Seoul climbed 26 spots from 41st last year to become the second-highest ranked Asian city after Tokyo which came in 9th, in an index by Oxford Economics that evaluated 1,000 of the world's largest cities across five categories - economy, human capital, quality of life, environment, and governance - to compare each city's strengths and weaknesses.
With eight of the top ten cities remaining unchanged from the previous year, New York ranked first, followed by London, Paris, San Jose, Seattle, and Melbourne. Sokoto, Nigeria, was the lowest-ranked city in the ranking.
The U.K.-based research firm hailed Seoul as "one of the major economic centres in both Asia and the world." In particular, Seoul ranked among the top 20 cities in the economics category, "primarily due to its substantial GDP size, achieved over several decades of remarkable economic growth," which transformed it from "a war-torn nation into one of the world’s leading economies."
But the city ranked lowest in the environment category due to "relatively poor air quality."
The index also pointed out that South Korea "now faces a period of political turmoil that began with President Yoon Suk Yeol's declaration of martial law in December 2024 and his subsequent impeachment," suggesting that future rankings may change depending on "how the political crisis is resolved."
Meanwhile, the firm offered a positive outlook for the global economy despite looming uncertainties. "Trade tensions and deglobalisation are causing considerable headwinds to economic growth worldwide, potentially triggering substantial shifts in supply chains and the way countries do business with each other over the coming years," the report forecast, adding that "the world's leading cities have historically demonstrated resilience, making them best placed to navigate current challenges."
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