• City of Manila lags in future competitiveness

    0

    The City of Manila lags behind other cities in terms of future competitiveness, a report released by the Economist Intelligence Unit showed.

    In the report “Hot Spots 2025 Benchmarking the Future Competitiveness of Cities,” the capital city of the Philippines placed 79th out of 120 cities in the Overall 2025 City Competitiveness Ranking.

    However, the Citi-commissioned report also showed that Manila scored 47.1 percent, or an improvement of 12 places from its last year spot.

    In the report, the Economist Intelligence Unit explained that a city’s competitiveness was defined as its ability to attract capital, businesses, talent and visitors.

    “The 2025 City Competitiveness Index benchmarks the competi­tiveness of 120 cities across the world at two distinct points in time: today and in 2025,” it said.

    New York ranked No.1 and emerged as the most competitive city today and will remain so in 2025, while London was at No. 2.

    In Asia, Singapore ranks third overall in the Index and is the highest-placed Asian city.

    Other Asian cities that performed well are Hong Kong (No. 4), Tokyo (No. 5), Taipei (No. 11), and Seoul (No. 15).

    The report examined 32 indicators for each city—economic strength, physical capital and financial maturity, institutional character and human capital, global appeal, social and cultural character, and environment and natural hazards.

    In addition, the report said Asian cities dominate the economic strength category of the City Competitiveness Index.

    “Asia’s economic rise is reflected in the competitiveness of its cities in 2025,” it said.

    The report measures how fast a city grows, how rich or poor its citizens are and how well a city is integrated into the global economy.

    May U. Caravallo

    Share.