Looking back over the past 10 years, the world's cities were faced with a global financial crisis stemming from the American subprime loan predicament in 2007, and then crossing several years since the beginning of the GPCI, results for top cities like London and New York have continued to fall.Īlthough there are many cities which have failed to recover their scores to the same level as before the global financial crisis, there is still a city whose urban power has steadily grown. This year marks the tenth year since the GPCI was first published in 2008. 4 in Economy due to weaker scores in “Market Size” and “Market Attractiveness.” However, Japan’s capital city slips from No. This is a result of the American city’s score stalling while Tokyo continues to improve every year in the Cultural Interaction indicators of Number of Visitors from Abroad and Number of International Students. 3 ranking for the first time last year and closes the gap on New York (No. 2) increases its scores for the Economy indicators of Nominal GDP and GDP Growth Rate, but fails to make any significant headway in comprehensive score, having returned weaker scores this year in Cultural Interaction indicators such as Number of World-Class Cultural Events Held and Livability indicators like Variety of Retail Shops. 1 city in the comprehensive ranking for the sixth year in a row, further extends its lead over the competition by improving its scores for such indicators as GDP Growth Rate and Level of Political, Economic and Business Risk in Economy, and for Attractiveness of Dining Options and Number of Visitors from Abroad in Cultural Interaction.
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