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Cities are crucial to economic development. Economists increasingly argue that clustering, concentration, and density are as important as land, labour, and capital when it comes to shaping economic growth, reports US magazine The Atlantic.
This map shows the ten most economically powerful' cities, according to an index developed at the Martin Prosperity Institute at the University of Toronto.
The index combines three key aspects of a city's economic influence: its economic output, its financial power (based on the Global Financial Centers Index), and innovation, based on the level of patent activity in the city. In each case, the icons highlight the most important drivers of each city's power.
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Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
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Average UK house price reaches £300,000 for first time, Halifax saysWhile the average house price has topped £300k, regional disparities still remain, Halifax finds.
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Barings Emerging Europe trust bounces back from Russia woesBarings Emerging Europe trust has added the Middle East and Africa to its mandate, delivering a strong recovery, says Max King
