The Economist Intelligence Unit has released its rankings of the 120 most economically competitive cities in the world [PDF
], and Miami, just one of 12 American cities to make the list, shot up 10 spots this year. Miami in fact now ranks 40th overall.
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The list ranks cities based on their competitiveness, defined as their "ability to attract capital, businesses, talent and visitors." The rankings also take into account economic strength, physical capital, financial maturity, institutional character, human capital, global appeal, social and cultural character, and environment and natural hazards.
Miami ended up with a score of 56.5 out of 100, and found itself ranked 40th right between Abu Dhabi and Tel Aviv. That's an increase of 10 spots since the last list.
Though, several other American cities on the list ranked higher: New York (1), Chicago (9), Washington, D.C. (14), Los Angeles (17), San Francisco (18), Boston (19), Houston (27), Dallas (32), Atlanta (33), and Seattle (35). Only Philadelphia ranked lower at 48, but we suppose that's better than not making the list at all. Sorry, Tampa.