![]() These industries are typically anchored by globally engaged firms, which have valuable spillovers for local economies. ![]() ![]() Tradable Clusters: Tradable industries are a critical driver of prosperity and competitiveness.In the 48 cities assessed this year, the study saw accessibility taking a huge hit compared to the year before the global pandemic began, the frequency of international flights between these cities decreased nearly 50%.īut the Institute for Urban Strategies reported some positive changes in the 48 cities despite fewer people moving between them-more than half of them saw an increase in co-working spaces and a decline in working hours.To develop the typology, we utilized a series of statistical techniques to group metropolitan economies with their closest peers based on a set of 35 stock variables that measure metropolitan-level economic characteristics, industrial structure, and key competitiveness factors: The Global Power City Index evaluates and ranks global cities by their “magnetism” using 70 indicators across six categories: economy, research and development, cultural interaction, livability, environment and accessibility. Tokyo improved its overall scores, in large part due to the 2020 Olympics and Paralympics and improvements in work flexibility as Japan adapts to work from home. “The fact that all other European cities increased their economy scores suggests that the U.K.’s exit from the EU is beginning to have an impact, allowing other European cities to start catching up to London,” the institute said. London continues to be the most attractive city, according to the Global Power City Index, but its overall score dipped, with the report’s authors attributing the decline to both the pandemic and Brexit, which hampered its economy and global accessibility. ![]()
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