World's leading cities: Mumbai soon to be No. 7!

Although New York and London are seen by high net worth individuals as the world's leading hubs over the next 10 years, emerging nation centres are fast catching up.

Mumbai's prominence as a future city increases by 118 per cent, Shanghai by 91 per cent, and Sao Paolo by 66 per cent, states the Knight Frank Global Cities Survey.

The three biggest winners point to a rebalancing within the Brazil, Russia, India and China (BRIC) grouping, with the main cities to watch being Mumbai, Moscow and Sao Paulo. They look set for a dramatic upswing in their status, with each expected to climb by between six and eight places over the next decade.

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New York City, the most populous city in the United States is a financial, cultural, transportation, and manufacturing hub.

New York scores high on economic activity and quality of life.

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London, a global city scores high in arts, commerce, education, entertainment, fashion, finance, healthcare, media, professional services, research and development and tourism.

The Knight Frank survey says London's refurbished St Pancras station and Heathrow's Terminal Five show that London has invested in infrastructure in recent years.

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3. Shanghai
Score: 558

Shanghai, a major global finance hub and international shipping centre is on a fast growth track.

The ongoing West-to-East shift in economic might is highlighted by the fact that eight of the 13 jumps in this area were by Asian cities, led by Shanghai and Kuala Lumpur, the Knight Frank survey points out.

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Beijing, the capital of China is the political, educational, and cultural centre of China.

Beijing ranks high on economic activity.

Some of the established Asian centres, such as Singapore, Hong Kong and Tokyo, appear at risk of relative weakening compared to China's rising stars of Beijing and especially Shanghai.

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One of the world's leading international financial centres, Hong Kong is known for low taxation rates and free trade.

The Hong Kong dollar is the ninth most traded currency in the world.

Hong Kong ranks high on several parameters like economic freedom, financial and economic competitiveness and quality of life.

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One of the Four Asian Tigers, Singapore has a highly developed market-based economy.

Singapore's rise in this category might raise eyebrows, says the Knight Frank survey.

The city-state is a relative minnow in terms of its population, military and global economic power its success in influencing regional powers is due to its skills of coercion and attraction.

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Mumbai is the financial and entertainment capital of India, generating 5 per cent of India's GDP.

With the main cities to watch being Mumbai, Moscow and Sao Paulo. They look set for a dramatic upswing in their status, with each expected to climb by between six and eight places over the next decade, says the Knight Frank study.

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Tokyo has been named as one of the three 'command centres' for the world economy, along with New York City and London.

Tokyo was named the second most expensive city for expatriate employees and the fourth 'Most Liveable City' and the world's most livable megalopolis by the magazine Monocle.

Paris was ranked among the three most important and influential cities in the world and the first three 'European cities of the future' according the Financial Times in 2009 and 2010.

It has been ranked among the top ten cities in the world to live according to the British review Monocle.

10. Moscow
Score: 117

A major political, economic, cultural, scientific, religious, financial, educational, and transportation centre, Moscow has 79 billionaires, displacing New York as the city with the greatest number of billionaires.

Dubai has emerged as a global financial hub with focus on tourism, real estate, and financial services.

The city is called 'shopping capital of the Middle East' with more than 70 shopping malls.

The Sao Paulo metropolitan area is ranked as the second most populous in the Americas and is among the five largest metropolitan areas of the planet.

Zurich is one of the world's largest financial centres. The city is home to a large number of financial institutions and banking giants.

Zurich scores high in terms of offering the best quality of life in the world.

Geneva is a global city, a financial centre, and a worldwide centre for diplomacy.

Geneva has been described as the third biggest European financial centre after London and Zurich and the world's eighth most important financial centre by the Global Financial Centres Index.

The city has been referred to as the world's most compact metropolis and the 'Peace Capital'.

Washington has a growing and diversified economy offering professional and business service jobs.

Despite the economic crisis, Washington ranked second on the Forbes list of the best long-term housing markets in the country.

Berlin, the capital city of Germany is second most populous city and the eighth most populous urban area in the European Union.

Berlin is a world city of culture, politics, media, and science.

Sydney has a good reputation as an international centre for commerce, arts, fashion, culture, entertainment, music, education and tourism.

Sydney was ranked 28th globally for economic innovation in the Innovation Cities Top 100 Index.

It is also among the top 10 most livable cities in the world.

Los Angeles is a centre of business, international trade, entertainment, culture, media, fashion, science, technology, and education.

Los Angeles has been ranked the third richest city and fifth most powerful and influential city in the world.

The Seoul National Capital Area is the world's second largest metropolitan area with a population of over 24.5 million.

Seoul is considered to one of the world's top ten financial and commercial centres. The city has a technologically advanced infrastructure in place.

San Francisco, the fourth most populous city in California is a banking and finance centre. It has more than 30 international financial institutions.