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Singapore tops in Asia, third globally in 'Business of Cities' ranking
SINGAPORE is Asia's top-ranked city across a broad range of indicators, beating Tokyo to take the third place worldwide, according to a report by global real estate firm JLL and The Business of Cities, a London-based intelligence and strategy group.
The report analysed some 200 globally recognised city performance studies. According to the results, Singapore pipped Tokyo across six of the strongest indices, making it Asia's frontrunner in higher education, mobility, science, broadband and technology.
Worldwide, Singapore was in the third place after New York and London. Among the Asian cities, Hong Kong was in the second spot and Tokyo in third.
Singapore, which was the No 1 city globally for business friendliness, is also rising in popularity among tourists and expatriates for its growing buzz.
"The result of the survey confirms that Singapore has all the infrastructure needed to be an Asia Pacific headquarters for companies," said Chris Fossick, JLL's managing director (Singapore and Southeast Asia). "The fact that it has overtaken Tokyo is an indication of the openness of the Singapore economy, which has been able to feed on global best practices, implement them efficiently and integrate them effectively into Singapore."
Of the world's top 15 cities, five are in Asia Pacific, seven in Europe and three in North America. Cities which have turned in improved performances since 2010 include Mumbai and Seoul.
The report looks at data on indicators such as business and finance, economic growth, quality of life, and a city's brand, reputation and influence.
"The ability of cities to attract investment, manage their growth, and deliver quality of life will define the character and ultimately the success of what the OECD (Organisation for Economic Co-operation and Development) calls the 'metropolitan century'," said Greg Clark, chairman of The Business of Cities and JLL's Cities Research Centre.