New York is the world's most valuable city in 2021, with a brand value of $2.04 trillion, according to a report released by consulting agency Global City Lab on Dec 30, 2021.

London passed Tokyo to claim second place with a brand value of $1.90 trillion. Tokyo's value dropped 5.37 percent, putting it third with a value of $1.78 trillion. Paris, Singapore, and Sydney also saw brand values surpassing $1 trillion.

Shanghai and Hong Kong ranked 9th and 10th, respectively. The report found that blockchain and crypto are influencing the future of the city.

Global City Lab calculates brand values using six metrics: economic growth, culture, governance, environment, talent, and reputation. And it publishes the "Global Top 500 Cities" report annually.

The full list of top 10 is shown below: