Seoul Metropolitan Government Ranks World’s 6th Most Competitive for Second Consecutive Year
Seoul Metropolitan Government is the world’s no. 6 in global urban competitiveness for the second consecutive year, according to the Global Power City Index (GPCI) announced every October by the Institute for Urban Strategies at the Mori Memorial Foundation in Tokyo. The institute conducted a comprehensive study of global cities in 2013.
As an index of global urban competitiveness, GPCI is derived through comprehensive analysis and evaluation based on the 26 items of evaluation and 70 indices developed by said institute in six sectors (economy, R&D, cultural exchanges, abode, environment, and transportation accessibility.
Since the first announcement of GPCI, Seoul Metropolitan Government has seen its ranking improve (13th in 2008, 12th in 2009, 8th in 2010, 7th in 2011, 6th in 2012, and 6th in 2013).
< Seoul’s ranking (2008 ~ 2013) > in Mori Memorial Foundation’s GPCI
The status of the five other cities whose GPCI ranking was higher than Seoul (i.e., London, New York, Paris, Tokyo, and Singapore) remains unchanged from last year.
Note, however, that there were slight changes in the scores earned by said cities. The scores of New York, Paris, Tokyo, and Singapore dropped. In contrast, Seoul scored 23 points higher compared to last year to record the second highest margin of rise among the top 10 cities after Frankfurt.
In particular, the Mori Memorial Foundation noted how the gap in points earned by Seoul and Singapore was narrowed from 38 in 2012 to 9 in 2013. At this rate, Seoul is expected to be able to rank among the top 5 sooner or later.
According to the Mori Foundation, the rise in Seoul’s urban competitiveness was attributable to the rise in five of the six sectors of evaluation, most noticeably in economy. Sectors such as R&D and transportation accessibility have pulled up the other sectors. In the 2013 index, economy newly emerged as Seoul’s strong sector. Thus, Seoul ranked among the top 10 in R&D, transportation accessibility, and economy.
The GPCI YEARBOOK 2013 containing the details of the analysis will be published by the end of the year.