News
Busan recognized as one of the world's best cities
Citizens enjoy a happy 2024 in Haeundae.
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 urban growth and the factors that determine a city's desirability as a place to live in, visit and invest in. For nine years, the company has used this research to identify the urban centers that most significantly impact regional, national and global economies.
Resonance does this by analyzing statistics from over 400 global cities and user-generated reviews on digital channels such as Tripadvisor, Google, Facebook and Instagram. They then interpret this data through the lens of three key factors－Livability, Lovability and Prosperity－to define each city's Place Power Score.
Resonance acknowledges Busan's importance as a top travel destination and economic powerhouse. Dubbed the "Miami of South Korea," Busan is a "sought-after vacation spot for local and global travelers alike." The city is also emerging as a "bleisure" destination (business + leisure), thanks to its thriving convention center, world-class attractions and stunning beaches.
The consultancy also recognizes the Port of Busan as pivotal in linking Korea to "the Pacific Ocean and wider Asia region" and emphasizes its significance as the world's fourth-largest container port.
Busan's 67th 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 Busan-focused, user-generated content on the platform. The hashtags raised Busan's Lovability score, a metric that describes a city's vibrancy and ability to inspire residents, visitors and businesses to promote the city to the world.
Finally, the upcoming Oceanix floating city prototype, scheduled for completion by 2025, will further establish Busan as a noteworthy player on the world's stage.