While London continues to lead in Europe and ranks third worldwide after New York and Tokyo, Bristol has seen significant progress. Illustrating a notable leap, Bristol has ascended 50 spots in the rankings since 2021.
In the United Kingdom, Savills assessed the resilience of cities considering multiple vital aspects: economic robustness, innovation and tech sectors, commitment to environmental, social, and governance (ESG) principles, and appeal to real estate investors. These criteria are important for ensuring the prosperity and quality of life for locals and those working in these cities while navigating the challenges of shifting economies, societal trends, environmental concerns, and technological advancements. They also matter more to investors and businesses considering expansion due to the growing significance of elements like ESG.
Although North American cities remain prevalent at the top of the index, with half of the top ten, smaller cities are also showing strong performance, especially those with populations below two million. Cities like Bristol, which are further down the list, have seen their rankings enhance due to commendable environmental policies, climate action goals, and progressive approaches to governance and inclusivity.
Paul Tostevin, Head of Savills World Research, states: “Despite facing a tough economic climate and a decline in real estate deals, cities with solid economic foundations continue to demonstrate resilience.”
Paddy Hales, Head of Savills Bristol, remarks: “Bristol’s reputation is of a city that defies expectations on a global level. Its economy is robust at £15 billion, the business sector is flourishing, and it has one of the highest rates of graduate retention in the UK. Bristol stands out not just for its educational institutions, but also for its ESG commitments, such as investing £1 billion towards achieving a net zero carbon footprint and greater climate resilience by 2030. These factors are essential to the city’s sustained resilience.”
