The Mother City has risen 20 places in the latest Schroders Global Cities Index, which ranks cities according to their environmental impact, the quality of educational institutions, economic performance and transport systems. The index identifies the ‘best and brightest global cities, to provide investors with a view of where some of the biggest global real estate opportunities lie’.
Cape Town’s upward move to number 438 out of around 900 cities is largely due to a significant increase in its innovation score (from 4.3 to 5.3) – which, according to Schroders, is linked to the quality of educational institutions.
‘The COVID-19 crisis has had a profound impact on global cities,’ says Hugo Machin, portfolio manager and Global Cities co-head at Schroders. ‘When the global pandemic subsides, cities will remain centres of innovation and entertainment. The best cities will continue to evolve, encouraging the development of open space and greener buildings.’