12 Biggest learnings on cities in 2023
What are the twelve biggest lessons from the Innovation Cities™ Index - very very soon to launch...
Yes, the final Innovation Cities™ Index 2022-2023 500 cities ranking is prepared, and almost ready to launch.
I know. I know. You are waiting. Soz.
Longest drum roll ever. Worth it. 100%.
Premium subscribers get notice 36 hours ahead! Founding innovators get all sorts of goodies!
Before we reveal this year’s winning cities, and big improvers here are 12 sections of intelligence for you - from the 22-23 city ranking.
(Yes, it’s a merged year as the ‘Covid effect’ is just settling now.)
These are some pretty big trends. Chance are because we compile this from city, not national, data these will run counter to what you hear from Goldman Sachs.
The first 3 insights are free below!
1) BIG CITIES BOUNCE BACK
The big cities like New York, Paris, London, Los Angeles etc are generally very resilient. Losses in one area of the city (and major business closures) are offset by new happening innovation in other city areas.
But for the first time, we are beginning to see and prove that large cities have their own ‘economic gravity’.
These cities can rarely be kept down. (Although there are some big cities trending down this year). And like them or not, these cities generally have recovered pretty fast.
The difference? Different suburbs! Different streets! Different industries!
Fascinating systems thinking.
HOW TO MEASURE IT – Growth rates in money and population may tell the story. Enterprise growth rates. What is a target rate for a city your size, and how are you doing? We have all the data. There are other metrics of course, and tricks for young players.
Of course - for free - rate of year-on-year change in our headline ranking is a pretty good way! Stick our new ranking in your data models!
TAKEAWAY – Diversification of your economic streams is key. Like stocks in a mutual fund. As one sector down-cycles, another sector up-cycles.
2) POST-COVID HUMAN INGENUITY
It’s the creatives and small businesses that revive cities.
Rarely (sometimes) does the ‘grand strategy’ work from the top level.
More often a grass roots strategy from small and growing businesses achieves success. In many cities small and mid-size companies are the biggest employment sector.
Central planning of enterprise has never ever worked. When it seems to, use there is some externality providing funding. Enterprises generally function better than central planning, except for some market failure areas.
HOW TO MEASURE IT – Ask about our enterprises per 100,000 population benchmarks and or other data. What should your targets for entrepreneurship be at council level? We can tell you.
TAKEAWAY - Low-rent areas can become the most exciting parts of cities. Small business will drive your recovery. Ingenuity lives in small and micro-business.
3) DIGITAL CITIES DO BETTER
Digitalisation continues apace.
Even in Germany where they still use faxes for medical details, digital records continue to grow. While privacy concerns remain, the technology is a growing part of lowering costs, speeding outcomes and generally driving efficiency.
Digital media becomes the new means of cost reduction and increased efficiency in some cases. When correctly applied.
HOW TO MEASURE IT – Ask about our ‘Digital Skills’ benchmarks or related areas like ‘eGovernment Readiness’. We can help you measure these areas, and your progress.
TAKEAWAY - Low-rent areas can become the most exciting parts of cities. Small business will drive your recovery. Ingenuity lives in small and micro-business.
Sadly, for you non-paid subscribers that’s where those insights end, and the paywall begins.
If you want to know insights like - which regions are doing well, how AI impacts this year’s rankings, and why culture may be your way to overcome ‘post-lockdown’ blues.
Then we invite you to become a privileged paid subscriber.