Schroders has published its annual “Global Cities Index,” which ranks cities according to their economic growth and future prospects.
The index is compiled using a range of factors, including the projected growth of the economy, projected disposable incomes over the next decade, and the size of the working population.
While North American cities continue to dominate the list — taking nine of the top 19 places — is China’s growing ever-expanding “mega-cities” which occupy some of the very top spots, as their working population and economic prospects continue to grow rapidly.
Take a look at the cities which made the top of the list.
19. Philadelphia, USA — the fifth most populous city in the United States has evolved into an economic and educational hub, with an annual gross domestic product (GDP) of £306 billion ($388 billion.)
18. Toronto, Canada — with a population of over 2,500,000, Toronto is the fifth largest in the whole of North America. It is Canada’s commercial hub, and is home to the Toronto Stock Exchange, and the headquarters of Canada’s five largest banks.
17. Miami, USA — Miami is an economically diverse city with strengths in finance, media, and commerce. It was classified as an ‘Alpha World City’ in the annual Cities Study Group’s inventory, which means it plays an important role in international trade.
16. Tokyo, Japan — Japan’s capital city is a major commercial and financial centre, as well as a huge attraction for tourists. It houses the headquarters of several of the world’s largest banks, and is a hub for many of Japan’s other major industries, including transportation, publishing, and electronics.
16. Tokyo, Japan — Japan’s capital city is a major commercial and financial centre, as well as a huge attraction for tourists. It houses the headquarters of several of the world’s largest banks, and is a hub for many of Japan’s other major industries, including transportation, publishing, and electronics.
15. Melbourne, Australia — also rated as the world’s most liveable city by the Economist’s Intelligence Unit, the city also ranks highly for education, entertainment, healthcare, and tourism.
14. Sydney, Australia — the city is a major and growing economic hub, with strengths in finance, manufacturing, and tourism. In 2015/16, Sydney generated 39% of Australia’s total GDP.
13. Atlanta, USA — the capital of the state of Georgia has a population of nearly 500,000. Another ‘Alpha City,’ it has an annual GDP of $270 billion.
12. Paris, France — the French capital is one of the few European cities to make the list. It specialises in high value-added service industries like finance and IT, and has an annual GDP of around £510 billion ($650 billion.)
11. Washington, USA — home of the White House and capital of the United States, the city of Washington was founded in 1791. Aside from the large number of people employed in government, it has growing industries in education, finance, and public policy.
10. Chicago, USA — with over 2.7 million residents, Chicago is the third-most populous city in the United States. It is already a thriving hub of industry and finance: its airport is the second-busiest in the world measured by traffic, and its metropolitan has a gross domestic product of £495 billion ($630 billion).
9. Houston, USA — nicknamed ‘Space City’ after NASA based its manned flight facility in the Houston, the most populous city in Texas has growing strengths in international trade, education, medical research, and technology.
8. London, UK — another of the few European cities on the list, London is renowned as a global hub of finance, and is celebrated for its diversity and economic strength.
7. Dallas, USA — the Texan city continues to grow as a major financial centre, with strong infrastructure links including a major port, large airport, and a convergence of major railway lines.
6. Los Angeles, USA — the Californian city is the second largest in the United States after New York. Known for its Mediterranean climate, it is the centre of the American entertainment industry.
5. New York, USA — with a population of over 8,500,000, New York City is the most populous and densely-packed in the United States. It is a major hub for finance, media, technology, and culture, and has been described as the financial and cultural capital of the world.
4. Tianjin, China — the fourth most populous city in China, Tianjin has long been established as a major seaport and ‘gateway’ to Beijing. Like many of China’s ‘mega-cities,’ the state is investing heavily in the city’s development. The government’s objective is to ensure financial revenue grows at 16% annually.
3. Shenzhen, China — located immediately north of Hong Kong, Shenzhen was a market town of 30,000 people until 1980, when the government designated it as the first ‘Special Economic Zone.’ It now has a population of over 10 million, and continues to grow.
2. Shanghai, China — with a population of over 24 million, Shanghai is the most populous city in the world. It is a major financial centre and transport hub.
1. Beijing, China — home to ‘China’s Silicon Valley,’ 91 universities, and 52 headquarters of Fortune Global 500 companies, China’s capital is internationally renowned as a place to study and do business. Its economic expansion continues at a rapid pace.
Thomas Colson , Business Insider .
