This means that the cities which adapt to new economic models compete better in the real estate sector and are more capable of attracting larger cross-border investment flows. These new models are based on promoting innovation, the creation of experiences, shared and circular economy.
Director of global research at JLL, Jeremy Kelly, commented that «the factors companies look for in the cities are changing as a result of the technological disruption, the growing concerns over climate change and the geopolitical tensions».
The report remarks that the new economic models are focused on how cities develop a culture oriented towards customer care services, foster urban experiences, boost the industries of innovation and manage to be sustainable.
London, New York, Paris, Singapore, Tokyo, and Hong Kong have positioned themselves at the top of the Established World Cities list from JLL and The Business of Cities, since 2013, which shows their sturdiness in terms of competitiveness. Seoul joined the list in 2017. Madrid together with Toronto, Chicago, Beijing, Amsterdam, Sydney, San Francisco, Los Angeles, Shanghai, and Washington DC are also competing on the list and becoming more and more relevant.