New York City beat London by a whisker to become the best city in the world according to a panel of Time Out judges, who voted on the cities considering criteria such as architecture, arts, food and drink, the city's buzz and quality of life.
"New York is number one but only just, with London following close behind," Jessica Cargill-Thompson, editor of the Time Out book 'The World's Greatest Cities', told CNBC.
"Financially they're both very strong, obviously they've taken some knocks but they're still very strong," she said.