March 13, 2012

Benchmarking Global City Competitiveness

Housing more than half of the world’s population and producing 80% of global GDP, cities are more important than ever before to the world’s societal and economic development. Recognizing the rapid growth of the city as an economic driver, Citi commissioned The Economist’s business research branch, the Economist Intelligence Unit, to research and compile a comprehensive report and index of 120 of the world’s most competitive cities. New York is the most competitive city in the world.

Key findings:
  1. US and European cities are the world’s most competitive today, despite concerns over ageing infrastructure and large budget deficits.
  2. Asia’s economic rise is reflected in the economic competitiveness of its cities.
  3. A “middle tier” of mid-size cities is emerging as a key driver of global growth.
  4. The most significant advantage that developed country cities hold is their ability to develop and attract the world’s top talent.
  5. Infrastructure investments will drive emerging market growth, but more will be needed to secure their attractiveness to tomorrow’s talent.
  6. Cities of all sizes can be competitive, but density is a factor in the competitiveness of larger cities.
  7. African and Latin American cities lag most on competitiveness.
Explore the full report 'Hot Spots: Benchmarking global city competitiveness' on the website of Citigroup.

Read full report >>

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