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The stunning Australian metropolis Sydney has secured the top spot in the prestigious Brand Finance City Index, reaffirming its status as the best city. Based on a global survey of 15,000 individuals across 20 countries, the inaugural index recognized Sydney’s captivating beauty and outstanding quality of life. With its breathtaking natural scenery, pristine beaches, and iconic harbour, Sydney has become a highly desirable destination for people worldwide. The city also clinched fifth among the best global cities, further solidifying its prominence on the international stage.

Brand Finance Australia’s Managing Director, Mark Crowe, expressed his delight over Sydney’s remarkable achievements in the index. He emphasized how the city’s allure for living, working, and studying was exemplified by its impressive fifth-place ranking. Crowe highlighted Sydney’s global reputation as a top retirement destination, securing the second spot in this category. The city’s cultural diversity, recreational activities, unique healthcare system, and great weather played pivotal roles in its recognition as an ideal retirement location.

Moreover, Sydney’s robust economy and abundant employment opportunities across various industries, including finance, technology, tourism, and the creative sectors, propelled it to second place globally for local and remote work. Additionally, the city’s investment potential was acknowledged with a third-place ranking. Sydney’s stable economy, thriving real estate market, and significant infrastructure development have attracted investors worldwide.

While Sydney basks in its well-deserved glory, Melbourne also shines brightly in the Brand Finance City Index. Ranked as the 16th best global city overall, Melbourne boasts exceptional liveability and retirement options. Its high-quality healthcare, well-maintained infrastructure, diverse recreational activities, and vibrant arts and culture contribute to its reputation. Although Sydney outperforms Melbourne regarding global familiarity, the latter has gained international recognition steadily due to its attractive living and working conditions.

Surprisingly, Perth emerges as a hidden gem in the index, despite its 52nd overall ranking. The city excels in various attributes, securing 16th place for liveability and 11th place for pleasant weather. Additionally, Perth holds the seventh-highest reputation for retirement globally. To bolster its city brand further, Perth must overcome its lack of global familiarity, currently ranked 85th. Enhancing tourism promotion efforts, showcasing its stunning natural beauty and architectural wonders, and investing in improved transportation infrastructure are crucial steps toward gaining international recognition.

The Brand Finance City Index employs a comprehensive assessment of city brands by considering familiarity, general reputation, and personal considerations for living, working, studying, retiring, visiting, and investing. Respondents’ perceptions of 45 city brand attributes, grouped under seven pillars such as Business & Investment and Sustainability & Transport, provide a holistic evaluation.

London, the capital of the United Kingdom, emerged as the world’s best city brand with an impressive score of 84.6 out of 100. Its global familiarity proved to be a significant advantage, leading to its success in the overall rankings. London excelled in multiple dimensions, ranking first in study and visit and within the top four in all other categories. New York City secured the second spot, recognized for its strong familiarity and unprecedented investment, study, and visit opportunities. Paris claimed the third position, known for its exquisite cultural heritage, remarkable attractions, and welcoming atmosphere.

The Brand Finance City Index 2023 showcases cities’ diverse and captivating qualities, making them appealing to individuals worldwide. Sydney’s top ranking is a testament to its allure and desirability as a place to call home, while Melbourne and Perth demonstrate their unique strengths in the global city landscape.