Tel Aviv Soars 12 Spots in Global City Rankings
Translated & summarized from Maariv by baba
Tel Aviv climbed 12 spots to 34th in Oxford Economics' global city rankings, driven by its economy and human capital, despite lower scores in quality of life and governance. The report notes the impact of security challenges and geopolitical risks on its economic standing.
The story in 6 lines · by baba
- Tel Aviv rose 12 places to 34th in global city rankings.
- Economy and human capital were Tel Aviv's strongest categories.
- Quality of life and governance scored lower for Tel Aviv.
- Security situation and housing prices pose challenges.
- New York leads the rankings; Dubai and Riyadh are rising.
- Haifa and Jerusalem also ranked, lower than Tel Aviv.
Tel Aviv has jumped 12 places in Oxford Economics' global city rankings, reaching 34th place worldwide and surpassing cities like Vienna, Seoul, and Dubai. The report, now in its third year, evaluates cities across five key categories: economy, human capital, quality of life, environment, and governance, aiming to assess their current standing and ability to attract investment, companies, and skilled workers.
Tel Aviv achieved a weighted score of 81.2 out of 100, with its strongest performance in the economy category, ranking 16th globally, and human capital, placing 31st. However, its scores were lower in quality of life (156th), environment (234th), and governance (401st).
The report attributes Tel Aviv's economic strength to its concentration of technology companies, a developed startup ecosystem, and the presence of international firms, alongside high education levels and a skilled workforce. Despite these strengths, researchers note that high housing prices and the security situation present significant challenges. The report specifically mentions the war following the October 7th attack and the conflict with Iran as factors that have impacted the economy and increased geopolitical risks.
Other Israeli cities included in the ranking are Haifa at 144th place with 66.3 points, and Jerusalem at 179th with 63.8 points. All three Israeli cities received the same score of 58.3 points in the governance category.
New York continues to lead the overall rankings, with Europe and North America dominating the top 100. However, the report highlights the growing influence of cities in Asia and the Middle East, with Dubai and Riyadh entering the top 50 this year at 42nd and 50th places, respectively.
