London calling: English capital named world’s best city brand

London has been named as the world’s best city brand for a second consecutive year by Brand Finance’s Global City Index. The independent brand valuation consultancy cited ‘Familiarity’ and ‘Reputation’ as key metrics London excels in.

The Brand Finance Global City Index surveys the views of over 15,000 members of the public across 20 countries to determine perceptions of the world’s top 100 city brands. Cities with higher rankings indicate they are better places to live, work, visit and invest in.

The inaugural 2023 Index also placed London first, with the English capital scoring very high on metrics including ‘Familiarity’, ‘Culture & Heritage’ and ‘Education & Science.’ New York and Paris completed the top three, which has also remained the same in 2024.

While retaining first place, this year’s Index saw many of London’s scores drop across all three KPIs (‘Familiarity,’ ‘Reputation’ and ‘Consideration’), while improvements were only made in ‘Business & Investment’ and ‘Governance.’

David Haigh, chairman and CEO at Brand Finance, says, “London continues to shine as the world’s best city brand thanks to its strong international presence, rich cultural identity and renowned educational institutions.

“However, challenges like affordability and perceived bureaucracy, including post-Brexit visa complexities, impact its image. While London ranks high for global significance and strong economy, its scores in liveability suggest room for improvement in how the city is perceived by international audiences. Strengthening these perceptions will be key for London to maintain its global appeal."

Other British cities also struggled compared to last year, with Manchester (-2), Liverpool (-5) and Edinburgh (-5) all falling in rank.

There were interesting global developments including the rise of Dubai (+4) to 5th, meaning it now leads the rest of the world in future growth potential and investment appeal. Tokyo (+3) reached 4th due to its leader status in science and technology. With a 9-rank increase, the two biggest risers in this year’s Global City Index were Munich (20th) and Lisbon (34th). Hamburg (42nd), meanwhile, fell as many as ten places.

Haigh adds, “The 2024 study reveals that familiarity can be a double-edged sword. For example, while London remains the world’s best city brand overall, its perceptions across certain metrics have weakened this year. It is no longer considered the world’s top city to visit – overtaken by Rome, or to study in – where Boston is now top of class.

“These findings provide valuable insights into the changing perceptions and priorities of residents and visitors, which can help guide decision makers in cities across the world in implementing effective strategies to drive growth.”