PwC's Cities of Opportunity 7 provides a balanced benchmarking of the social and economic health of 30 of the world's leading business cities. It measures their performance against 10 indicators including transportation and infrastructure, ease of doing business, demographics and liveability, technology readiness and cost.
The report demonstrates that cities succeed not only when they perform well economically, but when they succeed in providing a range of social features, including good quality of life, senior wellbeing, housing, and disaster preparedness - each of which demonstrates a strong relationship with top cities in the study.
As the report's methodology and data is based mostly on the two years before the UK decision to exit the EU, the Brexit vote does not impact London's position in the Index this year. London claims pole position for the second time in a row in a comprehensive benchmarking study of 30 leading business centres globally, boding well for its ability to withstand post-Brexit competition on a number of fronts.
Singapore comes second in PwC's Cities of Opportunity Index; Toronto third, with Paris and Amsterdam completing the top five. Overall, European cities take four of the top ten places.
Three Chinese cities have made it into this year's Cities of Opportunity - Hong Kong at 9th place, Beijing at 19th and Shanghai at 21st.
Beijing ranked third for economic clout and city gateway. Even though Shanghai ranked 7th for city gateway and economic clout, its overall ranking was affected by its low ranking in ease of doing business and costs. Hong Kong's outstanding performance in ease of doing business, city gateway and technology readiness contributed to its ranking in the top 10.
Since 2014, PwC China and the China Development Research Foundation have jointly released three editions of the Chinese Cities of Opportunity study report. Applying similar methodology of Cities of Opportunity, the study provides in-depth observations on 24 Chinese cities (excluding Beijing, Shanghai and Hong Kong) using ten indicators and 55 variables.
The findings help add global perspectives and valuable reference on China's urbanisation. With these continued efforts, PwC is dedicated to making a modest contribution to the process of economic and social development in China and the world.