News of housing crises, the exodus of workers and budget cuts tell a tale of the slow decline of American cities.
However, according to the latest Global Cities Index from research group Oxford Economics, six US cities are still the “leading engines of the global economy”.
New York, Los Angeles, San Jose, Seattle, San Francisco and Dallas topped the economy category of the index.
The index, produced annually by economic advisory firm Oxford Economics, ranks the 1,000 largest cities according to five categories: economy, human capital, quality of life, environment and governance.
The prosperity of cities is often viewed through the lens of their bustling financial centers, with New York, London, Singapore and Hong Kong typically topping global rankings.
However, the Oxford Economics index deliberately rates cities on a range of factors that contribute to overall economic vitality and potential for sustainable growth and development.
GDP growth, employment growth, economic stability, GDP per person and economic diversity were all measured alongside overall GDP size.
“Cities leading the Economy category are the engines of the global economy. In this category, American cities dominate,” the report said.
New York excelled in the economy category with a perfect score of 100, closely followed by Los Angeles. San Jose, the largest city in Silicon Valley, came in third and was highlighted as having the highest GDP per person globally.
Dallas is one of the main “engines of the global economy” in the world. Getty Images
A less expected entry into the top 10 was Dallas, which ranked sixth globally for economic vitality.
The Texan city has experienced the largest numerical population growth of any US metro area in recent years, and more than 175 companies have relocated their headquarters there since 2010, establishing it as one of the South’s economic powerhouses.
London, Paris and Tokyo are the only three non-US cities to crack the top 10. They trail U.S. cities for having the lowest levels of GDP per person, according to the report.
Chicago also made the list for its economic vitality, ranking eighth behind London.
However, while the six US cities may score high on the economy, they barely appear in the top rankings in the other four categories: human capital, quality of life, governance and environment.
Cities in Europe, New Zealand and Brazil have improved on factors such as income equality, life expectancy, air quality, civil liberties and business environment.
However, the report noted that “cities in North America are all clustered at the higher end of the rankings.”
New York, San Jose, Seattle, Los Angeles and San Francisco made the top 10 of Oxford Economics’ overall list of top global cities, with New York coming out on top.
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