For example, when we factor in its city innovation and wellbeing rankings, Munich takes top spot in the Trifecta, compared with ninth place in the City Wealth Index. Tokyo climbs to second from fourth.
The largest jump is from Edinburgh, up 28 places from its position in the index. Melbourne, Stockholm and Boston all see their rankings rise by more than 20 places, scoring highly for innovation and, in Boston’s case, also making it into the top ten for health.
In our sister report Active Capital, which offers insights into the dynamics of global real estate capital markets, we identified global innovation- led cities that will attract and retain talent and wealth, creating future opportunities.
The innovation score comprises four elements: quality of innovation factors; innovation infrastructure, such as the number of research organisations in a city; funding; and the drive to innovate.
Cities were split into tiers based on their scores. London is the sole occupant of the top tier, followed by Tokyo and New York in the second echelon. Seoul and Zurich are in the third and fourth tiers respectively, which boosts their City Wealth Index ranking by ten places overall.