São Paulo’s economic strengths and friendly image secure its place as Brazil’s top city brand

• São Paulo has improved perception for its People & Values and leads in Brazil for Business & Investment
• Rio de Janeiro leads in Familiarity, but faces economic and governance hurdles
• Top three global cities, London, New York, and Paris, hold steady from previous year, but emerging cities include Dubai and Tokyo

LONDON, 7^th November 2024 – São Paulo is now perceived as the top city brand in Brazil, rising eight places to 62^nd globally, according to the latest Brand Finance Global City Index, the most comprehensive global survey of city perceptions. São Paulo now sits above Rio de Janeiro which has fallen nine places to 64^th.

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 pillars such as Culture & Heritage, Education & Science, and Business & Investment. The results factor into city scores on 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.

Brazil’s two largest cities perform well in the People & Values pillar, with São Paulo ranking 37^th (up 31 ranks) and Rio de Janeiro in 56^th. São Paulo is seen as Open and welcoming (21^st), Diverse/multicultural (24^th), friendly (26^th), and fun (26^th) —all improvements from 2023 and showing a growing global perception of São Paulo’s welcoming population. As Brazil’s and Latin America’s economic hub, São Paulo also ranks 59^th in the Business & Investment pillar, well ahead of Rio at 82^nd. It is recognised for attractive corporate (31^st) and personal taxation (39^th) and places 32^nd for future growth potential, underscoring its favourable outlook as a business and trade centre.

Rio de Janeiro is known for its iconic landmarks, hosting the 2016 Olympics, and the renowned Carnival (scoring 1^st for Outstanding cultural festivals), which is reflected in its ranking as 37^th in  Familiarity, ahead of São Paulo, which ranks 61^st. Similar to the Brazilian Capital, Rio is also considered fun (3^rd), diverse/multicultural (14^th), and open and welcoming (17^th), perhaps a result of the Carnival, while also being recognised for its nice weather (12^th) and famous sports teams 14^th, as a result of its well-known football teams such as Flamengo.

Despite these positives, Rio de Janeiro continues to face challenges, dropping nine spots in the overall ranking. Its Consideration score fell by ten places to 64^th, with a more significant drop of sixteen places in Business & Investment. Key areas of concern include a fall in its perception as a city of global significance (down 14 to 69th), strong and stable economy (down 24 to 87th), and easy to find employment (down 31 to 90^th). While Governance improved slightly, ranking 76^th globally, Rio continues to struggle in other governance areas, including low crime and terrorism threat (94^th) and low bureaucracy (74th).

Eduardo Chaves, Managing Director of Brand Finance Brazil, commented:

“For decades, much of Latin America has faced political, social, and economic unrest, resulting in instability that often hampers governance and business growth in its cities, reflected in the region’s poor scores across these pillars. However, this backdrop of challenges has not diminished the region’s rich culture. Cities like São Paulo and Rio de Janeiro continue to thrive as vibrant cultural epicentres. The interplay between these challenges and cultural vitality positions Latin America as a region of both promise and complexity.”

Global Results

London retains its position as the world’s top city brand. The city excels in Familiarity (3^rd) and Reputation (3^rd), exemplifying its strong global profile and appeal. However, London faces challenges in Consideration (19^th), particularly in areas like living, investing, and retiring, with affordability (97^th) emerging as a major concern. New York and Paris hold the 2^nd and 3^rd ranks, respectively. Paris leads in Culture & Heritage, while New York is top for Education & Science. Tokyo has risen to 4^th and is perceived as the world's leader in science and technology.  Dubai, now 5^th globally, is perceived as the world’s most reputable city, and leads for future growth potential and investment appeal.

David Haigh, Chairman and CEO, 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 across the world in implementing effective strategies to drive growth.”

With the introduction of regional expansions, including the US City Index launched earlier this year, the report helps city leaders across the world to 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/globalycityindex.