Mori Memorial Foundation’s GPCI-2021 Report: COVID-19 Creates Challenges and Opportunities for Cities
London, New York, Tokyo, Paris and Singapore once again emerged in that order as the world’s most comprehensively attractive cities in the Global Power City Index (GPCI) 2021 report. This report is published by The Mori Memorial Foundation’s Institute for Urban Strategies, a research body established by Mori Building, a leading urban developer in Tokyo. The GPCI-2021 did not show any significant changes in the top cities' rank, but the citywide lockdowns, travel restrictions, behavioral restrictions, and changes in work styles associated with the COVID-19 epidemic since early 2020 affected various indicators. This resulted in a marked impact on the dynamics of target cities.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211123005003/en/
The 48 major cities across the world ranked by Mori Memorial Foundation’s GPCI-2021 Report (Graphic: Business Wire)
Since 2008, the annual GPCI report has ranked 40 or more major cities in terms of their “magnetism” - their overall power to attract creative individuals and enterprises from around the world. Cities are rated on the basis of 70 indicators in six functions: Economy, R&D, Cultural Interaction, Livability, Environment, and Accessibility. In an effort to reflect changes in the conditions affecting global cities, the GPCI continuously fine-tunes its indicators and data-collection methods.
In the GPCI-2021, there are 19 indicators that are assumed to have been affected by COVID-19. (The details will be described later.) Each impact can be divided into four categories: Travel Restrictions, Business Activity, Working Style, and Urban Environment. In terms of Travel Restrictions, many cities experienced a decline in international air travel and passenger traffic, and cities with strong international networks were seriously affected in Accessibility and Cultural Interaction. In addition, economic stagnation had a negative impact on Business activities in many cities. On the other hand, COVID-19 has brought about some positive changes: improvements in working style and in the urban environment. In many of the target cities, the number of working hours decreased and workstyle flexibility appeared to improve. (The questionnaire evaluation of work flexibility improved.)
Highlights (Cities Ranked #1–5)
Although London maintained its #1 position in the overall ranking, the city was significantly affected by COVID-19. Its Accessibility ranking fell from last year, as did its Economy score due to weaker “Total Employment.” The fact that all other European cities increased their Economy scores suggests that the UK’s exit from the EU is beginning to have an impact, allowing other European cities to start catching up to London. The city maintained its unbroken status as 1st in Cultural Interaction since the start of the GPCI, so the question going forward is can London use its strength in this area to grow its overall competitiveness despite the pandemic?
New York (#2)
New York further improved its scores in Economy and R&D, both areas it has led for five consecutive years. However, similarly to London, New York also struggled in Accessibility. Also, in Livability, the city dropped seven places to 40th and there was a notable drop in employment indicators such as “Total Unemployment Rate” and “Workstyle Flexibility,” further exacerbating longstanding weaknesses. In terms of Environment, New York moved up in the rankings due to its strength in “Air Quality” and a higher score in “Satisfaction with Urban Cleanliness.”
Tokyo improved its ranking in Livability from 12th to 9th, making it into the top 10 in four of the five main areas except for Environment. Significant improvement in “Workstyle Flexibility,” up from 41st last year to 2nd this year, greatly boosted Tokyo’s overall score. While Tokyo has continued to score highly in “Number of Retail Shops” (3rd) and “Number of Restaurants” (4th), it received a low score in “ICT Readiness,” an area in which it must improve in order to rise up in the Livability ranking. Tokyo remained in 4th in Economy, but the gaps between Hong Kong (#5) and Zurich (#6) were almost the same as before. To maintain its current standing, Tokyo will have to continue working on its competitiveness.
Paris, one of the fastest rising cities this year, improved in four areas: Economy (13th), R&D (9th), Cultural Interaction (2nd) and Livability (2nd). In Economy, where Paris has been steadily rising since GPCI-2018, “Workplace Enrichment” the city moved up to 5th and in “GDP per Capita” it rose to 3rd. Under Cultural Interaction, its “Tourist Attractions” rating climbed to 2nd. In Livability, it was 1st in “Number of Retail Shops,” and scored highly in many other related indicators. With the Paris Olympic Games targeted to be a sustainable event, Paris hopes to improve in Environment, which dropped this time.
Singapore achieved only half of its usual scores for “Number of Foreign Visitors” in Cultural Interaction and “Number of Air Passengers” in Accessibility, mirroring London in terms of a noticeably negative impact due to COVID-19. But despite stagnated economic activities due to the pandemic, Singapore also benefitted from some positive changes, such as a much better “Air Quality” score in Environment, in fact making the highest improvement among all 48 cities.
