BEIJING, 12 November 2024 – Hong Kong climbed two places to 33rd this year, ranking among the top 35 world cities, according to Brand Finance Global City Index, the most comprehensive global survey of city perceptions. The bustling business hub also ranks 7th for ‘familiarity’ among global cities and 19th for perceived ‘future potential growth’
The 2024 results are based on a survey of over 15,000 respondents across 20 countries, offering a detailed look at how the world’s leading city brands are viewed. Respondents were asked to rate 100 cities on Key Performance Indicators: Familiarity, Reputation, and Consideration, indicating how strongly these cities are perceived as places people would want to live, work, study, visit, retire, and invest in. In addition, respondents chose from 45 attributes grouped under seven pillars, including Culture & Heritage or Business & Investment, that they associated with city brands.
Beijing experienced tremendous growth as it moved up 37 spots to rank 6th as a ‘city with strong identity, character and civic pride’. The city also ranks 8th for its ‘access to skilled workforce’.
Another prominent Chinese city, Shanghai, ranked 4th for ‘science and technology’ for the second consecutive year. The vibrant city also came in 6th for perceived ‘future potential growth’. Known for its strategic location as a financial hub, Shanghai came in at 11th as a ‘city of global significance’.
"Major Chinese cities such as Hong Kong, Beijing and Shanghai are regional powerhouses given their remarkable growth across various economic indicators, over the years.
The latest Brand Finance Global City Index’s findings further support the on-going advancements across these bustling cities in China, as Beijing and Shanghai, among others, offer easy access to leading technological developments, spurring sustainable economic growth across various industries"
Scott Chen, Managing Director China, Brand Finance.
London retains its position as the world’s top city brand. The city excels in Familiarity (3rd) and Reputation (3rd), exemplifying its strong global profile and appeal. However, London faces challenges in Consideration (19th), particularly in areas like living, investing, and retiring, with affordability (97th) emerging as a major concern. New York and Paris hold the 2nd and 3rd ranks, respectively. Paris leads in Culture & Heritage, while New York is top for Education & Science. Tokyo has risen to 4th and is perceived as the world's leader in science and technology. Dubai, now 5th globally, is perceived as the world’s most reputable city, and leads for future growth potential and investment appeal.
“The 2024 study reveals that familiarity can be a double-edged sword. For example, while London remains the world’s best city brand overall, its perceptions across certain metrics have weakened this year. It is no longer considered the world’s top city to visit – overtaken by Rome, or to study in – where Boston is now top of class. These findings provide valuable insights into the changing perceptions and priorities of residents and visitors, which can help guide decision makers in cities across the world in implementing effective strategies to drive growth.”
David Haigh, Chairman and CEO, Brand Finance
With the introduction of regional expansions, including the Brand Finance US City Index launched earlier this year, the study helps local governments and destination marketing organisations across the world to understand their city brands better.
For a detailed breakdown of the rankings and insights into the global city brands, visit the full report at brandfinance.com/globalcityindex
Note to Editors
Presented by brand evaluation consultancy Brand Finance, the Brand Finance Global City Index is based on a global survey of over 15,000 members of the public conducted in September 2024 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.
About Brand Finance
Brand Finance is the world’s leading brand evaluation and strategy 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 more than 5,000 brand valuations, supported by original market research, and publishes over 100 reports which 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 values derived and opinions presented in this study are based on 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 if the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial 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.
