Paris has been named the third most powerful city in the world in a key study of 2015. Beaten only by New York and London in the overall rankings, in second and first places respectively, the French capital scored highly in this study carried out by the Mori Memorial Foundation’s Institute for Urban Strategies.
The Global Power City Index (GPCI) aims to determine the strengths and weaknesses of 40 cities from across the globe, as well as the areas in which they have yet to reach their full potential.
The study evaluates the cities’ “magnetism”, in other terms, how attractive they are to foreign business and individuals. The analysis and results of the index were founded on a set of six categories, each deemed to represent a city’s strength: economy, research and development, cultural interaction, livability, environment and accessibility.
Paris has consistently been a key player in the GPCI. Since the study first started in 2008, Paris has steadily held third place in the overall rankings and really shines when it comes to quality of life. Despite coming 13th in the economic table, Paris came out on top in terms of both Livability and Accessibility.
According to Hugues de la Morandière of Agence Varenne, our residential Parisian associates, “Quality of life appears to be a big draw of the City of Light. Its high ranking is also explained by the strong concentration of cultural and historical sites in a relatively compact and easy to access city centre”. The price of renting and buying property are also factors in Paris’ ranking, which also scores highly in Research and Development and Cultural Interaction, ranking fifth and third respectively.
17th Arrondissement, Paris – Guide price €1,850,000
Drawing room, 17th Arrondissment, Paris – Guide price €1,850,000
View, 17th Arrondissement, Paris - Guide €1,850,000
Dining area, 4th Arrondissement, Paris - Guide price €3,975,000
Property availability and prices correct at time of posting