DUBAI, September 16, 2014 /PRNewswire/ --
If a city's arteries are its roads, then its people are its lifeblood - the energy that powers its growth and development. Human capital is what makes a city great.
"Talent attractiveness is becoming the true currency by which countries, regions and cities compete with each other," explains Bruno Lanvin, Executive Director for Global Indices at INSEAD business school and co-author of the 2013 Global Talent Competitiveness Index.
"You can build nice buildings and airports and make nice lifestyles overnight but to get culture and history, that takes longer," he said. "You need something in between - talent. If you recruit the right people to your city, they will be successful, and that success will drive your city."
So how do you become a global city that can attract the best talent? Places such as London, New York, Paris and Sydney are global brands, and they are on nearly everyone's wish list both for visiting and living. Companies and governments in these cities, and others such as Tokyo, Toronto and Hong Kong, have no trouble hiring the best people. They can because they can offer the full package: global headquarters, good salaries, culture, the history, restaurants, lifestyle and, most importantly, the brand. They are the cities you want on your CV.
Accordingly, they rank at the top of the A.T. Kearney Global Cities Index, followed by Los Angeles, Chicago, Washington and Madrid. But a new generation of cities is emerging as potential leaders in the field: Singapore, Dubai, Beijing, Shanghai and Buenos Aires, to name just a few. These cities are becoming increasingly competitive in attracting the best human capital.
In just a few decades, tiny Singapore has enjoyed miracle growth, and has emerged as a true global player, boasting a diversified and hi-tech economy and one of the world's highest standards of living.
The UAE was ranked eighth by the IMD study, a position attributed to its low unemployment, efficient government and strong social cohesion. Hischam El-Agamy, Executive Director at Swiss business school IMD, says: "Dubai has a lot of ingredients that are creating the Manhattan of the Middle East. The infrastructure is one of the best in the world." And he adds: "Dubai is amazing in the number of nationalities it has living and working in harmony. I don't think many places can compare."
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