Whilst London remained the top-ranked city in Europe and third overall behind New York and Tokyo, the latest Resilient Cities Index from Savills sees both Scottish cities punch considerably above their weight. In fact, Glasgow moved up the list by 12 places and Edinburgh by 9 since 2021.

Savills top-ranking UK cities were judged using metrics around four core areas: economic strength, knowledge economy and technology, ESG, and real estate investment. In turn, it supports the wellbeing and success of its residents and workers against the backdrop of economic, social, environmental and technological change, and is attractive to real estate investors and occupiers, particularly as investment and business expansion criteria encompasses a wider range of factors, including ESG.

Although North American cities continue to dominate the index, taking five of the top 10 spots, Savills has seen smaller cities (those with a population under two million) perform well. Whilst appearing further down the rankings, strong environmental credentials, ambitious climate targets and good governance and inclusivity has boosted cities such as Edinburgh and Glasgow in the overall list.

Paul Tostevin, head of Savills World Research, said: “The backdrop to this year’s Index is a challenging economic environment and limited real estate transactions, but overall there remains a strong correlation between economic fundamentals and a city’s resilience.”

Nick Penny, head of Savills Scotland, added: “What’s clear from the index is that Scotland punches well above its weight on a global stage. Despite their size, both cities continue to attract significant international investment, with overseas money accounting for almost 46% of all Scottish transactions in 2023.

“From an ESG perspective, Scotland’s ambitious net zero targets has seen Glasgow implement its Low Emission Zone, a long with other key initiatives to boost its environmental credentials. This, alongside two world renowned universities, has undoubtedly played a role in both cities’ ongoing resilience.”