In this study, Global City Lab adopted a customer-based brand valuation approach, emphasizing the equity of the city brand relationship and customers’ recognition of the city. The flow of investors, tourists, international students and professionals always affects the development of a city. The competition among cities is primarily among their customers. Global City Lab releases the analysis report of "2019 Global Top 500 Cities" every year. Global City Lab is the world's first professional institution engaged in the evaluation of city brand value, calculating the for major cities in each country based on the analysis of six dimensions: economy, culture, governance, environment, talent and reputation. A clear city brand strategy can enhance the city's standing and strengthen its cohesion. Cities with brand values over 1 trillion dollars include Paris, Los Angeles and Sydney, while Hong Kong has a brand value of 783.63 billion dollars, ranking ninth in the world and first in China.Ĭity brand is not only a valuable resource of a city, but also a driving force for city development, in that the brand value of a city directly affects the flow of capital, information, commodity and talent into the city. Furthermore, London and Tokyo ranked second and third, with brand values of 2.02 trillion dollars and 1.91 trillion dollars, respectively. Accordingly, New York is stated as the world's most valuable city, with a brand value of 2.20 trillion dollars. Can a city be branded? Can the value of a city brand be measured? An analysis report compiled by the Global City Lab of the Global Top 500 Cities was released in New York on 27th Dec,2019.
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