Cities Under Competition : The Role of City Image(s) in Brand Building for Investment Inflow

Globalization and global economic development have unleashed competition not only among the nationstates but also among the city spaces. This competition is somewhat new and it is quite different from that of the product and services markets operating at the global level between various nations. The cities are increasingly marketing themselves as better places for investment inflows by showcasing their strengths to the global investors, who are more mobile now with the flexibility that has come in production and services. Here, the image of the city — past, current and projected — also assumes importance, especially when it comes to the branding of a city as an investment destination. However, branding of the city alone may not lead to success; it requires building up a strong support of city administration to work in line with the expectations of the potential investors on the one hand and the designing of innovative marketing strategies on the other. This paper attempts to highlight how the emerging global competition scenario has forced the two major cities — London and Mumbai — to adopt strategies that use the city identity and its strength for promoting investment inflow using institutional networks. It therefore draws upon the facts and features rather than attempting to make a comparison between the two. The imperatives of such promotion, e.g., the promotion costs, realization of investments, local priorities, etc., are also briefly touched upon