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Thursday, June 13, 2024

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    Cagayan de Oro is Highest Ranked Mindanao City in Oxford Economics 1,000 Global Cities Index

    Cagayan de Oro recently ranked in the upper half of an index ranking 1,000 Global Cities conducted by an economic advisory firm based in Oxford, England.

    The Index was compiled using five broad categories —Economics (including GDP size, growth and economic diversity); Human Capital (including educational attainment, corporate headquarters and population growth); Quality of Life (including life expectancy, income per person and recreation & cultural sites); Environment (including air quality, natural disasters and temperature anomalies); and Governance (scores are calculated at a national level so countries are shown to represent the major cities, with indicators including institutions, political stability and civil liberties)-with most weight given to economic factors such as GDP and employment growth.


     “Our Global Cities Index provides a consistent framework for assessing the strengths and weaknesses of the largest 1,000 cities across the world, and when coupled with our forecasts, it enables organizations and policymakers to make more informed strategic decisions,” said Mark Britton, director of city services at Oxford Economics, based in Oxford, England.

    Not surprisingly, the Philippines’ four metropolitan areas all rated in the upper half of the cities ranked: Manila (256), Cebu (436), Cagayan de Oro (487) and Davao (500).

    Best Cities Index in SouthEast Asia, 2024

    Of the 55 Southeast Asian Cities included in the 1,000 Global Cities, Cagayan de Oro was the highest ranked city in Mindanao (26th), with only Manila (4th) and Cebu (18th) ranked higher. Other Mindanao cities included in the SEA Group were Davao (29th), Zamboanga (48th) and General Santos (51st).

    Overall, Cagayan de Oro ranked best in Environment (338), followed by Economics (450), Human Capital (514) and Quality of Life (626).

    Full List of Indicators per Category

    The Global Cities Index

    Cities are the driving force behind our global economy. They are the engines for national economic growth, centers for education and innovation, and seats of political power.

    In 2023, the 1,000 largest cities in the world accounted for 60% of global GDP and over 30% of the world’s population—and the importance of cities will only continue to grow in the future.

    Oxford Economics 1,000 Global Cities

    In the decade preceding the Covid-19 outbreak, 70% of cities outperformed their respective countries in terms of either GDP or employment growth. But beyond economic strength, cities lead in other domains as well. They tend to have more educated populations and better access to services, as compared to their countries as a whole.

    In 2023, the 1,000 largest cities in the world accounted for 60% of global GDP. This is not just a regional or high-income country story though.

    Oxford Economics’ 1,000 Global Cities are located across the world, in both advanced and developing countries. Metropolitan areas in 163 countries are represented in their 1,000 Global Cities, and the phenomena described above are present in cities in every region of the world, across income levels.

    The importance of cities is well documented, but comparing metropolitan areas in different countries and regions can be challenging due to disparities in data collection and inherent structural differences across cities.

    Nonetheless, assessing the relative strengths and importance of cities around the world is valuable for businesses, academics, and policymakers alike to be able to make informed decisions. Hence, these comparisons must consider more than just economic output or growth; there are several dimensions that can make a city attractive to residents and investors.

    Oxford Economics Global Cities Index 2024

    To address this issue, Oxford Economics came up with this 1st Global Cities Index.

    Covering over 200 countries, over 100 industrial sectors, and 8,000 cities and regions, they provide insights and solutions that enable clients to make intelligent and responsible business decisions faster in an increasingly complex and uncertain world.


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