Vancouver has been included in a recent ranking of the 100 best cities in the world.
Resonance Consultancy--a global advisor in real estate, tourism, and economic development--has announced the world’s 100 top-performing cities in their annual World’s Best Cities Report.
“The World’s Best Cities rankings are composed of experiential factors that people consider most important in choosing a city to live and visit, as well as empirical factors that business decision-makers consider important for business or investment,” says Resonance President & CEO Chris Fair.
Ranked 34th in the world, report authors note that Vancouver's "people" and its "university" are two of the Canadian city's highlights.
The report also calls Vancouver gorgeous, as well as the "Asian city outside of Asia" but remarks: "Too bad about the price of entry."
In respect to the city's housing market, report authors write: "Always on the lookout for foreign investment, various incarnations of provincial and federal governments made citizenship available to foreigners with sufficient capital, with little oversight on taxing outside funds. As such, Vancouver’s housing prices are now mostly hitched to a global context, largely decoupled from local wages."
Toronto was the lone Canadian city ahead of Vancouver in the ranking, in 13th. The report mentions how, "Economic growth, fuelled by immigration and global investment, have Canada’s largest city poised for big things."
No Canadian cities cracked the ranking's top ten, which was dominated by European cities like Pairs, London, Barcelona and Madrid. The United States also made it to the top of the list, with New York City and Los Angeles.
In fourth, Moscow was the lone Russian city in the top ten, while Tokyo, Japan came fifth. Dubai followed in sixth, with Singapore in seventh.
World's Best Cities
- London, England
- New York City, USA
- Paris, France
- Moscow, Russia
- Tokyo, Japan
- Dubai, United Arab Emirates
- Singapore, Republic of Singapore
- Barcelona, Spain
- Los Angeles, USA
- Madrid, Spain
And why does a ranking of the world’s cities matter now?
“The data collected for this year’s rankings provides a snapshot of the performance of these cities leading into the pandemic,” says Fair. “A year from now, we’ll be able to look at how COVID-19 has affected each of these cities and see which ones prove to be the most resilient during this crisis.”
Fair notes that the planet’s large cities—with metropolitan statistical area (MSA) populations of more than a million people—face imminent and myriad challenges that will define their next decade and beyond.