World cities *AS*

World Cities

The concept of World Cities came about in 1915 and was defined as places in which a disproportionate amount of the world’s business is conducted. By the 1980’s World Cities were financial/commercial centres rather than industrial centres. The Large World cities include: London, New York and Tokyo.  Complex high-tech links between these major centres enable them to dominate business of a worldwide scale.

Economic characteristics

Ø  Corporate Headquarters for multinational corporations, international financial institutions, conglomerate and stock exchanges that have influence over the world economy.

Ø  Significant financial capacity/output

Ø  Market capitalisation

Ø  Major banks

Ø  Cost of living

Ø  Personal wealth e.g. number of billionaires

Political characteristics

Ø  Active influence on and participation in international events and world affairs

Ø  Hosting headquarters for international organizations such as World Banks, UN and NATO. 

Ø  A large population (usually over 7 million)

Ø  Diverse demographic constituencies based on various indicators: population, habitat, mobility, and urbanisation.

Ø  Quality of life standards

Cultural characteristics

Ø  International familiarity

Ø  Renowned cultural institutions (often with high endowments) such as notable museums, galleries, orchestras and theatres.  A lively cultural scene, parades and street performances feature in the city.

Ø  Several influential media outlets with an international reach

Ø  A strong sporting community, including major sports facilities, home teams in major league sports, and the ability and historical experience to host international sporting events such as the Olympics.

Ø  Renowned universities, international student attendance, research facilities

Ø  Sites of pilgrimage

Ø  Cities containing World Heritage Sites of historical and cultural significance

Ø  Tourism throughout

Ø  City as site or subject in arts and media, television, film, video games, music, literature, magazines, articles, documentary

Ø  City as an often repeated historic references

Infrastructural characteristics

Ø  An advanced transportation system that includes several highways and a large mass transit network offering multiple modes of transit. 

Ø  Major sea port and established rail networks

Ø  A major international airports that are hubs for major airlines and Cargo planes

Ø  An advanced communications infrastructure on which modern corporations rely on, such as fiberoptics, Wi-Fi, Cell phone services, and other high-speed lines of communications.

Ø  Health facilities; e.g., hospitals, medical laboratories

Ø  Prominent skylines/skyscrapers

Ø  Cities' telephone and mail services, airport flights-range, traffic congestion, availability of water, train facilities, nearby parks, hospitals, libraries, police stations, etc.

A World City: New York

·      Divided to five Boroughs: Manhattan, Bronx, Queens, Brooklyn and Staten Island.

·      Current population of 8.2 million

·      37% are born overseas in NYC

·      Population expected to increase to 17.5 million in 2015

·      1700 schools

·      NYC has an estimated $1.28 trillion Gross Metropolitan Product

·      Only 55% of households own a car

·      Holds many attractions such as Central Park, the Empire State Building, Times Square, the Statue of Liberty and the American Museum of Natural History.

·      Average household income is $75,809 per year in NYC, however 18.5% live in ‘poverty’.