London has been named as the 'World's Most Powerful City' for a fourth year in a row, extending its lead over New York.

The eighth Global Power City Index (GPCI), developed by The Mori Memorial Foundation’s Institute for Urban Strategies, showed London with an increased lead over second placed New York thanks largely to its rise in the 'Economy' rankings.

The British capital was already in the top three for 'Research and Development (R&D)', 'Cultural Interaction' and 'Accessibility'. But its economic ranking jumped from fourth to second over the past year.

London was found to be weaker in terms of 'Livability' (19th), largely due to factors such as high costs of living, consumer prices and housing rental costs. It also finished relatively weak in the 'Environment' ranking (8th).

Dr. Hiroo Ichikawa, executive director of The Mori Memorial Foundation, said: “London is the must-watch city of the year. The city’s continuing strength is grounded in its long-term focus on redevelopment, including the on-going post-Olympic initiatives around the Queen Elizabeth Olympic Park and the construction of Crossrail.”

The Mayor of London, Boris Johnson, said: “With a thriving economy, an unrivalled cultural scene, numerous top sporting venues, some of the best universities in the world, a low crime rate and much else besides, it is no wonder that London continues to outstrip other cities across the world. As London grows to record levels we are working hard to build the new homes and deliver the infrastructure that will ensure we remain a global powerhouse for decades to come.”

Top ten

1 - London (1519.8)2 - New York (1384.1)3 - Paris (1307.9)4 - Tokyo (1290.4)5 - Singapore (1207.4)6 - Seoul (1088.9)7 - Hong Kong (1084.6)8 - Berlin (1072.8)9 - Amsterdam (1062.0)10 - Vienna (1011.1)