Inclusive cities. Dynamic economies. Better lives.

The 2022 Open for Business City Ratings

Exploring the cities shaping a more inclusive and resilient future.

Where are the best cities to live, work, and thrive? The Open for Business City Ratings answer that question by ranking 145 cities based on inclusivity, competitiveness, and openness to opportunity. First launched in 2018 and updated in 2020, this latest edition delivers fresh insights, consolidating key data to give you a comprehensive guide to which cities are setting the global standard—and which have room to grow. Explore the third edition of the City Ratings to see how your city ranks and what makes these urban hubs the true powerhouses of progress.

Copenhagen AAA

London AAA

Cairo D

Panama City C

Athens B

Stockholm AAA

Hanoi DDD

Milan BB

Amsterdam AAA

Hong Kong BBB

Cape Town CCC

Nairobi DD

Prague BB

Melbourne AA

Mexico City CCC

Seoul BB

Toronto AAA

Kiev DDD

Boston AAA

Vancouver AA

Kuala Lumpur CC

Houston A

Barcelona A

Buenos Aires B

Lima C

Lisbon BBB

Copenhagen AAA London AAA Cairo D Panama City C Athens B Stockholm AAA Hanoi DDD Milan BB Amsterdam AAA Hong Kong BBB Cape Town CCC Nairobi DD Prague BB Melbourne AA Mexico City CCC Seoul BB Toronto AAA Kiev DDD Boston AAA Vancouver AA Kuala Lumpur CC Houston A Barcelona A Buenos Aires B Lima C Lisbon BBB

Amsterdam ranked as 2022’s number one city for inclusivity and business

I am proud that Amsterdam is the highest rated city in the Open For Business City Ratings 2020. One aspect that sets cities like Amsterdam apart from others is its dedication to providing a welcoming and inclusive atmosphere for everyone, regardless of national origin, religion, sex, race, creed – or, indeed, sexual orientation and gender identity or expression. The evidence in this report shows that this dedication to inclusion goes hand-in-hand with economic resilience and competitiveness in cities around the world. I am looking forward to continuing to work to ensure that Amsterdam remains inclusive and competitive and is a place where all people can live and work freely and openly.

Femke Halsema, Mayor of Amsterdam

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Key research highlights

In an era of global economic uncertainty, AAA-rated cities like Copenhagen, Stockholm, and Zurich demonstrate remarkable stability, maintaining their top-tier ratings despite worldwide market volatility. These cities combine progressive social policies with robust economic frameworks, creating resilient urban environments that continue to attract investment and talent even during turbulent times.

The stability of these cities stems from their diverse economic bases, with places like Amsterdam and London maintaining AAA ratings through strong financial services, technology sectors, and creative industries, despite challenges like Brexit. What's particularly noteworthy is that these cities achieve their stability through openness and adaptability rather than conservative policies, suggesting that progressive urban approaches and inclusive policies serve as more effective stabilizing forces than traditional economic protections.

AAA-rated cities like London, Toronto, and Sydney demonstrate an unmistakable pattern in their ability to attract and retain top talent through inclusive policies, creating a self-reinforcing cycle where diversity strengthens their knowledge economies and professional environments. The contrast becomes particularly stark when comparing these inclusive leaders with cities that maintain restrictive social policies, as places like Dubai and Shanghai often struggle to build lasting talent pools despite offering competitive salaries and tax advantages.

Even smaller but highly inclusive cities like Copenhagen, Stockholm, and Amsterdam punch above their weight in Human Capital ratings, often outperforming larger but less inclusive cities, suggesting that in the global competition for talent, a city's social environment might matter more than its size or traditional economic might.

AAA-rated cities, particularly those in Northern Europe and North America, demonstrate a compelling link between inclusivity and innovation, with places like San Francisco, London, and Copenhagen showing how welcoming environments for diverse populations catalyze technological advancement and creative industry growth. This pattern holds true across different regions and city sizes, with even relatively smaller inclusive cities like Amsterdam and Dublin outperforming many larger but less inclusive cities in innovation metrics.

The innovation premium of inclusive cities manifests through stronger entrepreneurship ratings and more vibrant startup ecosystems, as exemplified by places like Stockholm and Toronto, where diversity of thought and experience leads to greater creativity and risk-taking. Meanwhile, cities with lower inclusivity ratings often struggle to develop sustainable innovation ecosystems, despite significant investment in technical infrastructure and business incentives.

