Vancouver has been named one of the most promising economic and investment locations of the future for North America.
The Financial Times fDi Magazine recently released its list of the best North and South American cities for foreign direct investments (FDI) for 2021/2022, and Vancouver ranks among the top cities in North America in multiple categories.
And fDi named Vancouver #1 in its Top 10 Large Americas Cities of the Future 2021/2022. Cities in this category must have an immediate city population of more than 500,000 plus a Larger Urban Zone (LUZ) population of more than 1 million. Vancouver’s population currently stands at more than 675,000, while the Metro Vancouver area population is around 2.5 million.
The report points out that almost 36% of Vancouver’s inward FDI projects in the period analyzed were in the software and IT services sector, and the city ranked first in North America for high-tech software job growth in 2020. That same year, Amazon announced it would add another 3,000 jobs at its Vancouver technology hub.
“The city’s success this year is explained by its appearance among the top 10 across almost every category studied,” the report states.
For the ranking, data was collected using fDi’s special online tools – fDi Benchmark and fDi Markets. The locations were then benchmarked according to five main categories – Economic Potential, Business Friendliness, Human Capital and Lifestyle, Cost Effectiveness, and Connectivity.
Vancouver ranked first in large cities for Business Friendliness, second for Economic Potential, sixth for Human Lifestyle and Capital, and fifth for Connectivity.
“Vancouver’s position as a global hub city with a diverse and dynamic population has shaped us into a welcoming progressive place that continually looks to the future,” said Vancouver Mayor Kennedy Stewart.
Published on July 2, 2021.