Singapore is currently the most competitive city in theworld, beating out New York and London, according to
the Economist Intelligence Unit (EIU), which focuses on global research. However, says the EIU, by 2025, New York City will be number one.
Citi commissioned the EIU to create a forward-looking research report that determines the competitiveness of
120 global cities in 2025. “ Hot Spots 2025:
Benchmarking the Future Competitiveness of Cities ” was designed to enhance understanding of market
competitiveness and help determine where growth, opportunity, and talent are likely to be found in the future. It also attempts to identify the ways in which
cities can boost their competitiveness to enable economic progress and growth.
According to the report, in order for a city to be globally competitive, it must have a large and growing economy, a good legal system, an inviting and productive culture,
good infrastructure and it must have good policy on things that determine long-term stability and success, like the environment. The EIU’s latest report attempts to identify those cities that, as of 2012, best embody each of those characteristics, and based on projections,
where they will at the quarter century mark. Based on the report, these are the most competitive cities of the
future.
10. Toronto, Canada
> 2025 competitiveness score (out of 100): 64.7
> 2012 GDP: $201.3 billion (31st highest)
> 2025 GDP: $271.3 billion (29th highest)
> Metro population : 6.1 million
Toronto is one of three North American cities that are
expected to become the world’s most competitive by 2025. When it comes to economic strength, which includes GDP and GDP growth and is one of the most
important indicators of competitiveness, the city is not even projected to be in the top 100. Toronto makes up for this by being among the eight cities with a perfect score for the projected strength of its financial institutions in 2025. In fact, Moody’s Analytics projects that the number of workers in Toronto’s finance industry will surpass that of finance powerhouse London by 2017. Toronto is also one of just two cities worldwide to
receive a perfect score for its social and cultural character, making it an attractive place for workers to relocate.
9. Chicago, United States
> 2025 competitiveness score (out of 100): 65.6
> 2012 GDP: $524.0 billion (5th highest)
> 2025 GDP: $742.1 billion (7th highest)
> Metro population: 9.1 million
Chicago is one of just two U.S. cities to make the list. According to the EIU, factors that will boost Chicago include its improvements in government effectiveness, health care and access to international flights.
Chicago’s 2012 GDP of $524 billion was higher than all but four other cities in the world. GDP is expected to jump to more than $742 billion by 2025. Moreover,
Chicago is currently ranked among the top 10 of all cities for its institutional character and is projected to maintain that through 2025. The city’s projected global business appeal and quality of higher education also rank among the top 10 in 2025.
8. Stockholm, Sweden
> 2025 competitiveness score (out of 100): 65.7
> 2012 GDP: $102.2 billion (61st highest)
> 2025 GDP: $194.9 billion (44th highest)
> Metro population: 2.1 million
7. Paris, France
> 2025 competitiveness score (out of 100): 67.0
> 2012 GDP: $605.0 billion (4th highest)
> 2025 GDP: $884.3 billion (5th highest)
> Metro population: 10.8 million
6. Sydney, Australia
> 2025 competitiveness score (out of 100): 67.3
> 2012 GDP: $182.4 billion (35th highest)
> 2025 GDP: $271.4 billion (28th highest)
> Metro population: 3.8 million
5. Tokyo, Japan
> 2025 competitiveness score (out of 100): 68.0
> 2012 GDP: $1,417.1 billion (the highest)
> 2025 GDP: $1,846.8 billion (the highest)
> Metro population: 37.1 million
4. Hong Kong, China
> 2025 competitiveness score (out of 100): 68.1
> 2012 GDP: $307.5 billion (19th highest)
> 2025 GDP: $342.2 billion (19th highest)
> Metro population: 7.1 million
3. Singapore, Singapore
> 2025 competitiveness score (out of 100): 71.2
> 2012 GDP: $252.4 billion (26th highest)
> 2025 GDP: $318.7 billion (23rd highest)
> Metro population: 5.2 million
2. London, United Kingdom
> 2025 competitiveness score (out of 100): 73.1
> 2012 GDP: $442.6 billion (7th highest)
> 2025 GDP: $1.053.8 billion (3rd highest)
> Metro population: 8.6 million
1. New York City, United States
> 2025 competitiveness score (out of 100): 75.7
> 2012 GDP: $1,243.0 billion (2nd highest)
> 2025 GDP: $1,828.7 billion (2nd highest)
> Metro population: 20.5 million
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