New York City once again has topped the Savills Resilient Cities Index, demonstrating resilience — beyond size — is about having a talented workforce to help the city adapt to an evolving business landscape. While New York is one of seven US cities in the top 20, US ranking dominance overall is down compared with 2021, when the country held 12 of the top spots.

Since then, as many US real estate markets have experienced tougher conditions, some Asian and European cities have risen.

Overall, a strong correlation remains between economic fundamentals and resilience. In turn, real estate investors continue to focus on bigger cities — particularly those with a deep and broad economic base. Large cities, especially those in the top five, are regaining their allure as places to make connections — whether through in-person meetings, working collaboration, crosspollinating industries or a wealth of entertainment.

Cities are likely to see an inflection in 2024 as