[ganjavih]

http://ca.finance.yahoo.com/personal-finance/article/forbes/794/worlds-most-economically-powerful-cities

EXCERPT:

Toronto, Canada
GDP (2005): $209 billion
GDP (2020): $327 billion
Growth rate: 3%
MasterCard ranking: 13
Population (2007): 5,213,000
Purchasing power (NYC=100): 113.8%

Toronto only narrowly edged out Madrid, Spain; Philadelphia and Mexico City, Mexico, to hang on at No. 10. Toronto is still the economic heart of one of the world's wealthiest countries, and it's projected to keep humming through 2020. Along with London, Toronto is the fastest growing G7 financial center.

 

[CGM]

There is one reason why we need higher density office towers connected to PATH, GO and TTC
The Top 10 list link does not work... anybody have the ranking?

 

[CDL.TO]

Toronto's #10, but why does the thread title say #13?

 

[Hydrogen]

The text included in the slideshow states that the Mastercard ranking of Toronto was 13th. A bit confusing.

 

[PukeGreen]

The Toronto Star had a better article, and the full list in the sidebar (I'll also copy that below).

http://www.thestar.com/article/473681


FORBES TOP 10

1. London: By 2020, it's expected to leapfrog Paris to become Europe's richest city as measured by gross domestic product.

2. Hong Kong: Benefits from its physical proximity to the Chinese mainland and its historical connection to Western markets.

3. New York: Only 14 countries have bigger economies.

4. Tokyo: One of the world's most populous cities also has the largest economy.

5. Chicago: Faces competition from Los Angeles, which has a bigger population and economy.

6. Seoul: Like Hong Kong, Seoul benefits from a growing Asia and Western-oriented markets.

7. Paris: Its economy is bigger than London's, but sluggish growth has it losing ground.

8. Los Angeles: On course to become the world's third city with a trillion-dollar economy.

9. Shanghai: Its economy could more than double between 2005 and 2020.

10. Toronto: Narrowly edged out Madrid, Philadelphia and Mexico City. The economic heart of one of the world's wealthiest countries, Toronto is projected to keep humming through 2020.

 

[TrickyRicky]

Impressive given Forbes has no reason to bias in favour of Toronto. Well enjoy the ranking while it lasts, I doubt Toronto will rank in the top 20 or 25 by 2020 no matter what we do.

 

[christiesplits]

I'd love to see how the Fraser Institute spins this...

 

[Dichotomy]

Considering Canada's economy is the 10th largest in the world, I would say Toronto's spot (as premier city in Canada) is to be expected - no more, no less.

 

[cabbagetowner]

it's something to be proud of. not only because it's economically powerful but also it's a great city to live in!

 

[Whoaccio]

Considering Canada's economy is the 10th largest in the world, I would say Toronto's spot (as premier city in Canada) is to be expected - no more, no less.

We are actually the 13th largest economy, 14th if you listen to the World Bank.

1. USA
2. PRC
3. Japan
4. India
5. Germany
6. UK
7. Russia
8. France
9. Brazil
10. Italy
11. Spain
12. Mexico
13. Canada (South Korea, according to the world bank)
14. South Korea (Canada, according to the world bank).

Also, the GDP of each country really drops off after Japan (4.3t-2.8t). Logically, cities like Osaka or Beijing had a good shot at ranking. The USA also had 3 cities on the list. In effect Toronto beat out Mexico City, Sao Paulo, Rome, Berlin, Frankfurt, Mumbai & Madrid as cities in countries w/GDPs larger than Canada.

 

[CGM]

^... That's pretty good given that Canada's population is 50% + smaller than the next country on that list (Spain)

 

[Dichotomy]

We are actually the 13th largest economy, 14th if you listen to the World Bank.

1. USA
2. PRC
3. Japan
4. India
5. Germany
6. UK
7. Russia
8. France
9. Brazil
10. Italy
11. Spain
12. Mexico
13. Canada (South Korea, according to the world bank)
14. South Korea (Canada, according to the world bank).

