TORONTO, May 6 /CNW/ - Toronto has leapt into the number two spot in the
world in the just-released PwC survey of "Cities of Opportunity" - the
consultancy's fourth analysis "of the trajectory of 26 cities, all
capitals of finance, commerce and culture." New York is slightly ahead
of Toronto in first place, while San Francisco, Stockholm and Sydney
round out the top five.
In its analysis, PwC ranked cities in ten categories - measures
designed, as PwC describes it, to favour "holistic capital market
centres with vibrant economies and strong quality of life." According
to PwC, "Our thesis is that a successful city going forward will
balance both social and economic strengths so the people and
infrastructure support each other."
Toronto ranks particularly highly in two of the categories most closely
correlated with global competitiveness: Intellectual Capital &
Innovation (2nd) and Health, Safety & Security (2nd). "The successful modern urban economy," says PwC, "is reliant on, if
not yet solely the product of, intelligence and social well-being."
Toronto also ranks highly on Demographics and Liveability (#3),
Lifestyle Assets (4th), Ease of Doing Business (5th), Sustainability (5th) and Cost (5th).
"These findings confirm our view that Toronto's real strength lies in
its quality of life which serves as a powerful magnet for the talented
people we must rely on if we are to continue to be a leading financial
services centre," said Janet Ecker, President, Toronto Financial
The PwC report sums up with the observation that, "to sustain success,
cities today must continually attract and retain highly educated,
technologically adept and digitally connected knowledge workers who
increasingly make up the core of their human capital and whose
definition of quality of life is exacting and not easily compromised…
More than a centre of global business and finance alone, Toronto is a
community in which people want to live and expect to lead rich and
Earlier this year, Toronto was ranked for the first time in the top ten
on another closely followed index, the Global Financial Centres Index.
Toronto was tied with Sydney, Australia, on the list, which was
published in March. Toronto is also ranked among the top ten global
financial centres by Britain's influential financial magazine, The Banker.
About Toronto Financial Services Alliance
The Toronto Financial Services Alliance is a growing public-private
partnership dedicated to increasing Toronto's role as a global
financial services hub. Established in 2001 by the City of Toronto in
partnership with the financial industry, TFSA works on behalf of the
entire financial cluster, including its business and educational
support sectors. With both the federal and provincial governments now
joining the partnership, TFSA has established the Global Risk Institute
in Financial Services to leverage the sector's global reputation for
stability, as well as the Centre of Excellence in Financial Services
Education to capitalize on Toronto region's human capital advantages.
SOURCE Toronto Financial Services Alliance
For further information:
Brian Smith, tel. (416) 822-3130