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Meet the Authors behind the Open for Business City Ratings

BEHIND THE INSIGHTS

Jon Miller

Founder, Chair and Executive Editor, Open for Business

Jasper Linke

Senior Data Analyst

Chief Executive Officer, Open for Business

Fernando Alonso Pérez-Chao

Director of Global Engagement, Open for Business

Dominic Arnall

- Suen Yiu Tung • Founding Director of Sexualities Research Program, Chinese University of Hong Kong
  Assistant Professor of Gender Studies; Author of studies on LGBT+ issues in Asia, including business and workplace contexts
- Dr. Vivienne Ming • Cognitive Neuroscience Faculty Member of Singularity University, Co-Founder of Socos Lab
- Matteo Winkler •Professor of Law, HEC Paris
- Paul Jansen • Senior Advisory for Global Advocacy, OutRight Action International
- Pawel Adrjan • Economist, Indeed
  Research Fellow at Regent’s Park College, University of Oxford; Economist with international experience in the finance and technology sectors; Researches global labour market trends.
- Paul Donovan • Chief Economist, UBS Wealth Management
- Yvette Burton • Senior Client Partner, Korn Ferry; Adjunct Professor, New York University
- Drew Keller • Harvard University

- Oxford Economics

- Stephanie Galera • Head of Southeast Asia, Open for Business
- Amarildo Fecanji • Project Management Consultant, Open for Business
- Akudo Oguaghamba • Executive Director, Women's Health and Equal Rights Initiative, FCT Abuja, Nigeria
- Srini Ramaswamy • Co-Founder: Price Circle, Rainbow Bazaar & Fameworks Entertainment
- Reyanna Sankar • Caribbean Lead, Open for Business
- Prof. Suen Yiu Tung • Dphil The Chinese University of Hong Kong
- Erasmo E. Sánchez Herrera • Vice President, Global Division, National LGBT Chamber of Commerce (USA)
- Jasper Linke • Senior Data Analyst
- Matt Horwood • Director of Communications, Open for Business

Forewords

We are proud to have supported the Open For Business City Ratings since 2018. Beyond strengthening this economic case, the 2022 City Ratings provide an invaluable resource for businesses hoping to use their platform to advance LGBTQ+ equality globally.

Christie Smith

Global Lead, Talent & Organization • Accenture

The role of business has changed. Society now expects companies to create value for all of their stakeholders, rather than just its shareholders. While this expectation has been changing over the past decade, the inequities that the pandemic laid bare in our societies made it clear that this changing role of business is here to stay.

At Accenture, we know that our commitment to inclusion, diversity and equality creates an environment that unleashes innovation, allows our people to perform at their very best and underpins a culture in which everyone feels they have an equal opportunity to belong, advance and thrive. It has far reaching benefits as part of the 360° value we create for our clients, one another, shareholders, partners, and communities.

The 2022 Open For Business City Ratings is a key contribution to advancing inclusion, diversity and equality in the cities we live and work. This report shows the strong link between LGBTQ+ inclusion and economic competitiveness at the city level, all around the world. Higher levels of LGBTQ+ inclusion go hand-in-hand with innovation, talent attraction, and quality of life, all of which are key factors in a city’s long-term economic competitiveness. We are proud to have supported the Open For Business City Ratings since 2018.

Beyond strengthening this economic case, the 2022 City Ratings provide an invaluable resource for businesses hoping to use their platform to advance LGBTQ+ equality globally. These ratings can help inform where LGBTQ+ workers may need additional support to feel included and where companies should focus their public efforts to advance LGBTQ+ equality. It is an essential resource for companies like Accenture that operate globally.

While this year’s City Ratings paint a picture of a world that is becoming less open for business, there are also bright spots in every region – cities that continue to show they are beacons for LGBTQ+ inclusion. Cities partnering with companies like Accenture can light a path toward LGBTQ+ equality, even in the face of adversity in certain parts of the world.

We are thrilled to share the 2022 City Ratings with the world and look forward to creating a world that is more prosperous, inclusive, and equal for everyone.

Christie Smith

Global Lead, Talent & Organization • Accenture

The message of this report is clear: cities that are LGBTQ+ inclusive are more economically dynamic, more entrepreneurial, more innovative cities. All of us can play a role in advancing equality, in creating inclusive economies where everyone can prosper.

Jon Miller

Founder and Board Chair • Open for Business

This report is a call to action. Many more cities have slipped down the Ratings than have risen. This is true in every region: cities are becoming less open for business. Not a single city improved its ratings in Eastern Europe and North America. There are some positives: it’s encouraging to see some cities becoming more inclusive and competitive in Africa, in Asia, in Latin America and the Caribbean. But overall, it’s a story of backsliding

This means that there are millions of people around the world who feel less safe, who face more discrimination, harassment and violence, because of their sexual orientation or gender identity. This is a real human cost – and our research shows that there is a real economic cost, too.

Cities that are less open for business are also less economically resilient, according to our data. It tells us that inclusion of a city’s most vulnerable citizens is important for building resilience. And as cities around the world are weathering the economic shocks from the pandemic and now the war in Ukraine, city’s LGBTQ+ inclusion record can provide clues of how likely it is that a its economy will bounce back.

Since we launched the Open For Business City Ratings in 2018, companies have been using the data to inform their strategies – helping decisions on location, supporting with global mobility, and shaping global DEI strategies. Companies want to do business in cities which are inclusive and competitive – and these Ratings can help.

If you’re reading this report, you’re not powerless. Perhaps you’re in a global company, or in a local business. Maybe you’re an activist. You might be a city policymaker. All of us can play a role in advancing equality, in creating inclusive economies where everyone can prosper. If you’d like to find out more about our work and get involved – we’d love to hear from you.