New York City ranks first among 120 cities across the globe in attracting capital, businesses and tourists, according to an Economist Intelligence Unit report commissioned by Citigroup Inc. (C)
London was the second most-competitive city, followed by Singapore, with Paris and Hong Kong tied for fourth place, according to the report, which was released today. Among U.S. cities,Washington, Chicago and Boston made the top 10.
The report cited New York’s diverse economy, driven by media, arts, fashion, technology and finance. In 2010, New York was second only to California’s Silicon Valley as a source of venture capital in the U.S., according to the report.