Singapore—According to the latest Schroders’ Global Cities Index, released late last month, Singapore is the eleventh best city, rising two places from last year’s rank.
The index from Schroders aims to “quantify what makes a city successful,” says Mr Hugo Machin, a fund manager and the Co-Head of Global Real Estate Securities for Schroders, a British multinational asset management company. He and Mr Tom Walker lead the approach to global cities at Schroders.
This year, the index has introduced a transport score into the ranking, with a focus on mass transit systems. As a result, car-reliant Los Angeles fell from first place last year to 14th position while Singapore moved up.
London took the top spot, up from second last year.
Cities in the Schroders’ Global Cities Index are scored on four metrics: economic, environmental, innovation and transport. The ranking identifies cities which have economic dynamism, excellent universities, forward-thinking environmental policies and excellent transport infrastructure.
The top 10 cities, according to Shroders, are
- San Francisco
- New York
- Hong Kong
- San Jose
Hong Kong is the only Asian city on the top 10 list, but it fell from third place last year to sixth this year.
Singapore was praised for its transportation system.
“Singapore is small by landmass and very efficient, hence the good transport score. Also, (regarding) traffic data, it scores well given the management of cars on the road, unlike Los Angeles.
The airport data… shows how well-connected Singapore is compared to top international rivals in the region,” said Mr Machin.
London and Paris were the only European cities on the top 10 list, North America had more.
“We weren’t surprised to see London regain first place in the Index. Whilst there has been uncertainty generated by Brexit and the resulting political environment, its underlying fundamentals remain attractive to investors.
With an economy that continues to attract multi-national companies and highly skilled talent, a high quantity of green spaces, access to clean and reliable water, as well as reliable energy and dependable public transport, London has retained its popularity with investors,” said Mr Machin.
Singapore got low marks in the environment category, placing 23rd out of the 30 cities on the index.
The country also scored poorly when it comes to well-being factors.
It was Singapore’s transportation systems that pushed it up the rankings, with its seaport graded by Schroders as the best in the world.
As for its roads, Singapore ranked ninth in the world; for trains, 14th; for buses 20th; and for the airport, 24th.
Regarding the economy, Singapore is ranked 18th in the world, and in terms of innovation, it took eighth place among the top 30 global cities.
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