Toronto climbed to third place in the annual Scorecard on Prosperity rankings, reaching its highest score yet since the Toronto Region Board of Trade began measuring cities five years ago.
The report compares 24 cities on a number of detailed livability and economic performance indicators to determine global leaders in overall prosperity. Toronto, like many of the cities benchmarked, has benefited from the poor performance of other cities, but still a number of dynamics have contributed to our rise in the rankings.
"In third place, Toronto moves up from sixth in Scorecard 2013, again drawing on a strong performance in labour attractiveness, and boosted by some improved economic rankings. For the second consecutive year, Toronto ranks higher than all other U.S. metros. Overall, Toronto placed third on Labour Attractiveness and 12th on Economy. It is worth pointing out that Toronto's higher composite score on the Economy is the story of resilience and economic potential but not yet the story of continued growth and momentum in absolute terms," the report states.
Paris maintained its number one status in part thanks to its "labour attractiveness indicators" and its status as the "world leader on air quality and cultural occupations." Calgary followed at second overall, the report cites, as the city "continues to show strong income and employment growth, while maintaining a favourable Total Tax Index."
Although the city still has some work to do before we can be compared to Paris, Toronto showed great strides in several areas.
"Toronto's scores and ranking improved on six of the indicators; most notably on teachers per 1,000 school-age population, population with Bachelor's degrees or higher, and homicides per 100,000 population," the report says. "Toronto has been among the world leaders in the Labour Attractiveness domain, because of the region's diversity, excellent student-teacher ratio, steady population growth, and overall solid results on water and air quality."
To read the full report, click
here.
Original Source: Toronto Region Board of Trade