London has topped the list of most important cities in the world, according to a new survey.
The findings came from a wealth report by Knight Frank Research and Citi Bank.
The survey was conducted among the wealth advisors of the Citi Private Bank and Knight Frank's global network of luxury property specialists.
The surveyed individuals were worth more than $25 million in investable assets. These High Net worth Individuals (HNWIs) assessed the importance of key cities based on investment potential, education institutions, political influence, knowledge and quality of life now and in 10 years.
While 63 percent of the HNWIs opined that personal security is the key factor to be a global city, 60 percent mentioned economic openness. While another 51 percent indicated social stability, 27 percent said availability of luxury housing as the criteria for a global city. Another 21 percent considered educational opportunities as the key factor.
The other factors included political influence, internationally diverse residents, and easy access to other cities, excellent healthcare services, excellent transport network, vibrant arts scene and freedom of speech or press as key factors to be considered for a global city.
London topped the list in almost all categories. Survey respondents from all regions bar one voted it the city that matters most to their clients now. New York took the second place and Hong Kong was in the third place. In addition, three other Asia Pacific countries including Singapore, Beijing and Shanghai have also been listed in the top 10 important global cities.
Only two countries had multiple city representatives, with the U.S. and China each tossing two within the top-10. When it came to fastest growing cities, London was placed third only next to Beijing which topped the list and Shanghai taking second spot. Singapore, Dubai and Hong Kong were close on heels reflecting the fastest growing economies in Asia Pacific.