Another day, another ranking.
And this one‘s all about the money.
Evaluating cities based on five core metrics (Overall Economic Clout, Financial Power, Global Competitiveness, Global Cities Index, and Equity and Quality of Life), the Martin Prosperity Institue attempted to determine which global city is the world’s most economically powerful.
Each city is measured across these five indicators; 10 points are awarded to a first place ranking, nine to a second place rank, eight for third – you get the idea…
Now, to break some cities’ hearts (sorry, London and Tokyo), New York City is by far the strongest economic engine in the world. It’s so powerful, in fact, that it outperforms the entire economy of Germany when considered among the $3.75 trillion Boston-Washington mega region.
NYC ranks first on three measures and second on the other two, tops the list of econimic output per capita, and is in prime position to keep growing within America’s recovering economy.
So, where does that leave the rest?
Well, London’s decade of global economic prominence places the U.K. capital at a very respectable second ($836 billion versus NYC’s $1.4 trillion), followed by Tokyo, Hong Kong, and Paris, respectively.
Canada’s lone representative among the top 25, Toronto, is tied for 10th overall with Stockholm.
You can see a full breakdown of criteria with further analysis here.