WORLD
New York tops world`s most competitive cities ranking, Tokyo 6th
Baku, March 13 (AZERTAC). New York ranked first among 120 major cities in the world in terms of competitiveness, according to a survey report released Monday by Citigroup Inc. and the research arm of the publisher of British magazine The Economist.
London and Singapore came second and third, followed by Paris and Hong Kong jointly in fourth place and Tokyo in sixth, said the report, which ranks cities in eight categories of competitiveness such as economic strength, human capital, institutional effectiveness, social and cultural character, and environment and natural hazards.
While many European and U.S. cities are among high rankings overall, Asian cities dominated the top rankings in the category of economic strength, the report showed. In this most highly weighted category, 15 of the top 20 cities are in Asia -- 12 are in China.
Among other Japanese cities, Osaka ranked 47th, Nagoya 50th and Fukuoka 63rd.
"Cities are engines of prosperity and innovation...But as cities vie for investment, talent and business, we recognize that competitiveness is about more than growth," said Citigroup Chief Executive Officer Vikram Pandit.