This study seeks to fill a significant gap in the existing literature by introducing a systematic methodology for objectively evaluating the performance of smart cities worldwide using Multi-Criteria Decision-Making (MCDM) methodologies. While various indices describing smart city rankings have been regularly published, the absence of a systematic approach has been noted. In response to this gap, our research aims to provide a structured framework for assessing smart cities’ performance. Building upon the ten criteria identified in the Eden Strategy Institute’s 2020/21 report, we focus on analyzing the performance of leading smart cities such as Amsterdam, Barcelona, Helsinki, London, Montreal, New York City, Seoul, Shanghai, Singapore, and Vienna. These criteria encompass a wide range of dimensions including budget and financial incentives, innovation ecosystems, leadership quality, past performance, people orientation, preparedness, support programs, smart policies, and vision. The chosen MCDM methodology offers an effective means of managing complex and multi-criteria processes. Each criterion is meticulously evaluated for every city using a specified rating scale. Subsequently, the weight of each criterion is determined utilizing the WENSLO method, and each city’s performance is calculated employing the RAWEC method. By adopting this approach, our study aims to deliver a comprehensive and analytical evaluation that transcends subjective assessments. Furthermore, our research contributes a methodology for identifying essential criteria for ranking smart cities and evaluating countries based on these criteria. This methodology can serve as a valuable tool for academic researchers and policymakers alike, providing them with a systematic framework for assessing the development of smart cities and guiding decision-making processes in this domain.