The City of Toronto was officially named the second-best “city of the future” in the Americas thanks to its rising stature as an international hub for investment, trade, and innovation.
The Financial Times publication fDi Intelligence recently released its ranking of the top cities of the future — a study of cities in North and South America that prove to be promising investment locations.
The top 10 list was comprised of only cities in Canada and the United States, and Toronto came out as both the top city in Canada and the second highest city across the Americas. This is one spot up from last year’s ranking.
According to fDi, Toronto is being recognized for its smart investments in business development, culture, people, and neighbourhoods. Recent investments in the city from large international companies like Netflix, Reddit, Twitter, Pinterest, and DoorDash were all taken into account.
“The Toronto Region is the largest technology hub in Canada and fifth largest in North America, with 24,000 companies employing 290,000 people” fDi wrote in a press release. “Toronto ranks second in North America (after only San Francisco) in the number of tech degrees – 24,083 between 2014-2018.”
Toronto also ranked high in the individual Economic Potential and Business Friendliness categories, taking home second place in those as well. It ranked seventh in Human Capital and Lifestyle and sixth in the Connectivity category.
“This ranking confirms that Toronto is one of the best places for businesses to invest, build, expand and succeed,” said Mayor John Tory. “Toronto is the economic engine of Canada and I’m confident that our city will come back stronger than ever in the years ahead because of the work we are doing to build our city up and continue to attract people and businesses.”
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Toronto was beat out in the overall city of the future category by New York City, but another Canadian city, Montreal, also made it on the top 10 list, taking home fourth place.