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Forbes magazine has declared London as the most influential city of the world in 2014, over a century after the decline of the British Empire. The analysis showing New York, Paris and Singapore coming in after the British capital in the list demonstrates a shift of power to “savvy” cities, rather than the fastest growing or largest ones. While large metropolitan cities used to be the most influential ones some time ago, the new list shows that the trend has changed and size doesn’t matter so much anymore.
Fifty eight metropolitan cities were analysed by Forbes on the basis of foreign investment attracted by them, the concentration of corporate headquarters, businesses, ease of air travel, financial services, technology, media power and racial variety. Although Delhi and Mumbai made an appearance, they only figured in the 30s along with Johannesburg in South Africa, and Sao Paulo in Brazil.
Experts believe that poor infrastructure, corruption and a problematic judicial system will mean that many cities from the developing world will fail to appear in the top 10 list for at least a decade.
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