London is officially the second-best city in the world

Here at Time Out London we are, obviously, pretty big fans of the city, naming it the planet’s fourth-best place to live or visit in 2026. But don’t just take our word for it. The Big Smoke has just been ranked the second greatest city in the world in another report: Oxford Economics’ Global Cities Index.

What qualities might you look for in the best city in the world? Maybe you’re drawn to London’s restaurant culture, sprawling music scene or masses of world-class museums and galleries. Oxford Economics’ Global Cities Index looks at other factors which are fundamental to making a city liveable, focusing on things like job opportunities, quality of life and the environment. Every year the index crunches the numbers of the world’s 1,000 biggest cities on practical data points like political stability, GDP, health and ecological factors.

Twenty places in the UK made the final list of the best 200 cities in the world right now. Just like last year, London came in at second just behind New York and ahead of Paris. We’ll take that.

In the report, the Oxford Economics said: ‘London remains one of the clearest examples of a truly global city. Its influence extends across business, science and technology, education, and the arts, giving it a reach that few other cities can equal.’

The report said London remains at the top of the list largely due to its large economy and strong labour market. It is second in the world for ‘human capital’, with its sheer number of universities and highly skilled workforce giving it an economically competitive edge. 

But when it came to quality of life, London slipped down the rankings to 147th on the list – mostly due to the high cost of living, including spiralling rents and house prices. None of which will come as a surprise to anyone living here.

Costs aside, London still has a lot of good things going for it. In Time Out’s list of the best cities in the world, London editor Joe Mackertich said: ‘London’s great because it’s still, objectively, the most London-y city in the world. You’d struggle to find a place more varied, idiosyncratic and exciting anywhere on earth.’

Read where every major British city ranked in the 2026 Global Cities Index.

Get the latest and greatest from the Big Smoke – from news and reviews to events and trends. Just follow our Time Out London WhatsApp channel. 

Stay in the loop: sign up for our free Time Out London newsletter for the best of the city, straight to your inbox.