Vienna is the city with the best quality of living in the world, while many Asian cities including Pune, are starting to emerge as important places of business for multinational companies, a survey said today.
According to a survey by global HR consultancy Mercer, cities beyond the traditional financial and business centres are working to improve their quality of living aiming to attract foreign companies.
"This year's survey recognises so-called 'second tier' or 'emerging' cites and points to a few examples from around the world. These cities have been investing massively in their infrastructure and attracting foreign direct investments by providing incentives such as tax, housing, or entry facilities," Mercer Senior Researcher Slagin Parakatil said.
Parakatil further added that emerging cities will become major players that traditional financial centres and capital cities will have to compete with.
Examples of such emerging cities are, Cheonan (98), South Korea, Pune (139), India, and the city of Xian (141), China.
"Over the past decades, Pune has developed into an education hub and home to IT, other high-tech industries and automobile manufacturing," the report said.
In the overall list, European cities enjoy a high overall quality of living than other regions. Vienna is the highest -ranking city globally. In Europe, it is followed by Zurich (2), Munich (4), Dusseldorf (6), and Frankfurt (7).
Besides, Vienna and Zurich, Auckland, Munich and Vancuver make the top five cities with the highest quality of living.
In the Asia-Pacific region, Singapore, ranked 25 on the list, has the best quality of living, followed by four Japanese cities-- Tokyo (43), Kobe (47), Yokohama (49), and Osaka (57) and Dushanbe (209).
"Asia has a bigger range of quality-of-living standard amongst its cities than any other region. For many cities, such as those in South Korea, the quality of living is continually improving. But for others, such as some in China, issues like pervasive poor air pollution are eroding their quality of living," Mercer Senior Researcher Slagin Parakatil said.
The annual survey covers 460 cities in the world and the ranks 223 of these cities. The survey helps multinational companies and other employers compensate employees fairly when placing them on international assignments.