Toronto has moved into second place overall in a study of the most promising investment locations in the Americas by fDi Intelligence – a specialist publication from the Financial Times. This ranking reflects Toronto’s rising stature as an international centre of investment, commerce, trade, development, and innovation.
Despite the COVID-19 global pandemic, Toronto moved up from third to second place in the 2021/2022 Americas Cities of the Future overall ranking and in the Economic Potential and Business Friendliness categories.
Toronto also made it into the top 10 for the Human Capital and Lifestyle category and moved from seventh to sixth place in the Connectivity category.
“This ranking confirms that Toronto is one of the best places for businesses to invest, build, expand and succeed”, Mayor John Tory said in a press release.
“Toronto is the economic engine of Canada and I’m confident that our city will come back stronger than ever in the years ahead because of the work we are doing to build our city up and continue to attract people and businesses”, he adds.
The cities of Toronto and Montreal are the only Canadian cities to appear in the overall top-10 ranking.
Meanwhile, Mississauga once again takes home the title of fDi’s Mid-Sized Americas City of the Future. Mississauga also came in second for both Economic Potential and Business Friendliness, and third for Connectivity.
For Mississauga Mayor Bonnie Crombie, “it’s an absolute honour to once again hold on to our ranking of top Mid-Sized American City of the Future – it’s simply a testament to Mississauga’s prosperous and sustainable economy”.
The city in fact experienced an increase in foreign investment project numbers in 2020 compared to 2019, according to fDi Markets data, making it a unique case in the context of Covid-19 and its impact upon FDI figures across the region.
New York once more heads the field, retaining its status as a magnet for foreign investors. More broadly, the top 10 Americas Cities of the Future are all North American, proving the region has fared better overall during the pandemic and is well positioned to experience a faster recovery.
