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| Toronto ranks as business city, Tokyo for tech IQ |
July 1, 2007 |
Knowledge economy new measure for cities
The new cities of the future may be Shanghai and Singapore, according to a ranking compiled by the Partnership for New York City and PricewaterhouseCoopers. Eleven cities—Atlanta, Tokyo, Chicago, Frankfurt, London, Los Angeles, New York, Paris, Shanghai, Singapore and Toronto—were measured against nine indicators: cost, intellectual capital, technology IQ and innovation, transportation assets, demographic advantages, financial clout, ease of doing business, lifestyle assets, and safety and security.
Each city in the study, Cities of Opportunity: Business-Readiness Indicators for the 21st Century, was at or near the top in at least one measure and no place dominated across the categories.
London, New York, Paris and Tokyo received the highest rankings in intellectual capital, transportation assets and financial clout. In the areas of cost, ease of doing business and demographic advantages, Atlanta and Toronto ranked near the top, as did Los Angeles, Chicago and Singapore. New York dominates the financial clout indicator, while Tokyo is the leader in technology IQ and innovation. London is the top-ranked city in intellectual capital while Paris leads in lifestyle assets. Shanghai scores highly in developing recreational space, while Frankfurt tops the list in terms of safety and security. Atlanta dominates the cost indicator, and Chicago emerges as an up-and-coming global city in a number of indicators, including cost and demographic advantages.
“At the beginning of the 20th century, benchmarks such as port capacity and manufacturing capabilities were the driving forces for success among global cities,” said Dennis Nally, U.S. chairman and senior partner of PricewaterhouseCoopers LLP. “But we believe that new forces will drive a city’s business competitiveness in this new century and our study examines those more modern and relevant assets.
The report is at www.pfnyc.org and at www.pwc.com/cities.
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