London is the place to be for businesses and individuals in search of fresh opportunities although Singapore is hot on its heels, according to PwC.

The U.K. capital emerged as the top global city for the second consecutive occasion and even extended its lead against rivals, according to PwC’s biennial “Cities of Opportunity” report.

“London has the tools for a changing world, which increasingly determine global success or failure in an urban world driven by knowledge and connectivity,” PwC analysts said in the report.

The report assessed 30 global cities based on 10 economic and social health indicators, including transportation and infrastructure, ease of doing business, demographics and livability, technology readiness and cost.

Singapore was the runner-up and the only Asian city in the top five, flanked by Toronto in third, then Paris and Amsterdam.