Ottawa Places First in Global Economic Development Ranking

By Epoch Times Staff
Epoch Times Staff
Epoch Times Staff
August 22, 2013 Updated: August 22, 2013

Ottawa ranked first place in a study that compared 61 cities worldwide based on the “three T’s” of economic development—technology, talent, and tolerance—along with a fourth measure indicating amenities and the quality of the city as a desirable place to live. 

The nation’s capital received high grades in all four categories and the highest talent grade of all the cities, according to the study report from the Global Cities project at the University of Toronto. 

The talent category includes such metrics as education spending, educational institutions, and educated population.

The project is part of the work of the Martin Prosperity Institute at the university’s Rotman School of Management to examine the potential for economic growth in different regions. 

Seattle ranked second, receiving the highest grades in technology and in amenities and quality of life. Other cities in the top 10 are Oslo, ranked third; District of Columbia and Amsterdam, ranked fourth; Tel Aviv-Yafo, Copenhagen, and London, ranked sixth; and Calgary and New York-Newark, ranked ninth.

The Global Cities project also aims to better understand the worldwide competition for talented individuals, defined as those who are skilled, educated, or entrepreneurial and thus considered a central force in economic advancement.

“With the growth of the creative economy, the global competition for talented, skilled people has intensified,” the report stated. 

“This competition for people is complex in its nature, but understanding, ranking, and comparing cities from around the world helps us to better comprehend the global competition for talent.”

The study found that, despite having an abundance of talented people, many cities researched received very low tolerance grades, such as in terms of being open to new ideas and accepting different cultures, religions, and ways of life. 

Meanwhile, the report noted that tolerance is a crucial attribute in attracting creative and innovative workers.

According to the institute, while technology is the key to economic growth, “The places that are most open to new ideas that attract talented and creative people from across the globe broaden both their technology and talent capabilities, gaining a substantial economic edge.”

Moreover, in terms of what defines a place and makes it attractive, the institute states that “Successful places provide a range of quality of place options for different kinds of people at different stages in their lives.

Epoch Times Staff
Epoch Times Staff