Mori Memorial Foundation Releases GPCI-2023 and GPCI-Financial Centers Reports
The Mori Memorial Foundation's Institute for Urban Strategies, a research body established by Mori Building, has published the Global Power City Index (GPCI) 2023 report, evaluating the overall strength of 48 major cities worldwide. The rankings remained unchanged from 1st to 7th, with Tokyo and Paris closely competing for the top spots. Dubai rose to 8th, becoming the first Middle Eastern city in the top 10, while Shanghai dropped to 15th. The report highlights the impact of global conditions, such as changes in transportation, cost of living, and workstyles, on the rankings. The Livability function saw significant changes due to rising costs of living, while the Accessibility function reflected decreased commuting times in many cities. The report also introduces the GPCI-Financial Centers, which evaluates the status of major cities in the global financial industry. New York and London lead the financial sector, followed by Asian cities like Tokyo, Beijing, Shanghai, and Hong Kong.
For more information, please refer to the full press release: [Link to press release](https://mori-m-foundation.or.jp/pdf/GPCI2023_release_en.pdf)
Impact of GPCI-2023 and GPCI-Financial Centers Reports on New Businesses
The Global Power City Index (GPCI) 2023 report by the Mori Memorial Foundation offers valuable insights for new businesses planning their global expansion strategies. The report evaluates the overall strength of 48 major cities worldwide, providing a comprehensive view of the global business landscape.
Understanding Global Rankings
The unchanged rankings from 1st to 7th, with Tokyo and Paris vying for the top spots, suggest that these cities continue to offer a conducive business environment. However, the rise of Dubai to 8th position, the first Middle Eastern city in the top 10, indicates a shift in global power dynamics. This could present new opportunities for businesses looking to tap into emerging markets.
Adapting to Global Conditions
The report highlights the impact of global conditions, such as changes in transportation, cost of living, and workstyles, on the rankings. New businesses must adapt to these changing conditions to ensure their sustainability and growth. For instance, the rising cost of living reflected in the Livability function could influence decisions related to employee compensation and benefits.
Financial Centers and Business Growth
The introduction of the GPCI-Financial Centers report, which evaluates the status of major cities in the global financial industry, is particularly relevant for businesses in the financial sector. With New York and London leading the sector, new businesses can strategize their growth plans based on the financial strengths of these cities.
In conclusion, the GPCI-2023 and GPCI-Financial Centers reports serve as valuable resources for new businesses to navigate the global business landscape effectively.