Also, the GDP of each country really drops off after Japan (4.3t-2.8t). Logically, cities like Osaka or Beijing had a good shot at ranking. The USA also had 3 cities on the list. In effect Toronto beat out Mexico City, Sao Paulo, Rome, Berlin, Frankfurt, Mumbai & Madrid as cities in countries w/GDPs larger than Canada.

Not sure which site you checked, but when I look at the world bank's own website, Canada is listed as #9 in terms of GDP. The IMF and CIA data also rank Canada as 9th. That actually makes Toronto look worse, not better.

 

[Whoaccio]

You are looking at nominal GDP as opposed to GDP by Purchasing Power Parity. As PPP more accurately reflects the ability of a nations economy to purchase goods & services, I feel it is a better measure.

 

[caltrane74]

You are looking at nominal GDP as opposed to GDP by Purchasing Power Parity. As PPP more accurately reflects the ability of a nations economy to purchase goods & services, I feel it is a better measure.

If you feel it is a "better measure", then you should have stated as such when you reposted the list from the World Bank. -

 

[Whoaccio]

If you feel it is a "better measure", then you should have stated as such when you reposted the list from the World Bank. -

Yea... I was ambiguous, hence why I clarified the confusion. I don't really see the big deal. In case it still isn't clear, using the PPP valuation method (which measures the purchasing power of a nation's economy), Canada has the 13th largest sovereign economy in the world (excluding the Eurozone) according to the IMF & CIA while the World Bank ranks us as the 14th largest economy. PPP is a superior valuation to nominal figures as it accounts for differences in the purchasing power of each economy, better measuring it's ability to consume.

GDP (PPP) (in million of international dollars), World Bank Figures
1 United States 13,811,200
2 China 7,055,079
3 Japan 4,283,528
4 India 3,092,126
5 Germany 2,751,843
6 Russian Federation 2,088,207
7 United Kingdom 2,081,549
8 France 2,053,695
9 Brazil 1,833,601
10 Italy 1,780,135
11 Spain 1,372,717
12 Mexico 1,345,530
13 Korea, Rep. 1,199,270
14 Canada 1,178,205
15 Turkey 902,619

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

http://siteresources.worldbank.org/DATASTATISTICS/Resources/GDP_PPP.pdf

http://www.imf.org/external/pubs/ft/weo/2008/01/weodata/weorept.aspx?sy=2007&ey=2007&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512%2C446%2C914%2C666%2C612%2C668%2C614%2C672%2C311%2C946%2C213%2C137%2C911%2C962%2C193%2C674%2C122%2C676%2C912%2C548%2C313%2C556%2C419%2C678%2C513%2C181%2C316%2C682%2C913%2C684%2C124%2C273%2C339%2C921%2C638%2C948%2C514%2C943%2C218%2C686%2C963%2C688%2C616%2C518%2C223%2C728%2C516%2C558%2C918%2C138%2C748%2C196%2C618%2C278%2C522%2C692%2C622%2C694%2C156%2C142%2C624%2C449%2C626%2C564%2C628%2C283%2C228%2C853%2C924%2C288%2C233%2C293%2C632%2C566%2C636%2C964%2C634%2C182%2C238%2C453%2C662%2C968%2C960%2C922%2C423%2C714%2C935%2C862%2C128%2C716%2C611%2C456%2C321%2C722%2C243%2C942%2C248%2C718%2C469%2C724%2C253%2C576%2C642%2C936%2C643%2C961%2C939%2C813%2C644%2C199%2C819%2C184%2C172%2C524%2C132%2C361%2C646%2C362%2C648%2C364%2C915%2C732%2C134%2C366%2C652%2C734%2C174%2C144%2C328%2C146%2C258%2C463%2C656%2C528%2C654%2C923%2C336%2C738%2C263%2C578%2C268%2C537%2C532%2C742%2C944%2C866%2C176%2C369%2C534%2C744%2C536%2C186%2C429%2C925%2C178%2C746%2C436%2C926%2C136%2C466%2C343%2C112%2C158%2C111%2C439%2C298%2C916%2C927%2C664%2C846%2C826%2C299%2C542%2C582%2C443%2C474%2C917%2C754%2C544%2C698%2C941&s=PPPGDP&grp=0&a=&pr.x=48&pr.y=17


Clear enough?