New York has topped a list of the world’s most important business centres.
The AT Kearney Global Cities Index ranks cities according to their global influence.
London ranked second and Paris was third, while Tokyo, Hong Kong, Los Angeles, Chicago, Seoul, Brussels and Washington DC rounded out the top 10.
Sydney is in 12th place and Melbourne is 32nd.
The survey examined 66 of the world’s busiest commercial centres, judging each on the scope of several weighted categories. Business activity had a 30% weighting, with quality of human capital (30%), access to information exchange (15%), cultural amenities (15%) and political engagement (10%) also on the list.
New York mayor Michael Bloomberg said for cities to have sustained success, they must compete for the grand prize: intellectual capital and talent.
“Talent attracts capital far more effectively and consistently than capital attracts talent,” Bloomberg said.
He cited recent college graduates’ migration to the New York borough of Brooklyn, where inexpensive real estate has fostered creativity in music, art, design, food, energy-conserving lifestyles and building construction. “Being cool counts,” said Bloomberg.