EDINBURGH is among the highest rated cities in a new global competitive city tracker thanks to its high quality of life, burgeoning technology and financial sectors, and strong governance.
The City Competitiveness Redefined Tracker from, sustainable development consultancy Arup, shows that cities must think beyond traditional indicators like economic performance and transport infrastructure to continue to attract investment. Authors of the report warn that cities need to focus far more on issues like climate action and demographic shifts to be successful in the future.
Edinburgh received the highest overall ‘best in class’ rating because of its digital infrastructure, high quality of life, range of leisure activities, and extensive green making the city highly desirable for living and working.
The tracker to show which urban centres are best placed for long term success. It measures 63 cities against 37 future success indicators – with around a quarter focused on climate action. These indicators span four key assessment areas for city competitiveness: investor attractiveness, assets and infrastructure, liveability and loveability, and urban management and governance.
UK cities Edinburgh and London are among the cities with the highest ‘best in class’ rating. With Paris, Vancouver, and Singapore also judged as among the best placed to be leaders of the future. Other cities around the world were rated as ‘contender’, ‘emerging’, or ‘aspiring’ based on preparedness for future success.
However, the tracker found Edinburgh’s infrastructure, particularly for transportation and housing, struggles with accommodating the rapid growth in both population and tourism. Authors warn it needs to work to reduce pressure in the transport, logistics and warehousing sectors to remain competitive in the future.
Vicky Evans, Cities, Planning and Design Leader UK, India, Middle East and Africa (UKIMEA), Arup said: “Edinburgh is one of the most attractive cities in the world to live and work. But to remain among the best performers in the world in the future it needs to make sure its infrastructure can cope with that high demand for new residents and tourism. Building resilience to every aspect of its infrastructure – from the changing climate to energy and water security – will be vital for making that happen.”
The analysis up-ends some traditional assumptions about globally competitive cities and reveals how tomorrow’s leaders could be quite different from successful cities today. Lima is a leader for investor attractiveness, showing potential to challenge traditional powerhouse cities, with Peru rising as a regional leader in green finance. Cities like Seoul, Melbourne, and Buenos Aires are championing climate action and resilience, and are also front runners for investor attractiveness.
The tracker demonstrates how cities are already under siege from climate change. The World Bank estimates the number of people vulnerable to floods has risen to 1.8 billion.i And it has been estimated that the number of cities exposed to extreme temperatures – 35°C and above – will triple by 2050ii.
The report authors advise that there is a growing relationship between cities with strong climate resilience and mitigation plans, and their potential to attract and retain investment, business, and talent. And failure to manage climate risks can be detrimental to a city’s global competitiveness.
Mark Watts, Executive Director at C40 Cities, said: “This new tracker shows how boosting resilience is a win-win for cities and their residents. This tracker goes beyond just telling them what they are already doing well and shows the direction they need to take to remain attractive to investors.”
