The capital has increased its lead over New York in the Global Power City Index but still lags behind other cities in the cost of living and environmental stakes
We have always liked to think of London as the world’s most powerful city, what with its booming tech scene, soaring tourist levels and iconic landmarks. And it's now been well and truly been confirmed by the Mori Memorial Foundation Institute for Urban Strategies.
In its eighth Global Power City Index (GPCI), London was handed the title of the world’s most powerful city for the fourth year in a row, increasing its lead over second-placed New York. This increase is in a large part thanks to London's improving economy: it has jumped from fourth place to second in the last year. London also came in the top three for several other categories, scooping top place for cultural interaction, second place for accessibility and third place for research and development. The research also found that London’s overall magnetism greatly increased in 2012 as the capital began preparing for the Olympic and Paralympic games, as well as other huge cultural and sporting events the following year.
However, there are some areas where London still lags behind other cities. High living costs and consumer prices meant the city only ranked nineteenth for liveability and it ranked just eighth in the environment table.
Mayor of London Boris Johnson, said: “With a thriving economy, an unrivalled cultural scene, numerous top sporting venues, some of the best universities in the world, a low crime rate and much else besides, it is no wonder that London continues to outstrip other cities across the world. As London grows to record levels we are working hard to build the new homes and deliver the infrastructure that will ensure we remain a global powerhouse for decades to come.”
Greg Clark CBE, chairman of the Business of Cities, added: “The 2015 Global Power City Index powerfully illustrates the current strength of London's visitor and investor brands and its status as a global centre for higher education and culture, as well as its reputation as a safe haven for capital and talent. [It] also highlights the need for cities like London to address the housing supply and affordability challenges that accompany success.”
As long as those cost of living and environmental issues are addressed, London looks like retaining its place atop the global standings for years to come.