U.K. Report: Dallas Is One of the World's 10 Most Resilient Cities

U.K. Report: Dallas Is One of the World’s 10 Most Resilient Cities

The 2022 London-based Savills Resilient Cities Index ranks 500 global cities. The Dallas region jumped up 11 spots on the list since 2016, thanks to its many assets and its recovery from the worst of the pandemic. Dallas' highest ranking on the list is in real estate investment, where it placed No. 3, behind only Los Angeles and New York City.

The Dallas region’s many assets and its recovery from the worst of the pandemic have earned it the title of one of the most resilient cities on earth.

Beating out major global hubs like Paris, Singapore, and Shanghai, Dallas has been named the 10th most resilient city out of a list of 500 others on the newest Savills Resilient Cities Index.

Dallas’ strength is in real estate investment

While Dallas has hovered around the No. 10 spot for the past few years, the city has jumped up 11 spots on the list since 2016. That follows a trend the London-based real estate services firm notes of mid-sized U.S. cities with fast-growing economies and lower costs of living moving up in the rankings. Those include places like Atlanta (No. 9), Houston (No. 17), and Phoenix (No. 20). According to the data, Dallas made one of the largest jumps in the rankings of any city since 2016.

Among the metrics Savills explored to determine its rankings, Dallas’ highest ranking was in real estate investment. It took the No. 3 spot, placing it behind only Los Angeles and New York City.

According to the report, 2022 saw the highest global annual rental growth since 2014.

Other metrics Savills looked at include a city’s economic strength, its environmental, social, and governance practices, and its knowledge and technology economy, which it defines as “high value-add employment with venture capital funding.”

“The human preference for the city has scarcely waivered, but preferences about what type of city is most desirable are changing,” the report states. “Cities that host high-tech industries are attracting people and capital.”

The top three most resilient cities changed little between 2016 and 2022, with New York and London taking the No. 1 and No. 2 spots, respectively, and Los Angeles moving from No. 4 to take Tokyo’s No. 3 spot.

Walkability and sustainability are keys to the future

Over the past few months, Dallas Innovates has spoken to a number of business leaders who have relocated or expanded operations in North Texas, with many citing the region’s geographic and time zone centrality, relatively low cost of living, proximity to transportation infrastructure, and talent pool bolstered by the local university ecosystem as draws for their companies.

In its 2022 index, Savills put a heavy emphasis on a city’s ability to navigate the challenges of the pandemic. Looking ahead, it points to the impact of the war in Ukraine on commodity prices and living costs as new challenges. It also notes that cities that prioritize health and wellness by increasing things like walkability and lowering pollution will fare better than others in the future.

“In times of heightened uncertainty, the resilience of cities will again be tested,” the report states. “The search for wellness is strongly linked with meeting the challenges of climate change, so cities that do well in one of these factors will likely do well in both.”