Stockholm beats Copenhagen in a new city ranking

• Stockholm leads the Nordic capitals as the 30^th best global city in the inaugural Brand Finance City Index, with Copenhagen close behind in 31^st, Oslo in 45^th and Helsinki in 50^th
• With a score of 84.6/100, London tops the ranking as the world’s best city
• New York and Paris are ranked 2^nd and 3^rd among 100 cities in the ranking
• Dubai proves its reputation as the top city brand in the Middle East, claiming a place in the global top 10
• Zurich leads rankings as the best city in the world to work locally, work remotely, invest, and retire, but low familiarity undermines its potential

View the full Brand Finance City Index 2023 here

Stockholm/London, 18^th May 2023 – Sweden’s capital Stockholm beats its Nordic competitors in the inaugural Brand Finance City Index, ranked 30^th overall, while Copenhagen jumps on its tail in 31^st. 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. The Index has named London as the best city brand in the world, followed by New York and Paris. 

Stockholm leads the way for Nordic nations in terms of global significance, ranking 15^th (with Helsinki 21 spots behind in 36^th) and shines as the 3^rd best city in the world for retirement and the 4^th best city globally for living. Sweden is renowned for its high standard of living, with excellent healthcare services, a well-developed infrastructure, and a strong social support system. The nation places a strong emphasis on social welfare, ensuring that retirees have access to a wide range of benefits and services. In general, the Nordic nations are widely recognised for their exceptional quality of life across all generations. As such, Stockholm ranks 3^rd for the attribute of being accessible to the elderly and those with disabilities, while Copenhagen and Helsinki jump just in front in 1^st and 2^nd respectively.

All the Nordic capitals in the ranking also score in the top 15 for good governance, with Stockholm 3^rd, Copenhagen 4^th, Oslo 6^th and Helsinki 15^th. Notably, Stockholm is ranked 1^st for the attribute of citizens participating in good governance. By actively participating in regular elections and utilising their democratic rights, Swedish citizens play a crucial role in influencing policies and contributing to good governance in their country. Further, the Nordic capitals also proudly secure spots in the top 10 for the attribute of low terrorism threat, with Copenhagen ranked 2^nd, Oslo 4^th, Stockholm 7^th, and Helsinki 8^th. The Nordics excel in fostering social cohesion and promoting open policies of expression and inclusivity. Their law enforcement and intelligence agencies collaborate extensively to identify and prevent security threats.

It is worth noting that the Nordics are all ranked low in the Index for familiarity. Stockholm is 59^th, Copenhagen ranks 55^th, Oslo is 79^th and Helsinki ranks 80^th. In contrast to the Index’s leading cities, London and New York, the Nordics’ lower recognition worldwide may be partly attributed to their language barriers. (All ranked 60th and below for speaks a language I understand) This barrier may deter some individuals from considering the city as a destination for travel, work, or study. While the Nordics tend to enjoy greater familiarity among those with a keen interest in Scandinavian culture, their cultural influence is evidently not as widely known nor globally dominant as that of the United Kingdom or the United States.

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. 

Anna Brolin, Managing Director for Brand Finance Nordics, commented:

"The Nordics are renowned for their strong and stable societies, robust governance, and welcoming values. From world-class healthcare and education to social welfare systems that embrace equality and inclusivity, the Nordics embody a standard of living that is unparalleled. To further enhance their global familiarity, the Nordics can highlight their distinctive combination of modern innovation and rich cultural heritage, establishing themselves as leaders in balancing tradition and progress."

London crowned as the world’s best city brand

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. The British capital hosts top universities – such as University College London, King’s College London, Imperial College London, and the London School of Economics, while prestigious schools in and near London that prepare for university – like Eton and Harrow –attract students from around the world. It is no surprise that the city comes 1^st globally for great universities and great private schools.

Thanks to iconic landmarks like the Houses of Parliament, Buckingham Palace, and the Tower of London, and renowned cultural institutions like the British Museum, National Gallery, and the West End theatre district, London is a prime tourist destination. London’s top global ranking as the best city to visit, is supported by its 3^rd place for great museums and art galleries and great theatres and music venues. The appeal of London can also be attributed to its strong identity and character, where London ranks 3^rd globally.

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 recognised 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 theatres 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.

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 1^st globally for beautiful architecture, great museums and galleries, and great theatres and music venues. The French capital also performs strongly in People & Values, ranking 2^nd globally for being open and welcoming, fun, andhaving a strong identity and character, but falling behind on being friendly where it ranks 25^th – perhaps in line with stereotypes.

Dubai proves its reputation as the top city brand in the Middle East

Ranking 1^st across the Middle East & Africa and 9^th overall, Dubai comfortably makes the top 10 of the world's best-perceived cities, with a Brand Finance City Index score of 75.8/100. Dubai has gained a reputation as the ‘City of Gold’ for being a major shopping destination for jewellery, but this title has grown to describe the city’s role in finance and trade more broadly. Dubai has performed well across multiple Business & Investment attributes, ranking 1^st for future growth potential, 2^nd in strong and stable economy, and 3^rd behind only New York and London as a city of global significance.

More cities from outside Europe and North America have performed well in the Brand Finance City Ranking too. From Australia, Sydney ranks 5^th overall, standing out as the best city to live in, 2^nd best to work and retire in, 3^rd best to study and invest in, and 5^th best to visit. Singapore, 6^th in the ranking, and Tokyo, 7^th, are the best perceived cities from Asia. Singapore boasts strongest perceptions globally as great for startups and innovations as well as clean and sustainable. It is also 2^nd for easy to do business in, and 3^rd for both strong and stable economy and future growth potential. At the same time, Tokyo ranks 1^st as the global leader in science and technology.

Zurich leads rankings as the best city in the world to work locally, work remotely, invest, and retire, but low familiarity undermines its reach

Zurich is a highly desirable destination to work locally, work remotely, invest, and retire, claiming the top spot for each dimension. The city scores exceptionally well on reputation (4^th)and consideration (1^st)when considering all seven dimensions combined too, but a low score on familiarity (53^rd) prevents it from taking a higher spot in the overall Brand Finance City Index ranking (17^th).

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

“Zurich is a great example of a city brand successful in converting familiarity and perceptions into reputation and ultimately consideration. More so than for other cities, those that get to know Zurich, feel persuaded by its appeal as a destination, especially for work, investment, and retirement. Much like Swiss watch brands, Zurich is a “luxury city brand” – with a lower familiarity among the public, but a high regard among those that know it well. The trade-off of this positioning is a more modest reach than that of more popular city brands, such as London, New York, or Paris.”

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.