London clings on to crown as top global city, according to Schroders index
London remains top of a closely-watched global cities index compiled by asset manager Schroders.
The capital ranked top in the index for innovation, reflecting its status as the home of more ‘unicorn’ companies than much of the rest of Europe combined and the fact it is home to some of the world’s leading universities.
London also ranked well on mass transit, with the long-delayed arrival of the Elizabeth Line helping to bolster the city’s competitive advantage over its rivals.
The ranking saw Boston, San Francisco and New York on London’s tail, with Melbourne rounding out the top five.
Paris was the highest-ranking European city other than London, at number seven, with Stockholm in sixteeneth spot.
“London continues to score well on all four metrics of the Global Cities Index and the importance of transport and universities cannot be over-stated,” said Hugo Machin, Portfolio Manager for Schroders Global Cities.
“Fears of a mass exodus away from cities in the wake of the Covid-19 pandemic, driven by the move to remote working, appear to have been exaggerated,” he added.