Toronto ranked one of the world's best city brands
Everyone knows how important branding is nowadays — whether you're a business or a public figure, having a consistent, recognizable brand is often integral to success. And as far as brands go, Toronto apparently has one of the best ones of any city in the world.
It is the only Canadian locale and one of only three North American cities that landed in the top ten.
The U.S.-based institution estimates Toronto's competitive "brand value" to be around $773 billion USD, while somewhere like New York, which came in first place, has a brand value of approximately $2.2 trillion.
Factors like global reputation, economy, talent, culture, governance and environment were taken into account for the assessment, which considers a city's utility to potential "customers" to be one of its more important but less tangible assets. Five hundred cities across the globe were ranked in the study.
"In the era of globalization and information technology, the promotion of a city brand becomes unprecedentedly critical," the report reads. "The brand value of a city directly affects the flow of capital, information, commodity and talent."
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