London has been awarded the most attractive city in the world for the second consecutive year in the latest “Cities of Opportunity 7” rankings released this Wednesday, September 6th by PricewaterhouseCoopers (PWC). The British capital city is followed by Singapore, Toronto and Paris, and Amsterdam. New York, meanwhile, drops down 4 places, ranking 6th.
London is praised for its performance in several categories despite the United Kingdom's decision to leave the European Union. The British capitals thus remains a top destination for employment and business, especially due to its noteworthy economic performance and in terms of innovation, demography and quality of life, despite the high cost of living.
As a major financial center, London remains the most cosmopolitan and well-balanced city in Europe and the whole world thanks to its human capital and its flexible tradition. However, the report points out that Brexit effects are likely to have an impact on immigration and labor mobility, trade and investment, as well as regulations in the future, but this does not alter its current position.
The City-State, for its part, rises from the 3rd to the 2nd place since the 2014 report. Singapore is world-famous for its planned development through three main factors, namely, technology, transportation and infrastructure and the ease of doing business. Singapore also shows a very good tax performance with very low rates when it comes to personal income tax and total corporate tax. Moreover, the City-State provides an incomparable quality of life to its residents in many ways such as housing, health, communication, safety, etc.
Ranking 3rd, Toronto shows an outstanding performance in terms of the daily needs of its urban residents, although calm and cold for much of the year and overshadowed by the dynamism of many US cities. As Canada's biggest city, Toronto also provides a significant level of health and safety to its residents. It also stands out in terms of natural environment and sustainable development. Thanks to its strong and high quality economic performance, Toronto has always ended up in the top 5, according to PWC.
Rising from the 6th place in 2014 to the 4th, Paris remains favorably dynamic despite recent terrorist attacks and other economic and political challenges it has been facing during the past few years. The “City of Lights” is even described as bright and glorious by PWC, matching New York in terms of demography and quality of life in a global way. Paris thus stands out as an attractive city for its intellectual capital and innovation, as well as its infrastructure for leisure and business tourism.
Sources :
- PricewaterhouseCoopers : http://www.pwc.com/us/en/cities-of-opportunity/2016/cities-of-opportunity-7-report.pdf