Major Indicators Affected by COVID-19
The COVID-19 pandemic brought about positive changes, especially in “Working Style” and “Urban Environment.” The impact is particularly evident in “Variety of Workplace Options,” where more than half of the cities experienced increases in the number of co-working facilities. Most cities also saw decreases in working hours as measured in “Total Working Hours,” as well as higher scores in “Workstyle Flexibility” according to a survey on workstyle flexibility. “Air Quality,” which measures PM2.5 concentrations, improved in approximately 80% of the cities.
Meanwhile, the most significant negative impact was in “Travel Restriction,” where “Number of Foreign Visitors” and “Number of Air Passengers” ratings both plummeted, leading to many cultural-event cancellations and hotel closures. In terms of “Business Activity,” many companies in GPCI cities experienced declines in sales and numbers of start-ups.
Major Cities Affected by COVID-19
The impact of the COVID-19 pandemic on major cities is evidenced by changes in various indicators from the previous year. The cities where COVID-19 had the strongest negative impact on total scores were Singapore, Berlin, Hong Kong, London, New York, Seoul and Paris, while the cities where COVID-19 had a positive impact on total scores were Tokyo, Madrid, Shanghai and Amsterdam.
In Tokyo and Madrid, scores rose due to improvements in work environments, including “Total Working Hours” and “Workstyle Flexibility.” Tokyo's increased score in “Number of Cultural Events” is largely attributed to hosting the Tokyo Olympic Games.
Singapore, Hong Kong and London, which traditionally have higher percentages of international travelers than domestic travelers, were most affected in terms of “Travel Restriction,” especially decreases in “Number of Air Passengers.” New York and Berlin were negatively affected in “Working Style” as the pandemic raised unemployment rates and lowered scores in “Total Unemployment Rate.” Singapore saw the biggest improvement in air quality, which boosted its “Urban Environment” score. London and Paris were negatively affected by declines in their scores for “World's Top 500 Companies in Business Activity.”
Brexit and Changes in European Cities
Since 2016, when the United Kingdom chose to leave the European Union in a referendum, follow-on changes have continued to occur in the European business environment and economy. We revisited the post-referendum results over the last five years to quantify the changes in Economy in London and the next top-five European cities since GPCI-2017. Changes over the five years show that other European cities are catching to London, raising questions about London's ability to continue dominating its European rivals in Economy.
The full press release can be viewed at the following link:
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
Peter Dustan and Hiromi Jimbo, Institute for Urban Strategies, The Mori Memorial Foundation
Phone: +81 (0)3-6406-6800
Fax: +81 (0)3-3578-7051
International Media inquiries:
Reina Matsushita (+81 (0)80 2375 0295), Mayuko Harada (+81 (0)90 9006 4968) or Masashi Nonaka (+81 (0)80 1037 7879)
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nel ASA: Receives Purchase Order for 20MW Alkaline Electrolyser From Ovako26.11.2021 20:45:00 CET | Press release
Nel Hydrogen Electrolyser AS, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 20MW alkaline water electrolyser from Ovako, a leading European manufacturer of engineering steel. The electrolyser will be installed at Ovako’s existing plant in Hofors, Sweden. The fossil-free hydrogen will replace the use of fossil propane gas currently used in the heating furnaces. “We are excited to announce the delivery of electrolyser equipment to Ovako. There is huge potential in reducing CO2-emissions from steel-heating processes through green hydrogen. We look forward to working with Ovako and its partners to further develop fossil-free steel production,” says Jon André Løkke, CEO at Nel. The purchase order has a contract value of approximately EUR 11 million with equipment delivery in late 2022. The electrolyser will produce oxygen and hydrogen for Ovako’s steel-heating process and is a major step towards zero-carbon emission steel production. The conversion to hydrogen wi
'Afghan Girl' Sharbat Gula Safely Evacuated to Italy Via Efforts of Photographer Steve McCurry, Metagood/OnChainMonkey Crypto Community & Future Brilliance Charity26.11.2021 18:16:00 CET | Press release
The legendary 'Afghan Girl' photographer, Steve McCurry, and his sister, Bonnie McCurry, are delighted to announce that, together with the British-American charity, Future Brilliance, and with the support of the Italian government, and NFT for Social Good platform Metagood, they have been able to bring the famous icon for Afghan female refugees, Sharbat Gula, to safety. Background: Six weeks ago, Bonnie McCurry reached out to Future Brilliance founder, impact pioneer, and investor Sophia Swire who has a 30-year track record of empowering women in Afghanistan. She told Sophia that Sharbat Gula wanted to be evacuated with her family. After considering all the various country options, they confirmed with Sharbat that her family hoped to seek asylum in Italy. Sophia and her team activated the Future Brilliance network in Afghanistan and, together with the McCurry family, arranged the necessary paperwork, visas, and logistics. The NFT for good platform Metagood (who worked with McCurry to d
