Only 3 European cities make Schroders top 30

Only London, Madrid and Paris made it into a top-30 cities ranking by fund manager Schroders, based on projected economic growth.

Beijing (pictured) came top of the Schroders Global Cities 30, which the firm’s property investment arm launched earlier this year and has now updated.

London climbed two places to come in 8th. The city – which is expected to exit from the EU following the Brexit vote – is still expected to thrive.

Paris came in at 12 and Madrid came in at 28 in the ranking which uses criteria such as workers’ skill levels, and quality of universities and infrastructure to project growth in the economies and disposable incomes in the cities over the next decade.

Hugo Machin, co-head of global real estate securities, said: “Chinese cities continue to grow at a rapid rate as the country industrialises. GDP and retail sales are growing quickly. The only one of the five factors that holds these cities back is disposable income but the rate of growth there is strong even if the absolute number is below peers.”

He added: “London has seen a small increase in the index. It still remains one of our favourite cities due to its highly skilled workforce, large tourist demand and cultural appeal and we believe it will continue to thrive.”

See the full list below:

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