In this article, we will talk about the 25 most influential cities in the world. You can also take a look at the Top 20 Financial Cities in the World.
Cities play a very important role in the world economy, serving as hubs for economic development, knowledge creation, and governance. According to Oxford Economics, the top 1,000 cities worldwide contributed to 60% of global GDP and housed over 30% of the global population as of 2023.
The significance of cities is going to increase even further in the coming years. In fact, before the COVID-19 pandemic, 70 cities had surpassed their countries in terms of GDP or employment growth over a ten-year period. It is also projected that urban populations will expand significantly, more than doubling by 2050. By then, nearly 70% of the world’s population is expected to reside in urban areas.
However, the trend in urbanization differs among countries. The UN predicts that 93% of the upcoming increase in urban population is projected to take place in developing nations. The majority of this growth will be concentrated in Asia, Africa, and Latin America, contributing to 54%, 32.5%, and 6.8% of the overall urban population expansion, respectively.
Developing countries are not only expected to experience population growth but are also expected to play a more significant role in the global economy. In fact, a report by Forbes shows that BRICS currently accounts for more than 32% of the global GDP, which is slightly higher than the G7’s 30%.
With the inclusion of new member countries, this bloc is projected to account for 36% of the world’s GDP, while also accommodating half of the global population. Hence, lists of the world’s leading cities increasingly feature entries from developing countries.
A strong business sector and the presence of notable companies also play an important role in increasing the influence of any city. For example, Xiaomi Corporation (HKSE:1810.HK), based in Beijing and traded on the Hong Kong Stock Exchange, is listed among the Time100 Most Influential Companies of 2024.
Xiaomi Corporation (HKSE:1810.HK) introduced its SU7 electric sedan in March, which was the first car produced by a telecommunications company. The Chinese tech giant, known for its wide range of products including computers, wearable devices, robot vacuums, scooters, and phones does not think of this venture as unconventional. Rather, Xiaomi Corporation (HKSE:1810.HK) considers the SU7 to be an enhancement of customers’ electronic lifestyles. This innovative vehicle can connect to smart home devices, enabling drivers to manage household lighting and appliances from behind the wheel.
Initially targeting the Chinese market, Xiaomi Corporation (HKSE:1810.HK) set an affordable price point for the base model at around $30,000 to outdo the Model 3’s pricing strategy. Surpassing expectations, the company received over 70,000 orders for the SU7 within less than one month of its release.
Let’s take a look at how the most influential cities in the world are impacting the global economy.
Our Methodology
To shortlist the 25 most influential cities in the world, we referred to various credible sources such as Forbes, the World Economic Forum, Oxford Economics, and Business Insider. For the purpose of ranking the cities, we looked at the Global Power City Index (GPCI) by Mori Memorial Foundation’s Institute of Urban Development. The index assesses the influence of cities worldwide through 6 metrics: economic strength, innovation capacity, cultural vibrancy, quality of life, environmental sustainability, and connectivity and accessibility. These metrics are designed to evaluate the cities’ power to attract funds, people, and enterprises. The most influential cities have been ranked in ascending order of their overall scores.
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25 Most Influential Cities in the World
25. Chicago, USA
Score: 1042.9
Chicago is the third largest metro economy in North America. The city has a skilled workforce supported by universities like the University of Chicago, Northwestern, and Loyola. The city is known for its iconic architecture, such as the Sears Tower, and cultural attractions like museums.
24. Brussels, Belgium
Score: 1044.2
Brussels, known as the “heart of Europe,” has the highest GDP per capita and the largest population in Belgium. As the administrative, commercial, and financial center, it houses most of Belgium’s important services and institutions. Around 62% of its residents are from other countries, adding to the city’s diversity. Brussels is also a global hub, hosting many international organizations like NATO, the European Commission, and the European Parliament.
23. Toronto, Canada
Score: 1049.3
Toronto, the capital of Ontario, lies on the northwestern shore of Lake Ontario. This strategic location on the US border provides access to both the Atlantic shipping lanes via the St. Lawrence Seaway and the industrial hubs of the US through the Great Lakes. This advantage has made Toronto a prominent international trading center. The iconic CN Tower is a symbol of Toronto’s innovation. The city is a hub for film, television, and digital media, injecting around CAD $2.5 billion into the country’s economy in 2021.
22. Barcelona, Spain
Score: 1065.2
Barcelona is the capital and largest city of Catalonia, and the second-most populous city in Spain. This lively city is a cultural, economic, and financial center in southwestern Europe and is Spain’s main biotech hub.
21. Los Angeles, USA
Score: 1067.6
Los Angeles is California’s most populous city with nearly 3.9 million residents and is known as the global entertainment capital. The city draws visitors with numerous attractions, from Hollywood studios to Venice Beach. LA is home to Hollywood, the world’s largest film industry by revenue, and one of America’s busiest container ports, highlighting its global importance.
20. Frankfurt, Germany
Score: 1071.7
Located on the Main River, Frankfurt is Germany’s financial capital. It is home to the European Central Bank, Deutsche Bundesbank, Frankfurt Stock Exchange, and many commercial banks, highlighting its financial importance.
