NYC is perceived to be the world’s most globally significant city

New Brand Finance perceptions study underscores NYC’s international prestige, yet governance issues temper perceptions domestically.

• New York City ranks as the world’s second-best city brand and is perceived as the most globally significant city, according to Brand Finance’s Global City Index
• Other top-ranked US cities include Los Angeles (7^th), San Francisco (9^th), and Miami (16^th)
• London, New York, and Paris remain the world’s top 3-ranked cities across all metrics, as Tokyo and Dubai rise to 4^th and 5^th overall
• The research is based on a survey of 15,000 respondents across 20 countries, providing global insight into the world’s top city brands

[NEW YORK] 7^th November 2024 – New York City is the world's second-best city brand according to the latest Brand Finance Global City Index, the most comprehensive global survey of city perceptions.

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.

New York City also stands as the second most Familiar city globally. Its frequent visibility on the global stage fosters positive perceptions, significantly enhancing its international reputation, particularly in areas of culture, economic strength, and influence.

Domestically, perceptions of New York starkly contrast with its global reputation, as the Brand Finance US City Index ranks it 11^th overall, primarily due to governance issues. Recent developments, including Mayor Eric Adams's indictment on federal bribery charges, have severely eroded trust in the city's leadership. While international respondents may overlook or forgive these challenges due to New York City’s cultural and economic influence, domestic respondents are less forgiving. US audiences rated New York 47^th for law enforcement, ethical standards, and corruption, 49^th for low crime and violence, and last for trustworthiness, viewing these governance concerns as genuine obstacles to the city’s appeal and reputation.

New York remains a leading global hub for business. It ranks 4^th globally for Business & Investment, 1^st for being a city of global significance,and2^nd for being easy to do business in.

Laurence Newell, Managing Director, Brand Finance North America, commented:

“New York City’s global reputation remains incredibly strong, particularly in culture and business. However, the city’s governance challenges, highlighted by recent political scandals, are already undermining its image domestically and can begin to affect its appeal on the international stage. While these issues do not seem to impact tourism, they may pose longer-term risks for those considering New York as a place to live, work, or invest. To retain its status as a global leader, New York must address these governance concerns while continuing to leverage its unmatched economic and cultural strengths.”

In addition to New York City, two other American cities feature in the Global City Index's top 10. Los Angeles ranks 7^th overall, celebrated for its vibrant fun factor, although it has slipped from the top 5, mainly due to the rise of cities like Tokyo and Dubai. San Francisco holds the 9^th spot, recognized for its dynamic start-up ecosystem, bolstered by its close ties to Silicon Valley.

Miami is 16^th overall, leading in Liveability and securing the 2^nd spot for consideration to retire, thanks to its appealing climate and cultural vibrancy. Meanwhile, Texas cities Houston (35^th) and Dallas (40^th) have each climbed five places in the Index, gaining recognition for their economic prowess and attractive employment opportunities. Houston ranks 2^nd globally for ease of finding employment and 9^th for attractive corporate taxation.

Global Results

London retains its position as the world’s best city brand. London continues to perform well in familiarity and reputation, ranking 2^nd for Education & Science and 3^rd for Culture & Heritage. However, London is ranked 19^th in Consideration, with respondents indicating they do not perceive it among the best cities to live in, work in, invest in, or retire in – perhaps due to a high cost of living, underscored by its 97^th out of 100 rank for affordability.

Konrad Jagodzinski, Place Branding Director at Brand Finance,commented,

“London continues to shine as the world’s best city brand thanks to its strong international presence, rich cultural identity, and renowned educational institutions. However, challenges like affordability and perceived bureaucracy, including post-Brexit visa complexities, impact its image. While London ranks high for global significance and strong economy, its scores in liveability suggest room for improvement in how the city is perceived by international audiences. Strengthening these perceptions will be key for London to maintain its global appeal."

On the back of hosting the 2024 Olympics, Paris retains 3^rd rank, with the highest perceptions in the Culture & Heritage pillar. Tokyo climbs to 4^th rank overall, owing to its perception as the world’s leader in science and technology. However, there is a gap between its strong position overall and its lower Consideration ranking (43^rd), driven by its poor scores for language familiarity (76^th) and how hard it is to get a visa (73^rd).

Though essential for overall success, Brand Finance data reveals that global familiarity is not necessary to develop an edge in a specific dimension. For example, a relatively smaller city like Zurich is perceived as the best place to work in for the second year running. At the same time, Melbourne, a regional rather than a global hub, is recognized as the best city to live and retire in.

David Haigh, Chairman and CEO of Brand Finance, commented,

“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 worldwide in implementing effective strategies to drive growth.”

Breakdown of top cities across regions

• Europe: After London (1^st) comes Paris (3^rd), ahead of Amsterdam(10^th), Zurich(11^th), Rome (12^th), and Berlin (13^th).
• North America: New York is the top city (2^nd), followed by Los Angeles (7^th), San Francisco (9^th), and Toronto (14^th).
• Asia-Pacific: Behind Tokyo (4^th overall) comes Singapore (6^th), ahead of Sydney (8^th) and Melbourne (22^nd).
• Middle East & North Africa: Dubai (5^th) leads ahead of Abu Dhabi (30^th).
• Latin America: Six cities are ranked in the top 100 - Santiago (56^th), Mexico City (58^th), São Paulo (62^nd), Rio de Janeiro (64^th), Buenos Aires (67^th), and Bogotá (87^th).
• Sub-Saharan Africa: Cape Town is the highest ranked at 66^th overall. Three other cities: Johannesburg (72^nd), Nairobi (85^th), and Lagos (91^st) - are also featured in the Index.

With the introduction of regional expansions, including the US City Index launched earlier this year, the report helps city leaders worldwide understand the top 100 global city brands.

For a detailed breakdown of the rankings and insights into the global city brands, visit the full report at www.brandfinance.com/globalcityindex.