The collaborative nine-year effort by PwC and the Partnership for New York City that led to developing Cities of Opportunity began in the wake of 9/11. The enormous impact on companies and citizens caused a reassessment of what needed to be done to keep New York - and, by extension, other cities like it -vibrant engines of a globalizing economy.
Where do cities stand today? What direction might they go in? What key ingredients will be needed to keep cities strong? What factors make a city more resilient to withstand events like the recent economic crisis? Which cities are actually doing things correctly, and what can be learned?
The third edition of this PwC report answers these questions and takes steps ahead - expanding and changing the mix of 21 cities, enriching the data with more variables, and complementing the quantitative nature of the report with insight from world authorities on the issues from business, government, and culture. In addition, the Cities of Opportunity website allows users to model the data interactively, enabling comparison of one or more cities with any selection of variables. Readers will also find complete texts of the interviews that have been condensed in the printed study.
Three key factors governed the cities chosen:
• Capital market centers: Many of the cities included are hubs of commerce, communications, and culture. But all are financial capitals of their region - meaning each plays an important role not only locally but also as a vital part of a globalizing economic fabric.
• Distributed over a broad geographic sampling: While each city is a center of finance and commerce in its own region and in many cases the world, collectively the 21 cities form a representative international distribution.
• Balanced between mature and emerging economies: 12 mature cities and nine newly growing ones are included.
The study's result is an unbiased, quality controlled, and a rich look at the pulse of key cities at the heart of the financial, commercial, and cultural world.