Hanoi, the capital of Vietnam ranks 20th position of the global cities in term of “Economic Strength”. The Economist Intelligent Unit (EIU) said in its research report on Hot Spots-benchmarking global city competitiveneness released on March 12.
However, Hanoi stays in 104th position in overall score, the report showed. The Vietnam’s biggest City -Ho Chi Minh is listed in the 109th level.
New York, London and Singapore are the first, second and third in competitiveness for their demonstrated ability to attract capital, business, talent and tourists.
The report revealed that 11 of the top 30 cities are in Europe and 10 of the top 30 are the U.S cities.
Asian cities are reflected as the most competitive in term of Economic Strength with 15 out of the top 20 cities in the Economic Strength category are in Asia, including 12 Chinese cities.
The Global City Competitiveness- Hot Spots
EIU developed ” Global City Competitiveness Index” that measures 120 cities in the world based on eight categories of competitiveness and 31 individual indicators.
8 categories include economic strength, physical capital, financial maturity, institutional effectiveness, social and culture character, human capital, environment and natural hazards, global appeal, A city’s overall ranking in the benchmark Index is a weighted score of the underlying categories.
With combined population of 750 million, the 120 cities ranked in Hot Spots represent approximately 29 percentof the global economy and generated a combined GDP of $20.24 trillion in 2011.