London, New York and Tokyo are leading once again in the top three, Singapore beats Hong Kong and Shanghai rises strongly.

The worldwide Centers of Commerce index is an innovative research program designed to identify and rank the world's leading cities and explore their role in driving global commerce.

Developed by a world-renowned panel comprised of a group of experts in economics, sociology and urban studies and chaired by Dr. Michael Goldberg on behalf of MasterCard Worldwide, this Index examines the compelling global and regional economic trends that distinguish Centers of Commerce from other cities around the world.

MasterCard developed the Centers of Commerce Index after recognizing a notable milestone in global urbanization: In 2006, for the first time in human history, more people lived in cities and towns than in the rural countryside.

In fact, a recent listing of the world's urban centers indicates that there are 161 urban regions containing 2.5 million or more people¹ —together encompassing a population larger than that of 97 of the world's countries. Another study highlights 707 urban agglomerations with 500,000 or more people.²

A closer look at major cities reveals that the diversity, scale, scope and reach of their economies far exceed what would be expected from size alone. A majority of these urban areas are truly "global cities,"³ serving as critical links in a network that directs commerce and finance across the globe.

Together, these trends, insights and statistics called for a new method of understanding how global cities connect markets and impact the world economy. This knowledge is particularly important for companies seeking to expand their global presence.

To read the full research papers with charts, please follow the link below:

www.mastercard.com/us/company/en/insights/pdfs/2008/MCWW_WCoC-Report_2008.pdf 

Notes:

¹. These data come from Thomas Brinkhoff, City Population, citypopulation.de, 2008.
². Demographia, World Urban Areas: World Agglomerations (Belleville, IL: Demographia), March 2007, pages 9-30; includes all urban agglomerations above 500,000 people and smaller urban areas in some countries so the list comprises 1,302 urban areas. demographia.com.
³. See S. Sassen, 2001. The Global City. Princeton and Oxford: Princeton University Press.