TOKYO, Dec 11 (News On Japan) - This year’s Global Power City Index was released, revealing that Tokyo has maintained its position as the third-ranked city worldwide for nine consecutive years. Factors such as the increase in foreign visitors to Japan contributed to narrowing the gap between Tokyo and second-ranked New York.
The Global Power City Index, launched in 2008 by the think tank of real estate giant Mori Building, evaluates 48 major cities around the world annually. The rankings are based on six categories, including economy, accessibility, livability, and cultural appeal, measured across 70 indicators.
London retained the top spot for the 13th consecutive year, followed by New York, Tokyo, Paris, and Singapore.
This year, Tokyo and Paris saw notable gains in the "Cultural Interaction" category, driven by a significant increase in foreign visitors, which resulted in a substantial rise in their overall scores.
However, Tokyo’s score in the "Economy" category dropped to 10th place, due in part to the yen’s depreciation, which negatively impacted the evaluation of GDP, as well as low wage levels.
Looking ahead, experts predict that the yen’s continued depreciation could further reduce GDP evaluations in future rankings. To enhance its standing in economic evaluations, Tokyo must address challenges such as improving business conditions and indicators related to highly skilled talent.
Source: ANN
