Kochi: When asked which cities are considered to be India’s top ones, cities like Mumbai, Delhi, and Bengaluru often come to mind. However, a surprising revelation has been made as these cities have ranked lower in terms of liveability and attractiveness compared to smaller cities like Kochi and Thrissur, according to the latest Oxford Economics Global Cities Index.
The ‘Quality of Life’ parameter includes indicators that measure the benefits of living in each city and residents’ well-being, covering financial and health outcomes, as well as access to amenities. Mumbai, the financial capital of India, ranked 915th in quality of life, while the national capital, Delhi, ranked 838th. Bengaluru, the IT hub, was ranked 847th, and Hyderabad was given a ranking of 882nd. On the other hand, Kochi and Thrissur ranked much higher, with scores of 765 and 757 respectively.
Overall Rankings Show Different Results
Despite their lower rankings in quality of life, Mumbai, Delhi, and Bengaluru secured higher overall positions compared to the smaller cities that outperformed them in this aspect. Mumbai stands at 427th, Delhi at 350th, and Bengaluru at 411th in the overall rankings.
The Oxford Economics Global Cities Index ranked New York at the top of the list, followed by London, San Jose, and Tokyo.
Future Trends and Economic Outlook
Looking ahead, the report highlights several global trends that could disrupt these rankings in the coming years. An uneven economic outlook across regions and lingering inflationary concerns could negatively impact the economic scores of many locations. Additionally, debt sustainability remains a significant issue for many developing countries, which threatens the economies of cities in these nations.
Methodology of the Report
The Oxford Economics Global Cities Index used five categories to rank the cities: Economics, Human Capital, Quality of Life, Environment, and Governance. The overall city ranking is determined by these categories with differing weightage: Economics (30 pc), Human Capital (25 pc), Quality of Life (25 pc), Environment (10 pc), and Governance (10 pc).
To create the rankings, data was collected for each indicator for all cities. A normalised score was assigned to each indicator, with the highest-scoring city receiving a score of 100 and the lowest-scoring city a score of 0. These scores were then combined to create a total score for each category and a final overall score was calculated by taking a weighted average of each category’s normalised score.