London and New York in battle to be ... Capital of Cool

There used to be only one winner: but now, after closing the gap as the world's financial hub, London will go head to head with its transatlantic rival in an autumn battle of culture, report David Smith and Alice Fisher
The Terracotta Army will do battle with Rembrandt. Ewan McGregor's Iago will take on Kevin Kline's Cyrano de Bergerac. On the catwalk, Stella McCartney will be fighting for the limelight with Gwen Stefani.

The unofficial battle for the title World Capital of Cool is about to resume. There are only two big beasts in the jungle: New York, once the undisputed champion, and London, seen by many as rapidly closing the gap. Debate about their respective merits raged earlier this year when London emerged as a threat to the Big Apple's financial dominance. It is about to start again as the cities go head to head in an autumn culture war.

New York has struck an early blow after being voted the 'coolest city in the world' in research published today. An online survey of more than 2,500 people aged 18-35 was commissioned by STA Travel and CoolBrands, part of the Superbrands consultancy. New York was rated number one for 'coolness' with 14 per cent of the vote, followed by London on 10 per cent. It is a measure of how far the British capital's thriving bars, restaurants and shops have come in recent years that it beat perennial favourites Sydney, Barcelona, San Francisco, Rio de Janeiro, Bangkok, Paris, Tokyo and Berlin in the top 10.

But the perceived gulf between London and the rest of Britain was laid bare by an associated poll to find the world's coolest countries. Australia topped the rankings, followed by New Zealand, Thailand and America, whereas the UK failed to make the top 20.

Stephen Cheliotis, chairman of the CoolBrands Council, said the results did not surprise him: 'Historically, New York has been seen as the self-proclaimed capital of the world. Almost everyone feels they know New York, even if they haven't been there, because they've seen so many films and TV programmes. The way it has bounced back after 9/11 has shown New Yorkers' "can do" attitude.

'But London is starting to challenge, not only in the City, but for the crown of capital of the world. Not quite as many films are set there, although the latest Harry Potter will probably be one of the biggest of the year. Its location is also important: people are familiar with New York from a distant point of view, but if they know London it's probably because they've been there.'

For a long time New York held the upper hand. John Lennon, who moved to Manhattan, put it succinctly: 'If I'd lived in Roman times, I'd have lived in Rome. Where else? Today America is the Roman Empire and New York is Rome itself.' But in January New York was rattled when the mayor, Michael Bloomberg, warned that Wall Street was losing ground to the City.

An article in New York Magazine also detected a shift: 'If Paris was the capital of the 19th century and New York of the 20th, London is shaping up to be the capital of the 21st century... In short, New York is cardiganed Woody Allen and London is party-dressed Lily Allen.' The British capital, which beat New York to host the 2012 Olympics, will receive another boost in November when the spectacularly restored St Pancras station offers a high-speed link to Paris.

The next frontline will be the catwalk. New York Fashion Week is currently under way to be followed on Saturday by its London equivalent. New York has the big money glamour but does not impress everyone. James Huckbody, fashion features editor of British Elle, said: 'New York is all about the bottom dollar, so the clothes tend to be more customer-friendly. They don't always make for revolutionary catwalk moments.'

New York's show is dominated by fashion behemoths Ralph Lauren and Calvin Klein, moonlighting celebrities - such as singer Gwen Stefani's label LAMB - and labels like Marchesa, famous for making red-carpet dresses for Hollywood starlets. This makes it all the more galling that British designers nurtured by London Fashion Week often decamp to New York to boost their profile. Alice Temperley has shown there since 2003 and Preen made their American debut last Thursday night.

The exodus means that London Fashion Week typically relies on new talent. But not this time. Matthew Williamson and Luella Bartley, two of the most successful names in fashion, have quit New York to show in London again. As Bartley's friends include Kate Moss, her show and shop opening will be the events of the week. Stella McCartney will also be in town for a collaboration with Adidas, although she prefers to show her main collection elsewhere.

But London's impetus always comes from new designers who may now steal New York's thunder. Christopher Kane has been tipped for success by Vogue editor Anna Wintour and is already a consultant for Versace, even though he is only showing his third collection.

