The Index assessed and ranked 134 major cities around the world based on 42 criteria, in particular the ability to accept changes in technology and innovation, rapid population growth, and the strengthening of international relations.

The criteria are divided into three sectors to reflect the strength of short-term changes and long-term economic strengths.

Ho Chi Minh City was second, behind Bangalore in India. Hanoi was eighth, surpassing famous cities such as Boston, Nairobi, Dubai and Melbourne.

This is the first time Vietnam has had two cities appear in the City Momentum Index and came about because of low living costs, consumer market development, and strong growth in FDI, according to Jones Lang LaSalle. Ho Chi Minh City found a place on last year’s Index.

Positions on the list changed compared to the City Momentum Index in 2015, when London, San Jose, Beijing, Shenzhen and Shanghai led the way.