Schroders have released their annual ‘Global Cities Index’, which ranks cities around the world to provide a view of where some of the biggest global real estate opportunities lie. The index is compiled using a range of factors including disposable income, working age population and projected growth of the economy. According to Schroders, the ideal global city will have:
- Top universities
- High projected growth
- A growing population
- Excellent infrastructure
- Skilled workers with high disposable incomes
This year’s index has seen Chinese megacities increasing their dominance on the list, taking out all four of the top spots. Beijing, home to China’s Silicon Valley and 52 headquarters of Fortune 500 companies, has topped the list at number one. Shanghai, the world’s most populous city and a major financial hub, followed in second position. Shenzhen, a quickly growing city with a population of over 10 million, was listed third before Tianjin.
While China dominated, North America is also featured heavily in the index taking 17 of the top 30 places. New York is the highest-ranking US city in fifth place, with Dallas coming in shortly after at number seven. Miami, home to the Investorist US office, featured at number 17 and has been labelled an ‘Alpha World City’, meaning it plays an important role in international trade.
We were also pleased to see the hometown of Investorist headquarters, Melbourne, ranked at number 15.