Innovative platforms for civic engagement, a strong learning environment and a vibrant culture help lift Toronto (11th) ahead of world capitals including New York City (17th), Munich (23rd), Hong Kong (#25) and Tokyo (#32) on a list of the world's most 'future-ready' economies.

IHS Economics developed the Future Ready Economies list based upon insights and criteria developed at the 2015 Strategic Innovation Summit: Enabling Economies of the Future, hosted by Harvard University and sponsored by Dell. The study examines infrastructure, commerce and human capital in order to gauge the level of preparation for growth of major cities around the world.

We're very confident these cities will grow faster in the next five to ten years than most other cities

– James Diffley, IHS Economics Group Managing Director for U.S. Regional Services.

How do we know Toronto is ready for the future?

There is compelling evidence that the city will continue to lead the world in sustainability, growth and quality of life.

In addition to billions earmarked for building schools and hospitals and repairing highways and bridges, Toronto continues to lead global cities through innovative programs to improve energy efficiency. These have led to international awards and Toronto being named North America's most sustainable city.

Why Cisco chose Toronto as the location of its first North American Innovation Centre

Top talent flocks to the world's most liveable city

Toronto is renowned for its diversity. With about half of its population foreign-born, it is one of the most multicultural cities in the world. Toronto leverages its diversity and creativity through innovative platforms for engaging the public in improving the community, which earns the city the third highest marks for civic engagement. The city also benefits from a robust learning environment, featuring several top-ranked universities and colleges, including the University of Toronto, which contributes $15.7 billion to the economy annually, and has created 59 companies in the last three years alone.

'Brain Prize' winner, Dr. Graham Collingridge on why he moved to Toronto

Toronto is a top 10 global finance centre and the commercial capital of Canada

Toronto generates nearly 20% of Canada's GDP. As a percentage of national GDP, that is more than New York, Boston, Chicago, San Francisco and Miami combined contribute to the U.S. economy. It is no wonder then that Toronto is one of the largest and fastest growing financial services centres and an emerging financial technology hub. As authors of the report state, "commerce thrives in the most collaborative environments."

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April 20, 2016

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