Beyond smartcitiesCreating the most attractive cities for talented citizens

Abstract

In the current context of general economic stability and peace, cities have become the world’s key centers for human development. Without a clear leader in the 4th Industrial Revolution, cities are fiercely competing to attract talent. Investing in technology and innovation (SmartCities) is an essential and mandatory condition to draw that talent in, yet it is not sufficient alone. Choosing a city to live in is a complex decision, akin to making a major purchase, getting married, or signing a contract. So, the question arises: what makes a city attractive to talent? In this article, it is postulated that, as with every human decision, there is a compromise between two parties: the emotional component which we will call City Magnetism, and the rational component which we will call City Profitability. We study the world’s top 140 most attractive cities according to international studies in our custom model made up of more than 100 indicators. The objective is twofold: to help talented citizens evaluate cities in order to find which ones will best help them reach their potential; and to help mayors and city officials create the conditions that make their city as attractive as possible. It is not just a matter of technology or investment, identity, urban planning and social sustainability are determining factors too.