Whilst London remained the top ranked city in Europe and third overall behind New York and Tokyo, Bristol has punched considerably above its weight. In fact, the city has moved up the list by 50 places 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 Bristol.

Paul Tostevin, head of Savills World Research, comments: “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.”

Paddy Hales, head of Savills Bristol, adds: “What’s clear from the index is that Bristol punches well above its weight on a global stage. The city has a £15bn economy, thriving business sector, and one of the highest retention rates for graduates in the country. From an ESG perspective, Bristol’s ambitious net zero targets backed by £1bn of investment, is seeking to make the city carbon neutral and climate resilient by 2030. This, alongside two world renowned universities, has undoubtedly played a role in the city’s ongoing resilience.”