Singapore beats major cities Tokyo and Hong Kong in new city ranking

Singapore ranks impressively for ASEAN nations in the inaugural Brand Finance City Index released today, in 6th position. Bangkok follows in 47th, Kuala Lumpur is 53rd, Jakarta is 70th, Manila 82nd and Hanoi is 94th. Presented by brand evaluation consultancy Brand Finance, the ranking is based on a global survey of close to 15,000 members of the public conducted in April 2023 in 20 countries on all continents to measure perceptions of the world’s top 100 cities. The Index has placed London as the best city brand in the world, followed by New York and Paris.

Singapore is the shining star for ASEAN city brands in this new Index, ranked 6th globally, as well as 5th for local work and 6th for remote work. It also performs strongly in the investment dimension, ranking 5th globally. Singapore’s government invests heavily in education and training, producing a highly skilled and educated workforce across various industries. Further, Singapore is strategically located as the gateway to the broader Asia-Pacific region, making it an attractive destination for businesses and investors looking to tap into the region’s potential. Singapore is also ranked 1st for the attribute of being a clean city that cares about the environment. Singapore has strict laws and regulations in place to maintain cleanliness, while public education on environmental responsibility is conducted from a young age.

To arrive at a comprehensive assessment of the city brands in the ranking, alongside measuring familiarity, respondents were asked about the general reputation and their personal consideration of each city as a place to live, work locally, work remotely, study, retire, visit, or invest in. The evaluation of preferences across these seven dimensions was complemented by perceptions of 45 underlying city brand attributes, grouped under seven pillars, such as Business & Investment or Sustainability & Transport.

Largely attributed to its strong performance across the dimensions of work, study and visit, Singapore is the 11th most familiar city globally. Thailand’s capital Bangkok follows not far behind in 16th position. While ranked 47th overall, it boasts one of the Asia-Pacific region’s most thriving tourism industries and performs well in the People and Values pillar; ranked 9^th for being fun and 10^th for being friendly. Kuala Lumpur follows not too far behind in the overall ranking at 53^rd and ranks 46^th for business and trade. Further, while way down in the ranking at 70, Jakarta’s performance is pulled up by its ranking in 43^rd position for business and trade.

Manila, the capital of the Philippines, is ranked 82^nd in the ranking. While Kuala Lumpur and Bangkok rank 2^nd and 3^rd respectively for being affordable cities, Manila also scores well in 19^th position. These cities are known for having lower costs of living, affordable transport and attractions, and cheaper accommodation, making them attractive spots for young people and tourists from Western nations. We can make one final comment for Hanoi which, while ranked 94^th overall, is making some positive moves in the business and trade pillar, ranked 74^th. Hanoi is emerging as a city to watch in terms of attracting Western tourists.

Alex Haigh, Managing Director of Brand Finance Asia, commented: “With their diverse cultures, growing economies, and innovative urban landscapes, ASEAN cities are beacons of progress, fostering connectivity, sustainability, and resilience at their core of their city brands. Singapore’s world-class infrastructure and investment opportunities position it as a global leader, setting the pace for economic progress. Additionally, the surge in tourism has become a catalyst, propelling economic growth throughout the entire region.”