Everyone Wants a Bite of the Big Apple: NYC Named World’s 2nd Best City Brand in New Ranking

• NYC ranks second behind London in the inaugural Brand Finance City Index, based on a global survey of 15,000
• London tops the ranking, scoring 84.6/100
• Los Angeles and San Francisco claim 4^th and 8^th, respectively
• Miami, is perceived to be the best city in world for Livability
• Chicago’s and Boston’s great minds help them secure spots in top 20
• Paris rounds off the top 3 with a score of 79.7/100

View the full Brand Finance City Index 2023 here

London has been named the best city brand in the world, followed by New York and Paris, by the inaugural Brand Finance City Index released today. Presented by brand evaluation consultancy Brand Finance, the ranking is based on a global survey of close to 15,000 members of the public conducted in April 2023 in 20 countries on all continents to measure perceptions of the world’s top 100 cities. With a score of 84.6 out of 100, driven by its high familiarity among respondents worldwide, London has recorded stronger brand perceptions than any other city in the study. Familiarity is understood as knowledge about the city gained through repeated exposure or direct experience, and it allows to form a deeper affinity for its brand.

David Haigh, Chairman & CEO of Brand Finance, commented:

“London’s exceptional performance in the Index can be attributed to its global familiarity. Coming first on this particular measure, London has a huge advantage over its peers, leading to its success in the ranking overall as the world’s best city. Knowing a city allows the public to form positive perceptions about it – to recognize its reputation and to consider it as the preferred place to live, work, study, retire, visit, or invest. High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, investment, and tourism.”

To arrive at a comprehensive assessment of the city brands in the ranking, alongside measuring familiarity, the survey asked the respondents about the general reputation and their personal consideration of each city as a place to live, work locally, work remotely, study, retire, visit, or invest in. The evaluation of preferences across these seven dimensions was complemented by perceptions of 45 underlying city brand attributes, grouped under seven pillars, such as Business & Investment or Sustainability & Transport.

Crowned as the overall winner, London ranks 1^st in two of the seven key dimensions – study and visit – as well as in the top 4 in all other ones. Renowned as a hub for academic excellence, London is ranked as the best city globally to study. London also tops the global ranking as the best city to visit, this is supported by its 3^rd place for great museums and art galleries and great theatres and music venues.

Everyone wants a bite of the Big Apple, coming 2^nd behind only London

New York City has secured 2^nd spot, behind London, with a Brand Finance City Index score of 83.0 out of 100. NYC also ranks 3^rd globally in familiarity and boasts 2^nd spot in three out of the seven key dimensions: invest, study, and visit.

Widely regarded as the global capital of finance, NYC ranks 2^nd behind only Zurich as the best city to invest in. It comes 1^st for the city of global significance, easy to do business in, and strong and stable economy attributes, which explains its appeal to investors.

Home to several of the world's most esteemed universities - including Columbia, NYU, and the City University of New York – the Big Apple has also been recognized as the 2^nd best city in the world to study in behind only London. It is 2^nd for the great universities and leader in science and technology attributes, comes 4^th for great private schools, but falls much behind London on great publicly funded schools, ranking 41^st overall. In general, NYC is perceived as the least affordable city in the ranking, coming 100^th.

Ranking 1^st for great shopping, restaurants and nightlife and 2^nd for great theaters and music venues, home to Fifth Avenue shops and Broadway theatres, NYC lives up to its name as the ‘city that never sleeps’. As a result, NYC ranks as the 2^nd best city in the world to visit.

LA-LA Land: the world’s 4^th best city brand

Two cities from the west coast of the US make the global top 10 alongside New York City, Los Angeles, and San Francisco. Los Angeles ranks as the 4^th best city brand with a Brand Finance City Index score of 78.6 out of 100.

Synonymous with the world of cinema, the city has positioned itself as the hub for creativity and innovation in the entertainment industry, with unparalleled cultural influence and contributions to the field. This, paired with the city's iconic landmarks including the Hollywood sign, Santa Monica Pier, and the Walk of Fame, contributes to LA’s 4^th place rank for Familiarity and 13^th for the best city in the world to visit.

LA also records a robust performance across the Livability pillar, sitting in 9^th place. Ranking 7^th for nice weather and featuring sunny skies all year round is just one of the many reasons why perceptions of living there are so positive. It is important to note, however, that the city has also experienced devastating wildfires in recent years, which can affect air quality and pose a threat to residents and wildlife. Despite this, the city continues to rebuild and adapt to changing environmental conditions. The appealing lifestyle is another major draw, thanks to the city's vibrant arts scene, diverse culinary offerings, stunning natural surroundings, and sprawling coastline.

San Francisco sits in 8^th with a golden business reputation

San Francisco, California's second city to claim a spot in the top 10, has secured 8^th position with a Brand Finance City Index score of 76.3 out of 100.

