Seoul now included among top tier "Big Seven" global cities, according to Jones Lang Lasalle (real estate market, to buy)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Their description of what constitutes an established world city:
Quote:
1. The ‘Big Seven’:
Accounting for nearly one-quarter of all capital invested in commercial real estate globally, this elite group holds the depth, liquidity and unique soft power to remain the default destinations for cross-border investors and corporates.
2. The ‘Contenders’:
This group of 10 ‘Contender’ cities have acquired many, but not yet all, of the attributes of the ‘Big Seven’. They are competing successfully for global talent, capital and businesses. Collectively they have registered the fastest growth of any city group in real estate investment over the past cycle.
I lived and worked in Seoul for 8 months and it is definitely an impressive city...awesome subway system, nice and efficient airport, probably the best food of anywhere I've lived, clean, parks...excellent city so I have no problem ranking it that high.
Destitute to quickly rising glamour at rather fast intervals. Drastic turn around. Ethereal urban city landscapes rarely without any other parallel. Going to the moon:
I love America but, a lot of our cities do not belong on that list.
New York. Multiple industries, multi-national political and, corporate interests.
Washington DC. Where you go to buy Congressmen and Senators.
Hollywood. Entertainment, one of the few things we still can export.
San Francisco. HQ to many international tech corporations; Google, Facebook, etc..
The rest? People just live there. Maybe I'm being too harsh on the other ones but, Chicago? That entry almost invalidates the entire list...
I love America but, a lot of our cities do not belong on that list.
New York. Multiple industries, multi-national political and, corporate interests.
Washington DC. Where you go to buy Congressmen and Senators.
Hollywood. Entertainment, one of the few things we still can export.
San Francisco. HQ to many international tech corporations; Google, Facebook, etc..
The rest? People just live there. Maybe I'm being too harsh on the other ones but, Chicago? That entry almost invalidates the entire list...
You must not know a lot about Chicago if you can make such a statement. I've quibbled with Chicago being ranked as a top 6-7 global city, as you see from time to time in various studies, but there is no reasonable argument that it shouldn't place at least in the top 12 to 20 when you look at the breadth of its strengths and historical pedigree.
Hong Kong may be more "global" in terms of diversity, but nowadays Beijing definitely has more global influence, and it is a megapolis itself.
If mainland China opened up its real estate market for private ownership and development, Beijing and Shanghai would already be in the “big seven”. Every Chinese city would jump a few spots on the list. China’s financial and real estate markets are still fairly closed off to outside development. That’s why HK is higher.
I’m a little surprised Singapore makes it into the “big seven”.
I love America but, a lot of our cities do not belong on that list.
New York. Multiple industries, multi-national political and, corporate interests.
Washington DC. Where you go to buy Congressmen and Senators.
Hollywood. Entertainment, one of the few things we still can export.
San Francisco. HQ to many international tech corporations; Google, Facebook, etc..
The rest? People just live there. Maybe I'm being too harsh on the other ones but, Chicago? That entry almost invalidates the entire list...
I generally agree with your sentiment, but Chicago is very influential from a global city perspective in the futures market.
New York in comparison, though the more important financial center in the USA, is more oriented to the cash (or spot) market.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.