Elsewhere, the cities will slug it out with blockbuster exhibitions guaranteed to attract thousands of visitors. Terracotta warriors from the tomb of the emperor Qin Shi Huang in Xi'an, China, go on display at the British Museum this week in what is already one of the fastest selling shows of all time. A selection of Ancient Egyptian treasures from the tomb of Tutankhamun will be the star attraction at the O2, the former Millennium Dome, from November. Tate Britain is preparing an exhibition dedicated to the Pre-Raphaelite John Everett Millais. New York's ripostes include a major exhibition of Rembrandt and other Dutch masters at the Metropolitan Museum of Art, while the Neue Galerie will mount works by Gustav Klimt.

Glittering film festivals are coming up in both cities, with New York premiering Wes Anderson's The Darjeeling Limited with Owen Wilson, Adrien Brody, and Jason Schwartzman as brothers journeying through India. The riotously subversive Sarah Silverman is among notable turns at the New York Comedy Festival. At the theatre, Londoners are looking forward to Chiwetel Ejiofor and Ewan McGregor in Othello at the Donmar Warehouse, Jonathan Pryce in David Mamet's Glengarry Glen Ross at the Apollo, and dancer Carlos Acosta at Sadler's Wells. New Yorkers, meanwhile, will be treated to Cyrano de Bergerac starring Kevin Kline and Jennifer Garner, Pygmalion with Claire Danes, and Young Frankenstein, a Mel Brooks-Thomas Meehan musical directed and choreographed by Susan Stroman. The Royal Shakespeare Company has a foot in both camps: King Lear and The Seagull, both starring Sir Ian McKellen, will open in New York before travelling to London.

Nicholas Hytner, artistic director of the National Theatre, has no doubt which city is king. 'As far as English-speaking theatre is concerned, London is the world capital, and I don't think anyone in New York would dispute that,' he said. 'Theatre is part of the national conversation here in a way that it isn't in America.'

Asked if he rated London as the coolest city in the world, Hytner added: 'You bet. It's not the most beautiful, but it's the most exciting.'

But Ed Victor, the New York-born literary agent who divides his time between the two cities, said: 'Depending on how you define "cool", I'd say New York is cooler, but London is more cosmopolitan. Take a look around New York at the people, the fashion, the shops - it's more cutting edge. But the culture, the art, the museums in London are ahead. They are the two greatest places in the world. They are not cities, but city states, which Sydney is not: it is parochial by comparison.'

Indeed, the two cities have more in common with each other than with their own countries, according to Tony Travers, an academic at the London School of Economics. 'Trying to make a precise judgment between them is very difficult,' he said. 'Even in New York they're slightly alert to the fact that London is gaining on them. The confidence of a thousand years of developed democracy and a carnival-on-the-edge-of-frenzy atmosphere gives London a good chance in the modern world.'

The case for London

Rachel Halliburton, deputy editor, Time Out

Where's the best restaurant in London to blow the bank?

Arbutus, Frith Street, Soho. Fantastic, great quality food.

What's the best restaurant in London where you don't have to blow the bank?

The Table, Southwark Street, south London. Great, flexible service.

What's the best thing about London?

The fact that our amazingly cosmopolitan city is at a creative peak, in everything from fashion and modern art to music.

What's the worst thing about London?

The farcical local council red tape.

What's your favourite view in London?

A winter sunset over the Thames viewed from the Golden Gallery of St Paul's.

Can you sum up London in one sentence?

A glorious cosmopolitan whirl of dirt and inspiration with the greatest human foundation in the world; an overdose of literary and artistic greatness and a vibrantly luminous future.

The case for New York

Sarah Ivens, editor of OK! USA, is a Londoner who has lived in New York for two-and-a-half years

What's the best restaurant to blow the bank at?

Craft, owned by star chef Tom Colicchio. The place for a make-up or break-up.

What's the best restaurant in New York where you don't have to blow the bank?

Chipotle Mexican Grill, like a Mexican McDonald's. My British friends beg me to take them there.

What's the best thing about New York?

It's an amazing city to be selfish in. You can close the door to your apartment or you can party for 24 hours. It's the best to place get a pedicure or margarita. You can get what you want, where you want it.

What's the worst thing about New York?

The taxis. It's hard to get out of one without feeling sick at the end of it.

What's your favourite view in New York?

Driving home over the Brooklyn Bridge. That's the point when I think: 'Bloody hell, I'm really here, I've really made it.' I love it.

Sum up New York in one sentence

It's an exciting, vibrant hamster-wheel. We're all on it, it's mad, and no one wants to get off.

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