Good news for post-pandemic Toronto — the city is poised to be a world-leading metropolis in years to come according to a report from Kearney, a global management consulting firm.
In their Global Cities Outlook (GCO) rankings — which determine "cities on the rise" — Toronto ranks second in the world, behind only London, U.K.
It's a huge improvement from being in 11th place last year and 17th place in 2016.*
Toronto's position in the GCO Ranking
"Toronto jumped an impressive 9 places to the number 2 spot, driven by a large upswing in innovation and continued strong governance," said the Kearney report.
Singapore, Tokyo, and Paris rounded off the top five in the GCO rankings.
The Global Cities Index ranking — which ranks the world's best cities as they are now — put Toronto in 19th place, between Melbourne and Moscow, quite a ways back from the #1 winner New York City.
The report explains that their GCO rankings examine the cities with "conditions for future status as major global players."
The consulting firm's analysis considers personal well-being, economics, innovation, and governance, all of which lead to attracting talent, attaining capital, and generating growth.
Even with COVID-19 affecting cities across the globe, it seems that Toronto is still a hot, rising commodity on the world stage.
Editor's note: This article has been updated.