Global cities are now determined by their future rather than their past. This future is influenced by globalization, urbanization, and technological progress. The amount of cities’ education and innovation potential for the future and whether they can utilize environmental resources sustainably in the long run should also be taken into account. New ideas, an innovation-oriented economy, technology, the attraction of talent, an inclusive labor market, and cities’ property market dynamics are more and more important. New global cities redefine the term “global,” as several smaller ones compete successfully against their larger neighbors. In the age of globalization, not only national economies but also metropolises compete with each other for establishing regional corporate centers. In the globalizing world economy, a new global urban hierarchy is emerging, mainly driven by the international flow of capital, information, and services. The metropolises that can attract international corporations’ regional or global centers can claim the top spots in this hierarchy.