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Lagos Ranks 5th Best African City – Report

Lagos has emerged as the fifth best African city with high desirability by people to live, work, and invest, according to a report by Brand Finance City Index 2023.

The report puts Lagos (Nigeria) at 56.7 per cent behind Cape Town (South Africa), Cairo (Egypt), Johannesburg (South Africa), and Casablanca (Morocco) which are ranked the first four best African cities with 62.9, 60.7, 59.7, and 59.3 per cents respectively.

Nairobi, the capital of Kenya, also makes the list of best African cities as the sixth African city with 55.1 per cent, coming just behind Lagos.

On global rankings, Cape Town, Cairo, Johannesburg, Casablanca, Lagos and Nairobi are the only six African countries that appear on the 100 world’s best cities as numbers 60, 67, 72, 76, 90, and 94 respectively.

London (England) is the world’s best city brand in the ranking scoring, 84.6 per cent, while New York (the United States) and Paris (France) come as 2nd and 3rd, garnering 83.0 and 79.7 per cents respectively.

“The ranking is based on a global survey of close to 15,000 members of the public conducted in April 2023 in 20 countries on all continents to measure perceptions of the world’s top 100 cities,” the report says.

Commenting on the report, the Chairman and Chief Executive Officer of Brand Finance, David Haigh, said, “London’s exceptional performance in the Index can be attributed to its global familiarity.

“Coming first on this particular measure, London has a huge advantage over its peers, leading to its success in the ranking overall as the world’s best city.

“Knowing a city allows the public to form positive perceptions about it – to recognise its reputation and to consider it as the preferred place to live, work, study, retire, visit, or invest.

“High familiarity means a deeper understanding of its qualities and a broader reach of its appeal, allowing the city to draw significant economic benefits from inbound migration, investment, and tourism.”

However, Zurich (Switzerland), which ranks 17th on the global table with 72.0 per cent, is judged the best city in the world for investment alongside other factors to live and work.

“Zurich is a highly desirable destination to work locally, work remotely, invest, and retire, claiming the top spot for each dimension.

“The city scores exceptionally well on reputation (4th) and consideration (1st) when considering all seven dimensions combined too, but a low score on familiarity (53rd) prevents it from taking a higher spot in the overall Brand Finance City Index ranking (17th),” the report says.

Source : Punch