Business · Economy · 16 hrs ago
Seoul falls to 38th in global city ranking as economic outlook weakens
Seoul fell 23 places to 38th in Oxford Economics’ 2026 ranking of 1,000 cities.
The index assesses cities across five areas, including the economy, quality of life and environment, and New York ranked first for the second year running.
Seoul’s economic ranking fell from 18th to 62nd, partly because the index factors in five-year forecasts for growth, jobs and population.
Oxford Economics says an ageing population could limit growth and job creation, despite Seoul’s large economy and diverse industries.
Seoul also ranked relatively low for quality of life and the environment, with high housing costs, air quality and extreme weather cited as concerns.
Oxford Economics expects Seoul’s overall ranking could fall further, and forecasts its economy will rank 11th globally by 2050, though it cautions that ranking changes can reflect changes in methodology rather than real-world performance.
Seoul ranked 38th among 1,000 cities in Oxford Economics’ 2026 Global Cities Index, down 23 places from the previous year.
Its economic ranking fell 44 places, from 18th to 62nd, amid weaker growth and employment prospects linked to an ageing population.
The index also placed Seoul 15th for human capital, 113th for quality of life, 618th for environment and 125th for governance.
Oxford Economics said its ranking changes may reflect changes in methodology rather than actual improvement or decline.
New York ranked first, followed by London and Paris.
- Who
- Seoul and Oxford Economics, which compiled the index.
- What
- Seoul fell to 38th in the 2026 Global Cities Index, down from 15th.
- When
- The index was released in October 2026. The report was covered on October 31.
- Where
- Seoul, assessed as a functional urban area that includes nearby metropolitan areas such as Incheon and Suwon.
- Why
- Oxford Economics attributed the drop chiefly to weaker economic prospects, with ageing and population decline weighing on expected growth and employment.
This story does not have two clearly opposing sides.
Seoul ranked 15th overall and 18th in the economic category.
Oxford Economics released its 2026 Global Cities Index, placing Seoul 38th overall and 62nd in the economic category.
Maeil Business reported the ranking and its factors.
- Overall rank
- 38th of 1,000 cities
- Year-on-year change
- Down 23 places from 15th
- Economic rank
- 62nd, down from 18th
- Top-ranked city
- New York
- Quality-of-life rank
- 113th
- Environmental rank
- 618th
What people are saying
Seoul is likely to gradually lose more places among the top-ranked cities in the overall index.
As with Tokyo, an ageing population is undermining its ability to compete with emerging economies in terms of production and job growth.
Changes in rankings may reflect changes in methodology rather than improvements or deterioration in actual performance.