World’s Smartest Cities Revealed

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06 December 2021

The Smart Centres Index has published its latest findings on the world’s best hubs for the development of new technology.

The global ranking is updated every six months, and places New York in first place, followed by London, with Oxford, Cambridge, Hong Kong, and Singapore taking the next places.

 

How Does the Smart City Index Work?

 

The Smart Centres Index (SCI) is a factor assessment index based on three dimensions related to innovation and technology in major commercial and financial centres:

 

• Innovation Support - the support provided by regulatory and other systems to innovation and technology in a centre.
• Creative Intensity - the intensity of technology and innovation services and opportunities in a centre.
• Delivery Capability - the quality of the technology and innovation work that is taking place in a centre.

 

The latest data shows that the leading centres in the SCI are based in places that combine an innovative, cultural centre with a high-performing university sector across STEM subjects, supported by well-developed regulatory, commercial and financial services.

Western European centres feature strongly, with seven centres in the top 10, alongside New York in first place, and Hong Kong and Singapore from Asia/Pacific.

US and Chinese centres do not feature as highly in the index as might be expected given the extent of their development in technology, as shown by their leading position in the filing of patents and with China leading the US on this measure.

Looking at the dimensions that make up the SCI, US centres generally rank lower for “Creative Intensity” than their overall rank; and Chinese and other Asia/Pacific centres score lower for Innovation Support, including regulation, than they do for the other dimensions.

 

How Does Your City Rank?

 

Picture: a table showing the full data set

 

Professor Michael Mainelli, Executive Chairman of Z/Yen, said: “Technology and science change how we engage with the world. The pace of innovation is heightened as connectivity keeps increasing. More and more, the successful commercial centres in the world are those who nurture technology. These smart centres are forming in four clusters, an exceptionally strong UK, North America, Europe, and Southeast Asia.

“We anticipate the emergence of a singular China soon too. Policymakers are realising that narrow technology areas, e.g. fintech, are not sufficient and they need to rethink how they build a truly smart, knowledge economy. We have much to learn.”

You can take part in SCI 5 by rating the financial and commercial centres you know here – www.smartcentresindex.net/survey/

Picture: a photograph of a globe

Article written by Ella Tansley | Published 06 December 2021

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