Lagos illuminates the African Dream, ranks fifth most desirable city to live, work, invest
By Sodiq Adelakun
Lagos, the vibrant economic center of Nigeria, has recently gained recognition as the fifth most attractive African city for living, working, and investing, as stated in the Brand Finance City Index 2023 report.
The rankings were determined through a global survey conducted in April 2023, which involved nearly 15,000 participants from 20 countries across the world.
The survey aimed to gauge public perceptions of the top 100 cities worldwide.
In the African category, Lagos and Nairobi were ranked below Cape Town (South Africa), Cairo (Egypt), Johannesburg (South Africa), and Casablanca (Morocco).
Lagos secured the fifth position with a desirability rating of 56.7 per cent, while Nairobi followed closely behind with 55.1 per cent.
The survey revealed that Cape Town, with a desirability rating of 62.9 per cent, claimed the top spot as the most desirable African city.
Cairo, Johannesburg, and Casablanca followed closely behind with ratings of 60.7 per cent, 59.7 per cent, and 59.3 per cent respectively.On a global scale, London emerged as the world’s best city brand, scoring an impressive 84.6 per cent.
New York and Paris secured the second and third positions with ratings of 83.0 per cent and 79.7 per cent respectively. The recognition of Lagos as one of the top African cities reflects its growing prominence as a major economic and commercial center.
With a population of over 14 million people, Lagos offers a vibrant business environment and numerous investment opportunities.
The city is known for its thriving industries, including finance, technology, entertainment, and manufacturing.
Nairobi, the capital city of Kenya, also made its mark on the chart, securing the sixth position among African cities.
With a desirability rating of 55.1 per cent, Nairobi showcases its appeal as a regional hub for trade, finance, and innovation.
The city is home to numerous multinational corporations and boasts a dynamic entrepreneurial ecosystem. The Brand Finance City Index 2023 report highlights the importance of perception in shaping the desirability of cities.
Factors such as infrastructure, safety, economic opportunities, and quality of life contribute to the overall appeal of a city.
These rankings serve as a valuable tool for policymakers and urban planners to understand the strengths and weaknesses of their respective cities and work towards improving their desirability.
However, Lagos’ recognition as one of the top African cities with high desirability is a testament to the city’s ongoing efforts to enhance its infrastructure, promote business-friendly policies, and improve the overall quality of life for its residents.
The ranking serves as an encouragement for Lagos to continue its trajectory of growth and development.
As Africa continues to experience rapid urbanisation and economic growth, the desirability of its cities will play a crucial role in attracting investment, fostering innovation, and improving the overall standard of living.
The Brand Finance City Index 2023 report provides valuable insights into the perceptions of cities worldwide and serves as a benchmark for cities to strive for excellence.
