A new list of the world's top cities has been released. Here is where Toronto stands
A new global ranking of the world’s leading cities has been released, with Toronto notably snagging a top spot among the worlds best locations.
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A new global ranking of the world’s leading cities has been released, with Toronto notably snagging a top spot among the worlds best locations. (The Canadian Press)
The 2025 Global Cities Index, released by Oxford Economics, evaluates 1,000 cities around the world using "quantifiable metrics" to provide an overview of attractiveness, long-term livability and economic competitiveness. This year's list was compiled into the top 50. (Nathan Denette/THE CANADIAN PRESS)
Researchers say the list is based on five key metrics including economics, human capital, environment, quality of life, and governance. While North American and European cities dominate the world leaders, researchers say the next era of global growth will be shaped by rising cities in Asia, Africa, and other parts of the developing world. Here is a list of the top 20. (Paige Taylor White/The Canadian Press)
20. Toronto, Canada Toronto is the highest-ranked Canadian city on the list, coming in at number 20. The city is described as “the country’s premier centre for business, finance, culture, and art.” Notably, Toronto placed 19th globally in economics and 13th in human capital, but its overall score was pulled down by weaker performance in quality of life (240th) and environment (224th). (The Canadian Press)
“Toronto boasts one of the most historically stable economies in North America, yet it has not sacrificed its robust GDP and employment growth to achieve this feat,” researchers wrote. “It remains one of the faster-growing cities in the region.” (THE CANADIAN PRESS)
Toronto’s large foreign-born population and international migration levels have driven strong labour force growth and helped position the city as a hub for research and innovation. “Sustaining this strong growth over a long period of time has been possible thanks to Toronto’s persistently high levels of in-migration, particularly from international immigrants,” the index notes. (THE CANADIAN PRESS)
Toronto leads Canada, but faces growing strains However, researchers also warn that rapid population growth has put pressure on housing supply, affordability, and infrastructure.
“With housing supply unable to keep up with demand, unaffordability remains near record highs,” the report says. “Residents of Toronto spend more of their income on housing than residents of nearly every other city in the world.” (The Canadian Press)
The rest of the top cities in the world: Eight of the top 10 cities remain unchanged from last year’s index. New York and London held onto the top two positions, while Paris placed third. Researchers called New York “the economic capital of the world,” with the largest metro economy on the planet and deep strength in finance, tech, and media.
London, meanwhile, was praised for its enduring relevance to global business, science, and technology.
Here’s the full list of the remaining cities in the index: (AP)
19. Dallas, U.S. The city of Dallas, Texas comes in at number 19, as officials say it's "driven by its economic size and stability. With a population of 8.4 million people, it generates a GDP of US$789 billion. (AP)
18. Copenhagen, Denmark Copenhagen, Denmark is listed at 18 respectively, largely in part due its individual scores in governance (4th), environment (49th) and economics (23rd). "Copenhagen also performs well in
the Human Capital category," official wrote, adding that the University of Copenhagen and Technical University of Denmark are strong influences over the city's reputation. (Maxym Marusenko/NurPhoto via Getty Images via CNN)
17. Oslo, Norway Oslo, Norway is one of only five cities that ranks inside the top 100 across all categories. Although the city is not a large economy in global terms, researchers say Oslo's GDP per person is relatively high sitting at US$84,100. (AP)
16. Zurich, Switzerland While Zurich may not be large in population, it remains the financial capital in all of Europe, the index says. "Zurich has the 85th-largest economy in the world, but in per-person terms, it has the 12th-largest." Zurich is one of 22 cities in the world with a GDP per person above US$100,000. (AP)
15. Seoul, South Korea As one of the major economic centres
of both Asia and the world, Seoul ranks at number 15. Researchers say due to its "substantial GDP size" at US$926 billion, the nation is considered as one of the world's leading economies. Notably, it also ranks as "the best Asian city or fifth globally, in human capital." (AP)
14. Stockholm, Sweden According to researchers, Stockholm's strength lies in its consistency, as it is one of only five cities to score in the top 100 for every category of the index. "People and businesses are also choosing
Stockholm because of the high standard
of living, which includes one of the
highest life expectancies in the world." (AP)
13. Dublin, Ireland Dublin's economics score is
strengthened by having the fifth-highest
GDP per person on the list and
placing third in Western Europe for
GDP growth. "Dublin also has
the third-fastest employment growth
forecast in Western Europe, indicating
that the city’s economy is indeed in
good shape," officials said. The success of Dublin is largely tied to its efforts in tech, finance and pharmaceuticals. (The Associated Press)
