London’s position as a leading global city has been reaffirmed in Kearney’s 2024 Global Cities Report. For the sixth year in a row, the UK capital ranks second in the Global Cities Index. Despite the ongoing political and economic uncertainty, it has demonstrated “consistent strength across key dimensions, including business activity, human capital and cultural experience.”

Competition
London maintained its second-place ranking overall, continuing to rival New York. However, its business activity dropped four places to 7th, reflecting increased competition from cities like Paris, Tokyo and Beijing. The city’s capital markets remain strong, with London climbing from 11th to 8th in this sector, overtaking major hubs like Shanghai.

Student population
In human capital, London retained its 2nd position globally, driven by a strong presence of international students and leading universities, including top-ranked medical institutions. London’s international student population has now surpassed Melbourne, taking the top spot. The city continues to attract top-tier talent, staying ahead of Melbourne, Tokyo and Chicago.

Culture
London holds the top spot globally in cultural experience, ahead of Paris and New York. With its renowned museums, international sporting events and diverse culinary scene, the city remains a top destination for international travellers, strengthening its position as a global cultural hub.

However, London’s information exchange performance dropped, retaining its 4th rank but suffering from poor internet speed, where it ranks 97th globally. This has become a significant drawback compared to cities like Singapore, Berlin and Toronto which are excelling in digital infrastructure and connectivity.

The 2024 Global Cities Index assesses 156 cities worldwide based on their global connectivity, influence and potential for future growth. Cities are evaluated across five key dimensions: business activity; human capital; information exchange; cultural experience and political engagement.

New metrics introduced this year include digital readiness and human mobility, reflecting shifts in the global operating environment. Cities that adapted well to changes in global trade, geopolitical instability and digital transformation saw improved scores.

www.kearney.com