KL ranked second-best city in Southeast Asia by Oxford Economics

SHAH ALAM: Kuala Lumpur has been crowned the second greatest city in the Southeast Asian region in the Oxford Economics Global Cities Index 2024.

The latest list places the city at the 135th spot out of 1,000 cities globally, with Singapore leading the region at 42nd in the index. Other key cities in Southeast Asia mentioned include Bangkok, Thailand at 192nd, followed by Manila, Philippines at 256th and Jakarta, Indonesia at 284th.

Globally, New York, United States claims the top spot in the index, with London, United Kingdom and San Jose, United States trailing behind, reported Sinar Harian.

Oxford Economics stated that the Global Cities Index encompasses 1,000 major cities across 163 countries. The index comprises five categories: economy, human capital, quality of life, environment, and governance, aggregated to create an overall score for each city.

From an economic standpoint, Kuala Lumpur is ranked 106th based on the size, structure, and growth of the city's economy, examining past performance and future potential.

In terms of human resources, assessing the educational climate and business environment in line with demographic trends, Kuala Lumpur impressively stands at 21st position.

The index shows Kuala Lumpur at 391st for quality of life, considering the benefits of living in each city and the well-being of its residents, including financial well-being, health outcomes, and access to facilities.

For environmental aspects and governance, Kuala Lumpur is positioned at 526th and 334th out of 1,000 global cities, respectively.

Apart from Kuala Lumpur, the city of George Town in Penang holds the 351st place in the Global Cities Index, with Melaka at 359th and Johor Baru at 376th.

Oxford Economics' Urban Services director Mark Britton, commented that cities were the hubs of human civilisation, where innovation, diversity, and progress converge. However, he said that the complex dynamics of cities often reduce our general understanding of what makes a city successful.

"The Oxford Economics Global Cities Index provides a consistent framework to assess the strengths and weaknesses of the world's 1,000 greatest cities. Coupled with our projections, it enables organizations and policymakers to make more informed strategic decisions.

"Though the index scores are based on current performance, there's significant potential for movement in rankings in the coming years as these global cities navigate various global trends including economic uncertainty, political instability, high debt levels, globalization trends, pressures on health and housing, and the impacts of climate change.

"These are among the global trends that have the potential to shift rankings," he explained.

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