The Miami of South Korea
Resonance Consultancy, an international consulting firm specializing in destination, economic and urban development, ranked Busan 67th among 270 cities in the World’s Best Cities 2024 rankings.
The rankings reflect Resonance’s extensive research on the key trends that propel cities’ growth and the factors that determine a city’s desirability as a place to live in, visit and invest in. The rankings have identified the top 100 most significant global cities for nine years.
Resonance combines core statistics from 400 global cities and user-generated ratings and reviews on digital platforms. They then interpret this data through the lens of three key factors—Livability, Lovability and Prosperity—along with 24 sub-indices, including Walk Score, Instagram Hashtags and Poverty Rate.
Starting this year, the company used a combination of core statistics and qualitative evaluations and recommendations by locals and visitors in digital channels such as Tripadvisor, Google, Facebook and Instagram to determine the Top 100. This year’s top three cities are London, Paris and New York. Among cities in Korea, Seoul landed in the top 10, while Busan’s 67th ranking is its first appearance in the top 100.
Dubbed the “Miami of South Korea” and “South Korea’s summer capital,” Busan’s ranking is driven by having the world’s 8th best Poverty Rate, which measures the percentage of the population living below the national poverty line. In addition, Busan ranked 34th in Instagram Hashtags based on the number of user-generated stories, references and recommendations shared on the social media platform. The 34th place ranking is a testament to Busan’s Lovability. This metric describes a city’s vibrancy and ability to inspire residents, visitors, and businesses to promote the city to the world.
* World’s Best Cities Report
Every year, Resonance Consultancy analyzes 270+ global cities (principal cities of metropolitan areas with populations of more than one million) based on three main categories: Livability, Lovability and Prosperity. The company also publishes America’s 100 Best Cities and Europe's 100 Best Cities.