Toronto ranked in top 10 most competitive cities in world

Toronto is ranked in the top 20 cities in the world which according to its high in Economics growth, human capital, financial maturity and global appeal. In the next 30 years, nearly all growth is expected to come from the city.  Take a look at the article from Financial Post

Toronto ranked in top 10 most competitive cities in world

Steven Perlberg, Business Insider, Financial Post



The only Canadian city to make into the top 20, Toronto ranks high in Economics growth, human capital, financial maturity and gobal appeal.

More than half the global population lives in cities, according to a new report from Citi and the Economist Intelligence Unit.

And they account for 80% of GDP.

In the next 30 years, nearly all growth is expected to come from cities.

Cities in North America and Europe will continue to be the world’s most competitive till 2025. But major cities in emerging markets like Brazil to India boosted their global competitiveness.


A few major takeaways from the report:

São Paulo, Incheon, and Mumbai are the top movers between 2012 and 2025.   Improved infrastructure, economic progress, and improved cultural vibrancy have been a boon to emerging market cities.

North American and Western cities still reign. They attract capital, businesses, tourists, and a talented work force.

•The Eurozone crisis will impact Southern and Eastern European cities. Madrid, Rome, and Bucharest all became less competitive.

•Slowing Chinese growth. No Chinese city is ranked among the top 25 most improved, largely due to how much progress they made during the 2000s.

The report takes into account metrics like economic growth, human capital, financial maturity, and global appeal. We’ve picked out a few key categories from the report to highlight the world’s most competitive cities.

 

#17 Los Angeles

 
spirit of america / Shutterstock.com

Overall score: 62.7

Economic strength: 37.4

Financial maturity: 50.0

Physical capital: 88.4

Institutional effectiveness: 85.7

Human capital: 70.3

Infrastructure upgrades to its port helped boost LA’s competitiveness as a trade gateway to the Pacific.

All scores are out of 100.

Source: Citigroup

#16 Copenhagen


Wikimedia Commons

Overall score: 63

Economic strength: 24.0

Financial maturity: 75.0

Physical capital: 98.2

Institutional effectiveness: 79.9

Human capital: 77.0

Employees in Copenhagen have some of the highest gross earnings, making it the third richest city in the world.

All scores are out of 100.

Source: Citigroup, UBS


#15 Seoul


Flickr/doegox

Overall score: 63 (tied with Copenhagen)

Economic strength: 34.9

Financial maturity: 75.0

Physical capital: 98.2

Institutional effectiveness: 68.5

Human capital: 62.6

Seoul is home to 13 of the world’s largest 500 corporations.

All scores are out of 100.

Source: Citigroup, CNN


#14 Washington, DC


Travel + Leisure

Overall score: 63 (tied with Copenhagen)

Economic strength: 34.9

Financial maturity: 75.0

Physical capital: 98.2

Institutional effectiveness: 68.5

Human capital: 62.6

The report called Washington a “wired city to watch” thanks to its improvements in telecommunications and Wi-Fi spots.

All scores are out of 100.

Source: Citigroup, CNN


#13 Amsterdam


Amsterdam, Netherlands

Wikimedia Commons

Overall score: 63.8

Economic strength: 24.4

Financial maturity: 87.5

Physical capital: 100.0

Institutional effectiveness: 73.8

Human capital: 76.3

Amsterdam has a huge tourism industry, and visitors between the ages of 21 and 30 made for nearly 30 percent last year.

All scores are out of 100.

Source: Citigroup, I Amsterdam


#12 Taipei


Wikimedia Commons

Overall score: 64.1

Economic strength: 29.7

Financial maturity: 75.0

Physical capital: 95.5

Institutional effectiveness: 85.6

Human capital: 73.5

Garbage trucks in Taipei play classical music so residents know it’s time to take out the trash. Citizens hand deliver the bags so nothing touches the ground, avoiding typical city odor.

All scores are out of 100.

Source: Citigroup, MNN


#11 Zurich



Overall score: 64.1 (tied with Taipei)

Economic strength: 19.1

Financial maturity: 100.0

Physical capital: 98.2

Institutional effectiveness: 80.6

Human capital: 74.2

Cities of all sizes made it onto the list of the world’s most competitive. Zurich, for example, only has a population of 1.4 million. There is no correlation between population and competitiveness in the index.

