Developed by T.G McGee. 10: Chicago, Frankfurt, Hong Kong, Los Angeles, Milan, Singapore, 9: San Francisco, Sydney, Toronto, Zurich, 8: Brussels, Madrid, Mexico City, Sao Paulo, 6: Amsterdam, Boston, Caracas, Dallas, Düsseldorf, Geneva, Houston, Jakarta, Johannesburg, Melbourne, Osaka, Prague, Santiago, Taipei, Washington, 5: Bangkok, Beijing, Montreal, Rome, Stockholm, Warsaw, 4: Atlanta, Barcelona, Berlin, Budapest, Buenos Aires, Copenhagen, Hamburg, Istanbul, Kuala Lumpur, Manila, Miami, Minneapolis, Munich, Shanghai, 3: Athens, Auckland, Dublin, Helsinki, Luxembourg, Lyon, Mumbai, New Delhi, Philadelphia, Rio de Janeiro, Tel Aviv, Vienna, 2: Abu Dhabi, Almaty, Birmingham, Bogota, Bratislava, Brisbane, Bucharest, Cairo, Cleveland, Cologne, Detroit, Dubai, Ho Chi Minh City, Kiev, Lima, Lisbon, Manchester, Montevideo, Oslo, Riyadh, Rotterdam, Seattle, Stuttgart, The Hague, Vancouver, 1: Adelaide, Antwerp, Arhus, Baltimore, Bangalore, Bologna, Brasilia, Calgary, Cape Town, Colombo, Columbus, Dresden, Edinburgh, Genoa, Glasgow, Gothenburg, Guangzhou, Hanoi, Kansas City, Leeds, Lille, Marseille, Richmond, St Petersburg, Tashkent, Tehran, Tijuana, Turin, Utrecht, Wellington. Europe entered the Middle Ages after Rome fell. This practice is increasing housing values, tax revenue, and the averge household income of the neighborhood. NOTE: For new classifications for 2000, 2004 and 2008, based on more sophisticated relational measures, see The World According to GaWC. The list is also available in alphabetic order and (for alpha, beta and gamma world cities) as interactive map. In order to determine the location of each central place, Christaller had to define the goods and services provided. The assumptions of an ideal place proposed by Walter Christaller were: The surface of the region would be flat. For example, a gold ETF will show a low β and R-squared in relation to a benchmark equity index, as gold is negatively correlated with equities. The interrelationship between urbanization and irrigation in this region distinguishes it from other urban hearths. S&P 500 Index), Calculate the weekly returns of the stock, Calculate the weekly returns of the market index, Use the Slope function and select the weekly returns of the market and the stock, each as their own series, Congrats! The city of San Francisco topped the Global Cities Outlook Index ahead of New York, Paris, London, and Boston respectively. It compares the risk of an unlevered company to the risk of the market. It includes business risk but does not include leverage risk. In this world then, a global city is a significant production point of specialized financial and producer services that make the globalized economy run. An adjacent region within which its influence is dominant. Below is an Excel β calculator that you can download and use to calculate β on your own. When you look up a company’s beta on Bloomberg, the default number you see is levered, and it reflects the debt of that company. Urbanization continued vigorously outside of Europe. Proposes that the city grows outward from the center. Before the automobile era, cities were built in walking-distances; there was less development. These types of multiples can be categorized as equity multiples and enterprise value multiples. Spaces normally deemed public are now being privatized, such as parks, neighborhood centers, and shopping districts. Rome had the largest urban system; there was extensive transportation. The elite residential sector is on the extension of the CBD in the "spine". There are also beta cities such as San Francisco, Singapore, Beijing, and Brussels, which play an important role in the global community but lack the power of their alpha brethren. Proposes that the population of a city or town is inversely proportional to its rank in the hierarchy. It is used as a measure of risk and is an integral part of the Capital Asset Pricing Model (CAPMCapital Asset Pricing Model (CAPM)The Capital Asset Pricing Model (CAPM) is a model that describes the relationship between expected return and risk of a security. For example, a high-risk technology company with a β of 1.75 would have returned 175% of what the market return in a given period (typically measured weekly).Low β – A company with a β that’s lower than 1 is less volatile than the whole market. Ethnic neighborhoods in Europe have many migrants from other colonies. Ethnic neighborhoods in the global periphery and Semiperiphery city. There is a sharp contrast between the wealthy and the poor. Then, the realtor would persuade the white residents to move because they're neighborhood was going downhill because an African American person or family had moved in.