The global convention industry consulting firm has published its fourth annual destination competitive index that ranks the world’s top cities in terms of key draw factors for meeting planners.
Main purpose of the Index said the head of GainingEdge Analysis & Research Mr. Milos Milovanovic, is to develop methodologies and quantitative tools for destination comparison which can help users, speed up their post-covid recovery.
This year’s report continues to utilise two powerful benchmarking approaches of fair share analysis of a destination’s business levels and ratio analysis meant to help destinations focus in on their most important competitive issues based on the cities with which, they are most frequently contending for.
Cities to Watch
Paris tops the list as in 2020 with Singapore taking the Asia-Pacific crown and New York leading America.
This year, the report selected six cities that best show what can be achieved by different combinations of product, and a focus on the international meetings market.
Beijing jumped from 7th to 4th place globally and took second position in Asia. Its fast recovery, growing competitiveness and being in the global top five for available intellectual capital indicates great potential for further improvement in future years.
Istanbul after a historical best in 2015, Istanbul’s position declined due
to political instability and related challenges. However, it boasts excellent destination products and jumped to 9th place globally and 4th in Europe in the Index. Since 2017, Istanbul has been on a path to recovery albeit slowed by covid-10 and this is expected to continue.
Moscow – Eastern European cities are relatively less competitive compared to Western European cities but, Moscow is an exception as a global hub with excellent accessibility and infrastructure. Moscow has many local intellectual leaders who can help bring events, however the city has yet to leverage this competitive advantage well.
Budapest is in ICCA’s Top 30 and sits at 61st place overall in the Index, and at 29th in Europe. Although meeting numbers have declined, Budapest still achieved results above its competitiveness score. It has a bright future if it can activate its competitiveness in a strategic way.
Florence best known as a beautiful city, with a strong leisure segment. Florence improved its competitive position to 47th place globally and 21st in Europe. Ranked 88th by ICCA this gap nonetheless indicates solid potential for growth if the city, leverages its key competitive advantages.
Ghent well-known as a European university town. Ghent is relatively less competitive when compared to larger capital cities. However, continuous good results show Ghent has strong collaboration with its local academic community, and is very effective at, harnessing its intellectual capital – the key source of its success.