NYC ranks first in global competition

Mayor Michael Bloomberg

Any New Yorker rushing to be the first to a cab might not be surprised to hear the city is the most competitive — in the entire world.

New York topped a list of globally competitive cities yesterday, edging out other international heavyweights like London and Hong Kong.

The honor was bestowed in a study from the Economist Intelligence Unit, a sister group to The Economist that provides international data.

New York beat out 120 of the world’s major cities in the report, which compared data like economic strength, global appeal, talent and tourists.

“If you want to start a business, create a new product, or have a big idea, New York City is the place to be,” Mayor Michael Bloomberg said. “New York City’s position at the very top of this list is no accident.”

New York succeeds because the economy thrives from a range of sources, the report noted, from media to fashion to technology to finance.

“This generates a range of opportunities, from entry-level tourism jobs to highly-paid Wall Street careers,” the report added.

The report also cited projects like a planned applied science and engineering campus and The Technion-Israel Institute of Technology, which the report said will generate $6 billion.

Bloomberg was also interviewed in the report, saying, “Talented people want to live in places that not only offer the best career opportunities but also the best cultural attractions and highest quality of life.”

London came in second in the report, followed by Singapore, Paris and Hong Kong.

Follow Alison Bowen on Twitter @AlisonatMetro


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