The concept of World Cities came about in 1915 and was defined as places in which a disproportionate amount of the world's business is conducted. By the 1980's World Cities were financial/commercial centres rather than industrial centres. The Large World cities include: London, New York and Tokyo. Complex high-tech links between these major centres enable them to dominate business of a worldwide scale.
➢ Corporate Headquarters for multinational corporations, international financial institutions, conglomerate and stock exchanges that have influence over the world economy.
➢ Significant financial capacity/output
➢ Market capitalisation
➢ Major banks
➢ Cost of living
➢ Personal wealth e.g. number of billionaires
➢ Active influence on and participation in international events and world affairs
➢ Hosting headquarters for international organizations such as World Banks, UN and NATO.
➢ A large population (usually over 7 million)
➢ Diverse demographic constituencies based on various indicators: population, habitat, mobility, and urbanisation.
➢ Quality of life standards
➢ International familiarity
➢ Renowned cultural institutions (often with high endowments) such as notable museums, galleries, orchestras and theatres. A lively cultural scene, parades and street performances feature in the city.
➢ Several influential media outlets with an international reach
➢ A strong sporting community, including major sports facilities, home teams in major league sports, and the ability and historical experience to host international sporting events such as the Olympics.
➢ Renowned universities, international student attendance, research facilities
➢ Sites of pilgrimage
➢ Cities containing World Heritage Sites of historical and cultural significance
➢ Tourism throughout
➢ City as site or subject in arts and media, television, film, video games, music, literature, magazines, articles, documentary
➢ City as an often repeated historic references
➢ An advanced transportation system that includes several highways and a large mass transit network offering multiple modes of transit.
➢ Major sea port and established rail networks
➢ A major international airports that are hubs for major airlines and Cargo planes
➢ An advanced communications infrastructure on which modern corporations rely on, such as fiberoptics, Wi-Fi, Cell phone services, and other high-speed lines of communications.
➢ Health facilities; e.g., hospitals, medical laboratories
➢ Prominent skylines/skyscrapers
➢ Cities' telephone and mail services, airport flights-range, traffic congestion, availability of water, train facilities, nearby parks, hospitals, libraries, police stations, etc.