South Africa’s largest cities are still seen as attractive destinations for investment – but their sheen is dulling, fast.<\/p>\n\n\n\n
This is according to the 2023 Global Cities Report by management consulting firm Kearney, which shows a mixed bag of results for Africa. <\/p>\n\n\n\n
The Global Cities Index (GCI) aims to quantify how much a city can attract, retain, and generate investment, people and ideas, with cities measured on five dimensions: human capital, information exchange, cultural experience, political engagement and business activity. <\/p>\n\n\n\n
New York, London, Paris, Tokyo, and Beijing all retained their places in the top five, whilst Surat in India came in last at 165. <\/p>\n\n\n\n
As per the rankings, Johannesburg remained 58th on the list. <\/p>\n\n\n\n
South Africa’s economic hub saw improvements in the Human Capital and Political Engagement dimensions (15th in the world.)<\/p>\n\n\n\n
However, drops in the Information Exchange and Cultural Experience dimensions offset these improvements.<\/p>\n\n\n\n
Cape Town, on the other hand, fell two places in the rankings to 84th position. <\/p>\n\n\n\n
It saw declines in Human Capital, Business Activity, and Cultural Experience, mainly due to the heightened global competition for talent, changing business dynamics and the disruptive economic forces in Africa. <\/p>\n\n\n\n