmedabad and New Delhi in India. Both countries' cities will need to focus on innovation in order to see further improvements. Seoul is the only city in the region to make the top 10 in the GCO.

With Melbourne on the rise and Sydney's solid performance, Australia has two cities in the top 25 in the GCI and GCO. With only 16 cities ranking in the top 25 in both the Index and Outlook, this bodes well for Australia's future.

Americas
New York continues as the solid absolute leader in the GCI, outscoring all the other American cities on every dimension except political engagement, where Washington, D.C. takes the top position. Boston is ranked 3rd in the GCO, driven by high scores on "patents per capita."

Buenos Aires makes it into the top 20 of the GCI this year for the first time due to a strong performance in human capital and cultural experience, representing the only Latin American city to make the GCI top 25.

Europe and the Middle East
London maintains its 2nd position in the GCI where it is the strongest in Cultural Experience. London also holds the number 2 spot in the GCO, where it leads in Economics.

Paris maintains its 3rd place in the GCI, ranking first in Information Exchange, but falls to number 19 in the GCO.

In the GCI Dubai is ranked 26th. The city's flourishing crossroads of trade and regional headquarters for major corporations makes it a leader in Business Activity, Human Capital, Information Exchange, and Cultural Experience.

Africa
Johannesburg (55) and Cape Town (69) saw their ranks improve the most in the GCI, with Johannesburg seeing the biggest growth in Political Engagement and Cape Town in Human Capital.

For more information on the Global Cities 2015, go to http://www.atkearney.com/research-studies/global-cities-index.

2015 A.T. Kearney Global Cities Index and Global Cities Outlook Methodologies
The A.T. Kearney Global Cities Index (GCI) ranks 125 cities according to 27 metrics across five dimensions, including Business Activity, Human Capital, Information Exchange, Cultural Experience, and Political Engagement.

The Global Cities Outlook (GCO) examines 125 cities and ranks 13 leading indicators across four dimensions – Personal Well-Being, Economics, Innovation, and Governance. The rank and score in the GCO is determined by measuring change across each metric in the past five years, then projecting out to 2024. It measures the likelihood that a city will improve its global standing over the next 10 to 20 years.

Together they create an unmatched perspective into global cities by:

• Providing a view of current performance and future potential
• Identifying trends from six years of historical results
• Analyzing the performance of 125 cities representing all regions
• Measuring a holistic set of metrics and indicators at a city level

About A.T. Kearney
A.T. Kearney is a leading global management consulting firm with offices in more than 40 countries. Since 1926, we have been trusted advisors to the world's foremost organizations. A.T. Kearney is a partner-owned firm, committed to helping clients achieve immediate impact and growing advantage on their most mission critical issues. For more information, visit www.atkearney.com.

Contact: Meir Kahtan  
Meir Kahtan Public Relations, LLC 
Phone:+1 212.575.8188
Email: [email protected]

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SOURCE A.T. Kearney

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