All but Tokyo slipped down the rankings based on population. All benefit from being very successful tourist cities. They also have among the largest GDPs and high (but not among the highest) GDPs per capita. These lists show the power of the ‘old guard’: New York, Tokyo, London and Paris are top or close to the top. Table 1 below presents lists of the top 20 cities, ranked under these categories.īy indicator: which ‘world cities’ take the top 20 spots? A composite indicator including scores on business activity, human capital, information exchange, cultural experience and political engagement.Scores on global financial services, and.Their number of TNC headquarters and their size and economic performance.Their concentration of advanced producer services (accountancy, advertising, banking/finance, law).Here, we look at four of these lists – cities ranked by: Some lists relate more directly to ‘global’ or ‘world’ city economies. Cities are also ranked using composite indicators measuring, for instance, business environment or quality of life (or subsets of this). There are many lists that rank cities by indicators – such as gross domestic product (GDP), GDP per capita or housing affordability. But being far from major trunk transport, communications and other infrastructure prevent them from genuinely competing. Some may be able to attract investment in production, especially where wages are very low. Most cities are not able to engage seriously in global or regional contests for corporate headquarters. Global cities play a key role in the world economy – but the playing field is increasingly unequal. When global brands cut their businesses, it is the million or so workers in Dhaka who are laid off. Dhaka is a clothes manufacturing hub for global brands yet TNCs do not have headquarters there. They are mostly among the world’s wealthy cities if not, they are at least among the wealthiest in their nation.īut the cities from where TNCs produce their goods are often not wealthy. What are termed ‘world’ cities or ‘global’ cities command and control the world economy, and are centres for transnational corporations (TNCs).
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