New York is the most competitive city in the world and is likely to hold onto that title through at least 2025, according to a study by the Economist Intelligence Unit for Citigroup.
The study ranked 120 cities around the globe on their competitiveness, based on their ability to attract key resources like capital, workers, tourists and innovation.
New York was followed by London, Singapore and Hong Kong. The only other U.S. city to make the Top 10 was Chicago, coming in at No. 9.
Leo Abruzzese, EIU’s global forecasting director, told Crains New York that diversity was at the core of New York's competitiveness.
"One of the reasons New York does well is it's not relying on just one industry," Abruzzese said. "Some of the other cities tend to rely on one or two industries. New York has strength spread out."
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