12. Washington, DC As home of the U.S. federal government, Washington’s two strongest categories are in Economics (13th) and Human Capital (9th).The index suggests that residents are among the most educated in the world which is a byproduct of many of them working in the public sector. Researchers add that "Unsurprisingly, the public sector plays an outsized role in the economy, resulting in Washington having one of the least diverse economies in the U.S." (AP)
11. Los Angeles, U.S. Coming in just outside of the top 10 is the city of angels, also known as Los Angeles. With the second-largest GDP at US$1.4 trillion, researchers say the city yields the second highest ranking in Economics. The index says LA is "best known for Hollywood and major studios like Paramount and
Warner Brothers," adding that Los Angeles also boasts healthy tech and high-end manufacturing sectors. However, the city ranks less favorably on its quality of life (173rd) due to natural disasters, low income equality and slow population growth. (The Associated Press)
10. San Francisco, U.S. From major corporate headquarters like Uber, Salesforce and Levi Strauss, San Francisco’s global ranking reflects a robust economy that benefits from having a large tech sector, researchers suggest. The city has generates an annual GDP of US$835 billion, but suffers when it comes to lower income stability, high crimes rates and high housing expenditures. (AP)
9. Tokyo, Japan As the highest ranked city in Asia, Tokyo is the third largest city in the world in terms of GDP (US$1.3 trillion). According to the index, some of its strengths include a large GDP, corporate headquarters, and a high life expectancy among residents. However, the index also notes that natural disasters and an older age profile are some of Tokyo's key weakness. (Bloomberg)
8. Boston, U.S. Boston owes its top 10 ranking to
its status as a hub for innovation and
technology, researchers say. The city has the 13th-largest GDP in the world, and the eighth-largest in per-person terms. Their annual GDP sits at US$650 billion. (AP)
7. Sydney, Australia According to the index, Sydney is the
financial capital of Australia and hosts a
large business services sector, as well as
key institutions like the Reserve Bank of
Australia and Australia’s stock exchange. With a GDP of US$384 billion, many of their strengths lie in a large foreign-born population and strong institutions. Weaknesses include high housing costs and an older age profile among most residents.
(AP)
6. Melbourne, Australia Melbourne ranks sixth overall in the
Global Cities Index, doing particularly
well in the Human Capital and
Economics categories, researchers say. With a GDP of US$324 billion, it is most notable for its many art galleries
and the fact that it hosts major sports
events—such as the Australian Open and
the Australian Grand Prix—Melbourne is
widely considered to be the cultural and
sporting capital of Australia. (The Associated Press)
5. Seattle, U.S. Entering the top five cities on this list is Seattle. According to the index, The city’s major tech sector—home to both Microsoft and Amazon—rivals those of any other city in the world. The city has a GDP of US$603 billion and widely regarded for having good air quality and high income per person. (AP)
4. San Jose, U.S. As home of major technology companies like Apple, Meta, Alphabet (Google) and Nvidia, San Jose has cemented itself at number four on this list. "With
technology firms generating significantly
higher GDP than most industries, San
Jose’s GDP per person is the highest of
all 1,000 cities," the index reads. The city rakes in an annual GDP of US$454 billion as researchers say the region attracts some of the "brightest minds around the globe." (Google Maps images).
3. Paris, France As one of the top tourist destinations in the world, Paris ranks third on this list with a GDP of US$994 billion. Researchers say the city is a leader in diplomacy, commerce, sciences, culture, and gastronomy. "Its cultural heritage
along with the presence of significant
historical landmarks have contributed
to making the city one of the top tourist
destinations worldwide, attracting
millions of visitors annually," according to the index. Paris is also ranked in the top 10 when it comes to quality of life and human capital. (AP)
2. London, United Kingdom The city of London holds the number two spot and has been marked by researchers as an "economic powerhouse" for its stature in business, science, technology, education and the arts. "London performs even better in
our Human Capital category, topping
all other cities in the rankings," the index reads. "This is, in part, due to the number of higher education institutions in the city, which helps it achieve one of the highest
rates of educational attainment in the world." London has a GDP of $US$1.0 trillion. (AP)
1. New York, U.S. Rounding out the list and once again holding the top spot is New York City. Experts say this region is a hub for finance, technology, advertising and media. It also notably ranks first in economics and has an annual GDP of US$2.5 trillion. "It has the largest metro economy in the world, nearly double that of the
next-largest city (Los Angeles)," the index reads. "Many people are attracted to the city for its world-class universities, cultural institutions, and the many head offices for multinational corporations."
(Bloomberg)