ZOVOO Held Distributor Conference, Creating a Splash of Colour in Atomization Industry26.11.2021 16:45:00 CET | Press release
At 9:30pm (GMT +8) on November 12, ZOVOO, a new industry-leading atomization company, held its 2021 distributor conference online. Distributors from United States, United Kingdom, France and other countries participated in the conference. Meanwhile, ZOVOO also displayed its newly developed disposable products DRAGBAR series for the first time to the public, which attracted widespread attention from distributors worldwide. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211126005521/en/ (Photo: Business Wire) Founded in 2010, ZOVOO has sophisticated research and develop capability, forward-looking product design and perfect supply chain system. ZOVOO founding team has 10 years of proven strength and experience. They have the absolute advantages in terms of heating materials, air channel structure design, etc., and build up the five criteria of good flavor. The birth of each product needs to go through from R&D, design, product
Indeed and Quandoo Announce Partnership to Support the Restaurant Industry Hiring Crisis26.11.2021 15:21:00 CET | Press release
Indeed, the world’s largest jobs site, and Quandoo, one of the fastest growing restaurant reservation platforms worldwide, today announce a partnership to support the restaurant industry's current hiring crisis. This partnership will see restaurants be provided with £50 credit to post a sponsored job advertisement on Indeed’s platform. Sponsored jobs advertisements receive optimal visibility and are more likely to deliver hires* which Indeed and Quandoo hope will connect staff with the restaurants that need them the most. Employers posting a job on Indeed for the first time will have £50 credited to their account to start sponsoring their jobs and reaching more candidates. Employers in the UK can claim the offer here. “We are so excited about this partnership. It’s a topic that is close to home for us at Quandoo as we are hearing how challenging it is to find staff from our partners. So we wanted to do our bit to support the wider industry in any way we can. By partnering with Indeed w
The Leading Event for Payment, Identification and Security Professionals, TRUSTECH will present all the Latest trends in the sector26.11.2021 10:34:00 CET | Press release
For three days, professionals of the cards and digital trust technologies industries will meet at the TRUSTECH exhibition in Paris to discuss the issues and challenges of identity, security and payment, which are the real pillars of the digital transition for institutional or commercial organisations. A panel of international speakers will share their insights across the multiple conference sessions The 6,000 attendees expected from all over the world will also be able to discover concrete solutions to optimise their business and develop their practices. Visitors will have FREE access to participateat Trustech conferences program. AUTHENTICATION AND IDENTIFICATION: A STRATEGIC ISSUE FOR GOVERNMENTS AND ORGANISATIONS These new demands on governments require the use of increasingly complex technologies and processes.Digitization brings into question how the use of physical official documents will be used in the future. It also implies there will be new innovations regarding how physical
Vifor Pharma supports Iron Deficiency Day 2021: Call to action for early iron deficiency diagnosis26.11.2021 07:00:00 CET | Press release
Already for the seventh consecutive year of Iron Deficiency Day, Vifor Pharma is supporting a growing international alliance including the Heart Failure Policy Network, European Kidney Health Alliance, Global Heart Hub and Croí the West of Ireland Cardiac Foundation with the aim to educate people about the importance of iron for the body and what can happen if iron levels are not properly managed. Iron Deficiency Day 2021 encourages people at risk to listen to their body, to take iron seriously and to take control over their health by seeking early diagnosis and medical help from their physician. Iron Deficiency affects about half of the patients with chronic kidney disease2 and chronic heart failure and is associated with reduced quality of life3, an increased risk of hospitalization4 and cardiovascular death5. Despite the serious consequences and high prevalence, of iron deficiency, the condition remains under-recognized6. Diagnosis and treatment of iron deficiency has been further i
LightCON Unveils Global Teaser Site for New Mobile Game 'Rise of Stars (ROS)'26.11.2021 03:00:00 CET | Press release
Rise of Stars (ROS), a new mobile game that is being developed by LightCON, a subsidiary of WEMADE MAX (Co-CEOs: Hyunguk Chang, Gilhyung Lee) (KOSDAQ: 101730), today opened its global teaser site. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211125006252/en/ LightCON unveils global teaser site for new mobile game 'Rise of Stars (ROS).' ROS is a new mobile SF strategy game featuring elaborately designed warships and planets set in the vast universe. Under the slogan, 'The 4x Blockchain Game for the Greatest Conqueror,' the teaser site was designed to help users experience the unique atmosphere of ROS and the game concept with the representative image of the game. ROS will be building a system for players to obtain game tokens through resource mining within planets. It aims for a global launch in the 1st quarter of 2022. (Graphic: Business Wire) Under the slogan, ‘The 4x Blockchain Game for the Greatest Conqueror,’ the tease