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Way to go!
Toronto's stock is rising in the world of international finance. The city moved up one place to 11th in the latest Global Financial Centres Index report, published twice a year by the City of London. This time last year, the city was 15th and Carol Wilding, the president of the Toronto Board of Trade, expects the upward trend to continue in the next few years. "A top-10 ranking is within reach. The real question is how high within the top 10 can we go," she said. The index uses surveys of market regulators, collected since 2006, to produce a rating for each of the 62 centres assessed. To breach the top 10, Toronto, with 615 points, must catch Dublin or Boston, tied for eighth with only three points more. London tops the list with 781 points more than New York, "the only two truly global centres," according to the report. http://217.154.230.218/NR/rdonlyres/...C_RS_GFCI5.pdf
I am little bit concerned about this position ocupied by Toronto, if I have to think about this chrisis. In my oppinion the things gets worst rather we accept or not.
Look at who is ahead of Toronto... Frankfurt, Boston and even Dublin... When Toronto surpasses Chicago (#7) then we will have something to crow about in Canada...
Look at who is ahead of Toronto... Frankfurt, Boston and even Dublin... When Toronto surpasses Chicago (#7) then we will have something to crow about in Canada...
Considering the population of Toronto is several times the size of those cities, I agree.
this whole ranking is completley irrelevant. What matters is the GDP of a city, not what some organization based in London (coincidence, look at number 1) thinks.
this whole ranking is completley irrelevant. What matters is the GDP of a city, not what some organization based in London (coincidence, look at number 1) thinks.
I think they are referring to ranking how influential each city is in the world economy.
Look at who is ahead of Toronto... Frankfurt, Boston and even Dublin... When Toronto surpasses Chicago (#7) then we will have something to crow about in Canada...
At least as interesting is which cities are behind (Tokyo, San Francisco, Paris) and which are ranked essentially co-equal (Guernsey, Jersey, Luxembourg).
Appendix A describes the methodology behind it, and is worth a read if you want to get beyond kneejerk "are they serious?" reactions. Any such model will attract criticism (is a city's rank as a tourist destination really an indicator of financial industry heft?), but it is not without its points of interest as well.
In particular, I was intrigued by its implicit case for the influence of the higher quality global corporate and personal tax havens: Dublin, Guernsey, Jersey, Luxembourg, Dubai.
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