A Better Measure The populations of the world's largest cities are in constant flux. London became the world's largest city in terms of population in 1825. New York overtook it precisely a century later. Tokyo overtook New York in 1965. And by 2019, London had dropped to No. 37 on that list. And yet London remains an influential global city. That's because cities are about more than sheer population or economic output. They are also centers of innovation, creativity and culture. Small but well-run cities can easily dominate larger cities in terms of influence on global business, culture and politics. Singapore and Dubai established themselves as regional financial centers without becoming megacities. In contrast, Mexico City - one of the largest emerging-economy cities in the world - is burdened by crime, congestion and pollution. All these have kept it from the ranks of influential global capitals. Ranking Cities by Influence So once you get beyond economic output and population... what are the world's most influential cities? Management consultancy firm A.T. Kearney answers that question every year with its annual Global Cities Report. The report examines dozens of variables, including business activity, culture, human capital, political engagement and information exchange. It then adds these scores together to rank the cities. Here are some highlights from the 2019 Global Cities Report. - New York and London top the list, with both cities far ahead of their nearest rivals. Paris rounds out the decade-long dominance of this powerful triad.
- The United States boasts four cities in the top 10 (New York, Los Angeles, Chicago and Washington, D.C.).
- Asia is also home to four cities (Tokyo, Hong Kong, Singapore and Beijing).
- Europe's two cities in the top 10 - London and Paris - punch above their economic weight and account for two out of the top three.
- China, the world's other superpower, has a single city in the top 10 - Beijing, ranking at No. 9.
What lessons can we draw from A.T. Kearney's ranking? Many emerging market cities have already overtaken American and European cities in terms of population. By population, New York City doesn't even make it into the global top 10. But Delhi (India), Cairo (Egypt) and Dhaka (Bangladesh) - all bigger than New York City - must do more than grow their populations to become some of the world's greatest global cities. New York, London and Paris are thriving metropolises because of their dynamism and creativity. The sizes of their populations and economies are less relevant than ever. Tokyo, Hong Kong, Singapore and Shanghai have succeeded in entering the ranks of influential global cities in the past 50 years. But the rest of the non-American and European cities of the world? Well, they have a long way to go. Good investing, Nicholas | 
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