The City of Buenos Aires is the most competitive city in Latin America according to a new report from Citigroup and The Economist Intelligence Unit (EIU). Hot Spots: Benchmarking Global Competitiveness ranks the competitiveness of 120 of the world’s major cities based on their demonstrated ability “to attract capital, business, talent and visitors.”
The Citi For Cities report ranks metros based on eight major categories impacting competitiveness including economic strength, physical capital, human capital and global appeal. Those criteria combined with EIU interviews with mayors, city experts and corporate executives gave BA an overall score of 49.2 making it the most competitive city in Latin America.
The other regional cities rounding out the LatAm Top Five are Sao Paulo (48.3), Santiago (46.7), Mexico City (46.2) and Rio de Janeiro (44.9). The two Brazilian metros, Mexico City and Buenos Aires all made Citi’s Global Megacities ranking last year. While Hot Spots acknowledges Latin cities lag the most in competitiveness, Buenos Aires was the only Latin American metro in the top half of the global ranking led by New York(#1), London (#2) and Singapore (#3).
Not surprisingly, Buenos Aires (21.0) fared best in the “Global Appeal” category which placed the city in the same league as Rome (21.7), Stockholm (21.2), Los Angeles (20.5) and Dubai (20.0). Compared to other major metros, BA’s global appeal has much to do with the city’s quality of life, low cost of living, thriving arts scene, tourism boom and positive environment for entrepreneurs.
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