19. Zurich, Switzerland
Score: 1086.2
Zurich is Switzerland’s economic leader and a global financial powerhouse, often called the “Banking City of the World.” The city excels in ICT, life sciences, and cleantech sectors. Zurich is a model smart city, focusing on circular waste management, energy efficiency, digital security, and reducing greenhouse gases.
18. Hong Kong, China
Score: 1088.5
Hong Kong, with 7.4 million residents, is a global hub known as the “World City of Asia.” It combines financial strength, trade, and tourism. The city has world-class transportation and communication networks. Modern skyscrapers and centuries-old temples coexist in the Central district.
17. Beijing, China
Score: 1091.8
Beijing, also known as Peking, is China’s capital and a leading global city. This bustling metropolis has a population exceeding 22 million. Nicknamed a “modern” imperial capital, Beijing has served as the center of Chinese power for nearly a millennium. This rich heritage can be seen in its architectural wonders, including the Great Wall of China, the Temple of Heaven, the Forbidden City, and the Summer Palace.
16. Stockholm, Sweden
Score: 1115.3
Stockholm is the capital and most populous city in Sweden. Known as the “Venice of the North” for its beautiful architecture, waterways, and parks, Stockholm is also a leader in clean air and sustainability, with no heavy industry. This commitment to environmental responsibility is further emphasized in Stockholm’s smart city initiatives.
15. Shanghai, China
Score: 1117.8
Shanghai is China’s largest city and a key player in the global financial scene. Located on the central coast, it has a rich history as one of the first Chinese ports open to Western trade. Since the mid-20th century, Shanghai has become an industrial hub.
14. Madrid, Spain
Score: 1131.5
Madrid holds the honor of being the capital and most populous city of Spain, brimming with nearly 3.4 million residents. The city has long served as the nation’s political and economic center. It houses the Spanish government and attracts many major companies, banks, and institutions. Madrid even holds the top spot in Spain for creating new businesses.
13. Vienna, Austria
Score: 1133.2
Vienna, Austria’s capital, sits on the Danube River in the eastern part of the country. It houses nearly 2.9 million people. The city is known for its quality of life and as the “City of Music,” home to famous composers like Beethoven, Brahms, and Mozart. Vienna also hosts international organizations like the United Nations and many global businesses.
12. Sydney, Australia
Score: 1133.4
Sydney, the capital of New South Wales and one of Australia’s biggest cities, attracts visitors with its iconic landmarks. The city’s most recognizable symbol, the Sydney Opera House, graces the harbor with its sail-like design.
11. Copenhagen, Denmark
Score: 1138.9
Copenhagen is Denmark’s capital and most populous city. This cultural city is full of museums and grand palaces like Christiansborg and Amalienborg, showcasing Denmark’s royal heritage. Copenhagen is also a leader in sustainability with an ambitious smart city strategy. It is among the top 25 most influential cities in the world.
10. Berlin, Germany
Score: 1151.7
Berlin, Germany’s capital and largest city, has renowned museums like the Dahlem Museum and the Berlin Cultural Forum, which houses the New National Gallery. Berlin is one of the few cities with three UNESCO World Heritage Sites, highlighting its cultural importance. Nicknamed the “Grey City,” Berlin also bears the architectural reminders of World War II. The post-war reconstruction prioritized functionality over aesthetics, resulting in a landscape dominated by practical concrete buildings
9. Melbourne, Australia
Score: 1155.4
Melbourne, Australia’s cultural capital, offers a unique experience for visitors and residents. This city has impressive architecture and a rich history in Australian art forms like impressionism and cinema. Melbourne has also been named a UNESCO City of Literature.
8. Dubai, UAE
Score: 1162.7
Dubai, the UAE’s most populous city, attracts a lot of investment and talent. This global transport hub is also home to the world’s tallest building, the Burj Khalifa. Dubai thrives on a diverse economy fueled by real estate, technology, finance, healthcare, and tourism. The city is among the top 10 most influential cities in the world.
7. Seoul, South Korea
Score: 1202.1
Seoul, South Korea’s capital and largest city, has over 9.6 million residents and is a global hub recognized for its success in various sectors. Known as the World Design Capital, it is a center for music, entertainment, and culture. Seoul has a highly educated workforce and advanced digital infrastructure. As an economic powerhouse, it frequently hosts major international conferences, reinforcing its global position.
6. Amsterdam, Netherlands
Score: 1246.3
Amsterdam, the capital of the Netherlands, is known for its museums and historic canals. Artists like Rembrandt and Vermeer once lived here. Besides its historical significance, Amsterdam is a thriving commercial and financial center, making it one of the most influential cities in the world.
5. Singapore
Score: 1264.7
Singapore, a city-state in Southeast Asia, is considered one of Asia’s most influential cities. Famous for its skyline, Marina Bay Sands, and Gardens by the Bay, Singapore combines technology, innovation, and natural beauty. The name Singapore comes from the Sanskrit words “Singa” (lion) and “Pura” (city), meaning “Lion City.”