These 6 US cities are the greatest ‘engines of the global economy,’ beating financial hubs like London and Singapore, a study of 1,000 cities worldwide finds

The index, which Oxford Economics produces annually, ranks the 1,000 largest cities in the world by five categories: economics, human capital, quality of life, environment, and governance.

Cities with busy financial centers are often viewed as prosperous, with New York, London, Singapore, and Hong Kong typically leading global rankings.

However, Oxford Economics assesses cities based on a range of factors that contribute to their overall economic vitality and their potential for sustained growth and development.

GDP growth, employment growth, economic stability, GDP per person, and economic diversity were all measured in addition to overall GDP size.

“The cities topping the Economics category are the engines of the global economy. In this category, American cities dominate,” the report says.

New York excelled in the economics category with a perfect score of 100, followed closely by Los Angeles. San Jose, the largest city in Silicon Valley, came in third place and was highlighted as having the highest GDP per person globally.

Dallas was a more surprising entrant in the top 10. Oxford Economics ranked it sixth globally in its economics category.

The Texas city has experienced the largest population increase of any US metro area in recent years. More than 175 companies have moved their headquarters there since 2010, making it one of the economic powerhouses of the South.

London, Paris, and Tokyo were the only non-American cities to crack the top 10. They trail the US cities because of their lower levels of GDP per person, according to the report.

Chicago also made it onto the economics list, coming in eighth after London.

Though US cities scored high in the economics category, they barely appeared in the top rankings for the other four categories: human capital, quality of life, governance, and environment. 

Cities in Europe, New Zealand, and Brazil were ranked higher on factors like income equality, life expectancy, air quality, civil liberties, and business environment.

Nonetheless, the report said that “cities in North America are all clumped at the higher end of the rankings.”

New York, San Jose, Seattle, Los Angeles, and San Francisco ranked in the top 10 of Oxford Economics’ list of top cities by overall score, with New York coming out on top.