toronto economy

Toronto is now one of the most economically influential cities on earth

It's getting harder and harder to deny that Toronto is a "world class city" — though haters surely will until the end of time.

The fast-growing capital of Ontario was just named one of the "most economically influential cities in the world" for 2020 by CEOWORLD Magazine in the publication's freshly-released ranking.

Toronto came in at spot number 10 this year, which doesn't sound great, until you consider that we're 10th out of 100 cities worldwide.

Vancouver and Montreal, the only other Canadian cities to make the list, came in at spots 65 and 72 respectively.

So what makes a city one of economic influence?

CEOWORLD explains that its ranking is "an objective analysis of the competitiveness of major urban centers" based on five core indices: economic power (overall economic activity), financial clout (strength of a city's finance and banking industries), people (political and demographic influence), quality of life and overall competitiveness.

London, New York and Tokyo took the top three spots, but Toronto fared decently, particularly in the category of "economic clout" thanks to our many banking institutions and strong financial sector.

"Interestingly, the top 100 cities generate roughly half of the globe’s total economic output and the top twenty-five accounts for more than 30 percent of global economic production," writes CEOWORLD of the ranking, which you can see in full right here.

Below are the top 10 most economically powerful cities in the world, per the newly-released CEOWORLD ranking.

  1. London
  2. New York
  3. Tokyo
  4. Paris
  5. Singapore
  6. Berlin
  7. Shanghai
  8. Brussels
  9. New Delhi
  10. Toronto
Lead photo by

Ronnie Yip


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