Singapore Leads Asia Pacific in 'Business of Cities' Ranking
-- The city-state has overtaken Tokyo to take third place worldwide
SINGAPORE, May 20, 2015 /PRNewswire/ -- Singapore has become Asia's top ranked city across a broad range of indicators, according to a report published by global real estate firm JLL in partnership with The Business of Cities Group.
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The report, which analyses over 200 globally recognised city performance studies, reveals that Singapore has overtaken Tokyo across six of the most robust indices to become Asia's leader in higher education, mobility, science, broadband and technology.
The Business of Cities study ranks Singapore in third place worldwide, behind New York and London, and also names it the 'number one' city globally for business friendliness. The report also revealed that Singapore is beginning to shake off its reputation for a lack of vibrancy among expatriates and tourists.
"The result of the survey confirms that Singapore has all the infrastructure needed to be an Asia Pacific headquarters for companies. The fact that it has overtaken Tokyo is an indication of the openness of the Singapore economy, which has been able to feed on global best practices, implement them efficiently and integrate them effectively into Singapore," said Chris Fossick, JLL's managing director for Singapore and Southeast Asia.
Among the world's top 15 cities, five are in Asia Pacific, seven are in Europe and three are in North America. While the top spots on the global indices have been broadly stable, certain lower ranked cities have seen an upswing in their fortunes: Mumbai and Seoul are Asia's most improved cities since 2010.
The report, the fourth developed by the Business of Cities, assembles the widest comparative studies on city performance to date, analysing data on indicators such as business and finance, economic growth, quality of life, and a city's brand, reputation and influence.
"It has never been more important to understand city performance. The ability of cities to attract investment, manage their growth, and deliver quality of life will define the character and ultimately the success of what the OECD calls the 'metropolitan century'," said Greg Clark, Chairman of The Business of Cities and JLL's Cities Research Center.
The Metropolitan Century, a report published by the OECD in February 2015, provides an outline of recent and likely future urbanisation trends.
"In aggregate, benchmarks and indices can offer real insight into the pathways and strategic opportunities for cities, and for those living and working in them," said Clark.
Top 5 Asia Pacific cities across six leading all-round indices
- Singapore
- Hong Kong
- Tokyo
- Seoul
- Sydney
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About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle incorporated. For further information, visit www.jll.com.
JLL has over 50 years of experience in Asia Pacific, with over 30,000 employees operating in 80 offices in 16 countries across the region. The firm was named 'Best Property Consultancy' in seven Asia Pacific countries at the International Property Awards Asia Pacific 2014, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. www.jll.com/asiapacific
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