China dominates top spots in Schroders Global Cities 30 index
China has claimed three of the top five spots, while London has slipped from its intended fourth spot to 10th following the U.K. vote to leave the European Union, in the inaugural Schroders Global Cities 30 index.
Shanghai has been named the top global city in the index compiled by real estate fund manager Schroders out of an analysis of 161 cities, followed by New York City in second place and the northeastern Chinese city of Tianjin. Beijing and Dallas rounded out the top five. The index was compiled based on factors such as each city’s projected economic growth, disposable incomes among its citizens and the working age of its population.
London had been ranked fourth in the index but fell to 10th after the Brexit verdict of the E.U. referendum. U.S. cities were well represented in the top 10: New York City (second), Dallas (fifth), Los Angeles (seventh), Houston (eighth), and Washington, D.C. (ninth).
The top ranked cities share common factor