The city is renowned for being the birthplace of Silicon Valley, where some of the world's most successful and innovative tech giants, such as Apple, Facebook, and Google, were founded. As a result, San Francisco has gained a reputation for being a leading hub of technological innovation and development, ranking 3^rd globally for perceptions of being great for start-ups and innovations and 3^rd for easy to do business in.

Aside from its technological prowess, San Francisco is also recognized as the 9^th best city to visit in the world. This is not surprising, given its rich cultural heritage and natural beauty. Tourists can enjoy exploring San Francisco's diverse neighborhoods, visiting one of its many museums and galleries, or witnessing the iconic Golden Gate Bridge. Tourism aside, San Francisco scores extremely highly in the appealing lifestyle attribute ranking 5^th.

Welcome to Miami – the world’s most livable city

Miami has emerged as a top contender, ranking 11^th overall with a Brand Finance City Index score of 73.6 out of 100. Miami really excels in the Livability pillar, outranking every other city. Mild winters, year-round sunshine, and beautiful beaches make it an ideal location for outdoor activities and relaxation and explains its first-place ranking for nice weather and 6^th spot for having an appealing lifestyle.

Chicago and Boston secure top-20 spots

Chicago sits in 15^th, with an overall Index score of 72.2 out of 100, while Boston just makes it into the top 20 in 20^th position, with a score of 71.0 out of 100.

Both cities have garnered significant recognition for their academic prowess with their exceptional universities, contributing to them both achieving top-5 places in the great universities attribute. This recognition highlights the cities' ongoing efforts to nurture their intellectual capital and foster a learning culture. With top-notch institutions such as the University of Chicago, Northwestern University, Harvard University, and the Massachusetts Institute of Technology, both Chicago and Boston boast some of the finest minds in the world.

Paris is in vogue, ranked 3^rd in the world

Paris rounds off the podium, coming 3^rd in the ranking with a Brand Finance City Index score of 79.7 out of 100. Paris is also ranked as the world’s 2^nd most familiar city.

Complementing its strong familiarity score, the ‘City of Love’ is also ranked as the 3^rd best city in the world to visit. Boasting an abundance of renowned attractions, including the Eiffel Tower, the Louvre Museum, and the Moulin Rouge, Paris unsurprisingly scores better than any other city in the Culture & Heritage pillar, ranking 1st globally for beautiful architecture, great museums and galleries, and great theaters and music venues. The French capital also performs strongly in People & Values, ranking 2nd globally for being open and welcoming, fun, and having a strong identity and character, but falling behind on being friendly where it ranks 25th – perhaps in line with stereotypes.

View the full Brand Finance City Index 2023 here

ENDS

Note to Editors

Presented by brand evaluation consultancy Brand Finance, the Brand Finance City Index is based on a global survey of close to 15,000 members of the public conducted in April 2023 in 20 countries on all continents to measure perceptions of the world’s top 100 city brands.

To arrive at a comprehensive assessment of the city brands in the ranking, alongside measuring familiarity, the survey asked the respondents about the general reputation and their personal consideration of each city as a place to live, work locally, work remotely, study, retire, visit, or invest in. The evaluation of preferences across these seven dimensions was complemented by perceptions of 45 underlying city brand attributes, grouped under seven pillars (Business & Investment, Liveability, Culture & Heritage, People & Values, Sustainability & Transport, Governance, and Education & Science).

To ensure comparability among the top 100, the Index excludes domestic perceptions about city brands, taking into account those of foreign respondents only. Nevertheless, the domestic perceptions were also measured in the survey and are available for the 20 countries where the research was conducted.

The full Brand Finance City Index 2023 report with additional charts, commentary, and expert contributions will be presented at the City Nation Place Americas Conference in New Orleans on 7-8^th June 2023.

About Brand Finance

Brand Finance is the world’s leading brand evaluation consultancy. Bridging the gap between marketing and finance for more than 25 years, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations of all kinds make strategic decisions.

Headquartered in London, Brand Finance has offices in over 20 countries, offering services on all continents. Every year, Brand Finance conducts over 5,000 brand valuations, supported by original market research, and publishes over 100 reports that rank brands across all sectors and countries.

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Disclaimer

Brand Finance has produced this study with an independent and unbiased analysis. The data derived and opinions presented in this study are based on survey findings, publicly available information, and certain assumptions that Brand Finance used where such data was deficient or unclear.

Brand Finance accepts no responsibility and will not be liable in the event that the information relied upon is subsequently found to be inaccurate. The opinions and data analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any individual, government, or organisation.

The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.

Brand Finance is an independent consulting firm. The objective of the present survey is to disseminate the outcomes of the perceptions gathered in a survey conducted in April 2023 with no intention of exerting any influence on public opinion or electoral outcomes of any of the cities or countries comprised in the study.