All scores are out of 100.

Source: Citigroup


#10 Toronto


Wikimedia Commons

Overall score: 64.7

Economic strength: 20.9

Financial maturity: 100.0

Physical capital: 93.8

Institutional effectiveness: 83.4

Human capital: 76.3

Toronto was the only Canadian city to make it into the top 20. Canada’s Wall Street — Bay Street — is located in downtown Toronto.

All scores are out of 100.

Source: Citigroup


#9 Chicago


Michael Baird via Flickr

Overall score: 65.6

Economic strength: 34.2

Financial maturity: 75.0

Physical capital: 90.2

Institutional effectiveness: 88.6

Human capital: 71.5 

Chicago’s economy is expected to grow by an average of 3 percent per year. It also ranked above any other US city in terms of its ability to deal with environmental challenges.

All scores are out of 100.

Source: Citigroup


#8 Stockholm


Wikimedia Commons

Overall score: 65.7

Economic strength: 26.0

Financial maturity: 75.0

Physical capital: 100.0

Institutional effectiveness: 83.5

Human capital: 80.8

Stockholm is one of the cleanest cities in the world, and 95 percent of the city’s population lives less than 1,000 feet from green areas.

All scores are out of 100.

Source: Citigroup, European Green Capital


#7 Paris


Wikimedia Commons

Overall score: 67

Economic strength: 34.0

Financial maturity: 87.5

Physical capital: 93.8

Institutional effectiveness: 67.7

Human capital: 74.0

Paris is home to 33 of the world’s Fortune 500 companies.

All scores are out of 100.

Source: Citigroup, CNN


#6 Sydney


flickr/ryanwick

Overall score: 67.3

Economic strength: 24.8

Financial maturity: 87.5

Physical capital: 100.0

Institutional effectiveness: 90.1

Human capital: 80.9

The city of Sydney just launched an effort to help 200 local businesses — including restaurants and hotels — to implement green energy strategies to save the city money.

All scores are out of 100.

Source: Citigroup, City of Sydney


#5 Tokyo


Kabacchi via Flickr

Overall score: 68

Economic strength: 39.9

Financial maturity: 100.0

Physical capital: 100.0

Institutional effectiveness: 68.2

Human capital: 65.7

 
Tokyo reached #5 thanks to its vast financial system and “impeccable physical infrastructure.” The report also favorably projected Tokyo’s ability to cope with future natural disasters.

All scores are out of 100.

Source: Citigroup


#4 Hong Kong


Wikimedia Commons

Overall score: 68.1

Economic strength: 28.7

Financial maturity: 100.0

Physical capital: 100.0

Institutional effectiveness: 83.6

Human capital: 74.0

Hong Kong scored highly due to its “well-run, densely populated” area on the southern coast of China, making it a major economic hub.

All scores are out of 100.

Source: Citigroup


#3 Singapore


Wilson Loo via Flickr

Overall score: 71.2

Economic strength: 33.5

Financial maturity: 100.0

Physical capital: 100.0

Institutional effectiveness: 83.5

Human capital: 76.8

Singapore is a paragon of efficiency. Its transportation, bureaucracy, safety, and cleanliness helped the growing metropolis achieve #3 status.

All scores are out of 100.

Source: Citigroup

#2 London


Wikimedia Commons

Overall score: 73.1

Economic strength: 39.8

Financial maturity: 100.0

Physical capital: 100.0

Institutional effectiveness: 86.6

Human capital: 69.7

For a highly developed city, London is still growing. The report projected its population is expected to rise from 8.6 million currently to 14.4 million in 2025.

All scores are out of 100.

Source: Citigroup


#1 New York


andrew mace– via flickr

Overall score: 75.7

Economic strength: 53.3

Financial maturity: 100.0

Physical capital: 95.5

Institutional effectiveness: 90.9

Human capital: 73.0

New York is the world’s most competitive city, drawing millions from around the U.S. and the globe. Its status as the world’s financial capital and its economic strength helped give New York the big win.

All scores are out of 100.

Source: Citigroup

 

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                                                                                                       By An H

 

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