London claims top position for the second time in a row in a comprehensive benchmarking study of 30 leading business centres globally. Singapore comes second in PwC’s Cities of Opportunity Index; Toronto third, with Paris and Amsterdam completing the top five. Overall, European cities take four of the top ten places.
PwC’s Cities of Opportunity 7 provides a balanced benchmarking of the social and economic health of 30 of the world’s leading business cities. It measures their performance against 10 indicators including transportation and infrastructure, ease of doing business, demographics and liveability, technology readiness and cost.
The report demonstrates that cities succeed not only when they perform well economically, but when they succeed in providing a range of social features, including good quality of life, senior wellbeing, housing, and disaster preparedness—each of which demonstrates a strong relationship with top cities in the study.
Cities of Opportunity’s comprehensive measurement of major centres of business, commerce, intellectual capital and culture, highlights the complex economic and policy challenges cities face to succeed.
London retains the first position for the second edition in a row, and extends its lead against close rivals in the study. The city is among the top three in six indicators covered by the study, including intellectual capital and innovation; technology readiness; city gateway; demographics and liveability; economic clout; and ease of doing business. Any effects Brexit may have on London will take place in a process that will evolve over time and not overnight. Questions include the effects on talent mobility and migration, trade, investment and regulation, among others.
Singapore, the city-state renowned for its planned development, comes in second – up from third position in 2014. In addition to ranking #1 in three indicators – technology readiness, transportation and infrastructure and the ease of doing business – the city performs well in the area of tax. An analysis of corporate total tax rate, personal rate, and tax efficiency shows that Singapore, along with Dubai and Hong Kong, have the lowest rates and highest efficiency collectively