SOUTHEAST Asia’s financial capital Singapore has been awarded yet another accolade, deemed an “elite city” of the likes of New York and London according to a new index of metropolitan centres around the world.
The 2018 Global Cities Index from management consulting firm A.T. Kearney named Singapore in the top 25 cities of 135 that it assessed for economic performance, liveability and quality of life along with regional economic powerhouses Hong Kong and Tokyo.
“Singapore routinely attract[s] the best companies, the top talent, and the most investment dollars,” said the report.
“In an era of increased localisation, challenges to trade, and a rise in populist sentiments around the world, the results of this report go beyond simply ranking cities,” wrote the report’s authors.
“This analysis reveals which global cities are primed for urban transformation and growth—and those that are falling behind.”
New York retained its first place as the world’s “most influential city”, followed by London, Paris, Tokyo and Hong Kong. Singapore came in seventh place just behind Los Angeles and ahead of Chicago.
“The Singapore government has been actively investing to transform the island-state into a ‘Smart City’ equipped with cutting-edge technology and a nationwide digital platform,” said Chua Soon Ghee, Partner and Head of Southeast Asia at A.T. Kearney in a statement.
“Various investments from the private sector have also strengthened Singapore’s journey towards a Smart Nation.” Singapore led the Online Presence category, reflecting the number of public-private sector partnerships, research and development, and heavy investment into innovation and security.
“The city’s commitment to continuous innovation and digitalisation further ensures its spot as a leading global technology hub,” Chua added. Singapore was an appealing location for a regional headquarters due to its preparedness for physical and cyber security, he said.
China’s capital Beijing came in at number 9 ahead of Brussels and Washington, D.C., while Seoul, Sydney, Melbourne and Shanghai also made the top 25.