Forces of globalization, urbanization and technology are transforming the definition of a successful city and reshaping the global urban hierarchy in the process. Success can no longer be measured simply by considering a city's size and history. Today it is more likely to revolve around innovation, liveability and the ability to transform and adapt to constantly changing socio-economic forces.
The JLL City Momentum Index (CMI) tracks the rate of change in urban economies and commercial real estate markets to identify cities with the most dynamic economies. Covering 120 established and emerging cities around the world the CMI measures short-term socio-economic and commercial real estate momentum along with related measures of 'future-proofing': whether a city has the educational, innovative and environmental resources to maintain long-term sustainable momentum.
Many of the 'Top 20' cities in the 2016 CMI – London, San Francisco and Sydney for example– are home to vibrant mixed-used districts which create and amplify opportunities to conceive and commercialize new ideas. This reinforces the idea that city momentum involves much more than economic growth. It also requires building an innovation-oriented economy through technology. It means creating cutting-edge new businesses. And it involves attracting talent and nurturing a diverse and inclusive workforce.