LA Could Soon Become A Top-Tier Global City
Los Angeles' reputation as a hub for technology, media and entertainment, its strong real estate market and the city's commitment to improve infrastructure have the city poised to become one of the world's top cities, according to a new report from JLL and The Business of Cities. The "Big Seven" world cities, based on about 300 factors, are London, New York, Tokyo, Paris, Hong Kong, Singapore and Seoul. Among this year's "contenders" — those cities that are starting to hold their own against the Big Seven — are LA, Chicago, San Francisco, Toronto and Washington, D.C. LA, despite some challenges, is closest to joining the world's top cities due to its scale, appeal and global specialization, the report notes. The city gets points for being among the world's top five real estate investment destinations. LA did not do well for sprawl, pollution and infrastructure due to long commute times and congestion. But the commitment to infrastructure improvements ahead of the 2028 Summer Olympics helps the city's outlook improve. The city has promoted transit-oriented development, with voters passing Measure M in November.