Photographs: Punit Paranjpe/Reuters
According to a joint study - 2012 Global Cities Index - conducted by AT Kearney and the Chicago Council on Global Affairs, "Even though New York, London, Paris, and Tokyo still rank among today's top cities, it appears that Beijing and Shanghai may become significant rivals in the next 10 to 20 years."
The Global Cities Index measures global engagement of cities across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement.
The report also highlights that Asia is here to stay. In addition to Tokyo, other Asian cities, including Hong Kong, Seoul, Singapore, Beijing, and Shanghai, represent up-and-coming metroplexes that will further accentuate the ascendance of Asian cities.
Indian cities like Mumbai have moved up four positions since 2008. It now stands at 45th position, while Delhi ranks 48 and Bangalore at 58.
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Source: AT Kearney
A look at world's top 10 cities
Photographs: Gary Hershorn/Reuters
New York
2012 Ranking: 1
2010 Ranking: 1
2008 Ranking: 1
Despite the financial turmoil of the past few years, New York has consistently led the rankings in all three editions of the Global Cities Index.
The economy of New York City is the biggest regional economy in US and the second largest city economy in the world after Tokyo. It is home to the New York Stock Exchange and NASDAQ, the world's largest stock exchanges by market capitalisation and trading activity.
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A look at world's top 10 cities
Photographs: Toby Melville/Reuters
London
2012 Ranking: 2
2010 Ranking: 2
2008 Ranking: 2
London has managed to maintain its position, despite the economic downfall. It is a major financial centre for international business and commerce. London has five major business districts: the City, Westminster, Canary Wharf, Camden & Islington and Lambeth & Southwark.
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A look at world's top 10 cities
Photographs: Philippe Wojazer/Reuters
Paris
2012 Raking: 3
2010 Ranking: 4
2008 Ranking: 3
Paris is not only the political and cultural capital of France but also its major financial and commercial centre. Although in terms of population the urban area of Paris is only approximately the 20th largest urban area in the world, its GDP is the fourth-largest in the world, after the urban areas of Tokyo, New York, Los Angeles, and before Chicago and London.
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A look at world's top 10 cities
Photographs: Toru Hanai/Reuters
Tokyo
2012 Ranking: 4
2010 Ranking: 3
2008 Ranking: 4
Tokyo is a major international finance centre, houses the headquarters of several of the world's largest investment banks and insurance companies, and serves as a hub for Japan's transportation, publishing, and broadcasting industries.
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A look at world's top 10 cities
Photographs: Bobby Yip/Reuters
Hong Kong
2012 Ranking: 5
2010 Ranking: 5
2008 Ranking: 5
As one of the world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade, and the currency, Hong Kong dollar, is the ninth most traded currency in the world.
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A look at world's top 10 cities
Photographs: Eric Thayer/Reuters
Los Angeles
2012 Ranking: 6
2010 Ranking: 7
2008 Ranking: 6
Los Angeles is the largest manufacturing centre in the western United States. It is also home to seven Fortune 500 companies.
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A look at world's top 10 cities
Photographs: Jason Reed/Reuters
Chicago
2012 Ranking: 7
2010 Ranking: 6
2008 Ranking: 8
Chicago is home to 12 Fortune 500 companies. Sectors like manufacturing, printing and publishing and food processing play major roles in the city's economy.
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A look at world's top 10 cities
Photographs: Reuters
Seoul
2012 Ranking: 8
2010 Ranking: 10
2008 Ranking: 9
The world today is more about cities than countries, and a place like Seoul has more in common with Singapore and Hong Kong than with smaller Korean cities. Seoul is home to some the leading consumer durable and auto companies. Although it accounts for only 0.6 percent of South Korea's land area, Seoul generates 21 percent of the country's GDP.
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A look at world's top 10 cities
Photographs: Reuters
Brussels
2012 Ranking: 9
2010 Ranking: 11
2008 Ranking: 13
Being the de facto European capital, its economy is massively service-oriented. It has a number of regional headquarters of multinational corporations.
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A look at world's top 10 cities
Photographs: Molly Riley/Reuters
Washington DC
2012 Ranking: 10
2010 Ranking: 13
2008 Ranking: 11
Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the district in 2010 was $103.3 billion.
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