13 October 2012

PwC Cities of Opportunity 2012: New York, London, Toronto, Paris and Stockholm top rankings

New York - 10 October 2012 – Though New York and London lead cumulative scoring, emerging cities, including Beijing and Shanghai, are narrowing the gap within key economic indicators, according to the fifth edition of Cities of Opportunity released today by PwC and the Partnership for New York City. 

While New York officially edges out London by one point across 10 economic indicators, the city wins in no individual category. Toronto, which finishes third, also shows great balance yet wins no category. London, however, takes the lead in "city gateway," an indicator introduced this year that measures global interconnectedness and international attraction. Rounding out the leaders are Paris, which advances four spots from 2011 to number four, and Stockholm at number five. 

In addition to looking at the current performance of 27 cities that are global capitals of finance, commerce and culture, the study for the first time analyzes city employment in the most significant and telling job sectors and projects the trajectory of the cities in jobs, economic output, and population to 2025. 

"Cities succeed when they invest in core needs important to both people and businesses," said Bob Moritz, PwC's US Chairman and Senior Partner. "When a city invests continuously and aggressively in critical areas, including education, healthcare, safety and infrastructure, it creates a healthy urban environment. Entrepreneurs and businesses thrive, the city economy grows, and long-term resiliency follows." 

The Cities of Opportunity key indicators and top three cities within are: 
  • Intellectual capital and innovation: Stockholm, Toronto, Paris
  • Technology readiness: Seoul, San Francisco, New York 
  • Transportation and Infrastructure: Singapore, Seoul/Toronto, Tokyo 
  • Health, safety and security: Stockholm, Toronto, Sydney 
  • Economic clout: Beijing, Paris, London/New York 
  • Ease of doing business: Singapore, Hong Kong, New York 
  • Cost: Berlin, Seoul, Kuala Lumpur 
  • Demographics and livability: Paris, Hong Kong/Sydney, San Francisco 
  • City gateway: London, Paris, Beijing 
  • Sustainability and the natural environment: Sydney, San Francisco/Toronto, Berlin 
Source: PwC