Taipei rated fifth in Emerging World Cities survey

2015/11/25

Taipei is the fifth leading emerging city in the world, according to research released earlier this month by Chicago-based commercial real estate services and management firm Jones Lang LaSalle Inc.

In JLL’s report, “Globalization and Competition: The New World of Cities,” among the 30 emerging cities surveyed, Taipei trails only Shanghai, Beijing, Dubai and Istanbul in that order.

Based on seven major indexes, including the Economist Intelligence Unit’s Hot Spots Index, Global Financial Centers Index as well as Globalization and World Cities, the report rates the 30 cities based on such criteria as financial activity, higher education, human capital and innovation, level of globalization and physical infrastructure.

“Taipei has developed into an international business center and is rapidly building its reputation as a financial hub,” the JLL Cities Research Center said. “As such, the city is one of the top 10 globally in terms of corporate headquarters and one of the 40 largest destinations for real estate investment.”

According to the survey, while physical infrastructure is perhaps the most urgent deficit in Emerging World Cities, Taipei’s 25th-place ranking in the EIU’s Hot Spots Index is the highest among its peers.

Given the country’s leading institutional effectiveness, second-place ranking in higher education and seventh-place ranking in human capital and innovation, the report characterized Taipei as one of four competitive megacities, along with Istanbul, Kuala Lumpur and Mexico City.

The survey also highlighted the northern Taiwan metropolis as one of the strongest examples of cities that benefit from a highly strategic and dynamic labor market as they upgrade into higher-value sectors.

Tony Chao, managing director of JLL Taiwan, said as Taipei strives to become an Established World City, it needs to address the key challenges of enhancing market liquidity and transparency, recruiting top global professionals and building an eco-friendly environment for sustainable growth.

In other sections of the survey, New York, London, Paris, Tokyo, Hong Kong and Singapore are listed as the top six Established World Cities, while Munich, Oslo, Barcelona, Vancouver and Denver are among the New World Cities.

Source: Taiwan Today (http://taiwantoday.tw/ct.asp?xItem=239298&ctNode=2194&mp=9)