Tel Aviv has ranked 34th in the annual Knight Frank global cities index, which was released on Wednesday, putting the Israeli city one rung lower than it ranked last year and three rungs below Cairo.
The Global Cities Survey, which was created by multinational real estate and property services firm Knight Frank and Citi Private Bank in 2008 to monitor city-level power shifts, measures 40 major cities in terms of their provision of investment opportunities and their influence on global business leaders and the political elite.
New York, London and Paris maintained their positions as the top three-ranked cities, although the survey forecast a significant shift in the east-west power balance in 10 years time, with Shanghai, Bejing, Hong Kong and Mumbai all expected to enter the top seven cities by 2021, while the influence of Paris, Brussels, Los Angeles and other Western cities wanes.
Of the four categories by which the survey judges cities, Tel Aviv’s best performance was in quality of life, where it finished in 17th place, just behind Chicago and Seoul, but ahead of Singapore, Milan and Miami. The top three cities in that category were Paris, Berlin and Toronto. In the other categories, Tel Aviv finished in last place for economic activity, 26th place for political power, and a lowly 37th for knowledge and influence, ahead of only Rio de Janeiro, Bogota and Johannesburg.
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