Istanbul, Ankara not competitive

Istanbul, Ankara not competitive

ISTANBUL - Hürriyet Daily News
Istanbul, Ankara not competitive

Sun sets over Istanbul’s Golden Horn. The city ranked 74th in 120 cities according to a competitiveness survey.

Istanbul and Ankara, Turkey’s largest two cities in terms of population and economic activity, rated only 74th and 95th, respectively, among 120 cities worldwide in a competitiveness survey conducted by the weekly Economist.

“New York and London are rated as the world’s two most competitive cities, while cities from the United States and Western Europe account for 24 of the top 30 cities,” the report said.
These cities were followed in order by Singapore, Hong Kong, Paris, Tokyo, Zurich, Washington, Chicago and Boston.

Istanbul’s overall score was 45.5 out of 100 while Ankara’s was 40.9. New York, meanwhile, scored 71.4 overall.

U.S. and European cities are the world’s most competitive today despite concerns over aging infrastructure and large budget deficits, the report read, while Asia’s economic rise was reflected in the economic competitiveness of its cities.

The survey said that while economic size and growth were important for ratings, “several other factors determine a city’s competitiveness, including its business and regulatory environment, the quality of human capital and cultural aspects … Against this backdrop, we define ‘competitiveness’ as the demonstrated ability to attract capital, businesses, talent and visitors.”

The survey was commissioned by Citigroup.