Zurich tops the ranking and Madrid is ranked 28th
The Basque city is the only Spanish city in the top-20 of the world's most prosperous cities, according to a study by the strategic consulting firm D&L Partners. Madrid didn’t make the top twenty, but it is not the only large capital in the world that has been excluded. According to the Spanish newspaper, El País, New York, London and Paris also haven’t featured at the top in a report that not only measures the city's financial capacities, but also its inclusive economy. Being the richest region is not always synonymous with well-being.
The study commissioned by the Government of Biscay and the Bilbao City Council shows that to measure the economic development of a city, it is no longer enough just to apply traditional indicators. In this sense, he qualifies these barometers as "poor" and explains that the GDP, for example, does not calibrate the inequality that exists between citizens and that it has increased since the great recession of 2007.
The complete ranking is made up of a total of 113 cities and takes into account the quality of economic growth, not just its magnitude. Zurich is the first to appear on the list. The Swiss city stands out for its quality of life, work, housing, safety and education. The top 5 is completed by Vienna, Copenhagen, Luxembourg and Helsinki.
The reality is that this report does not speak very highly of large European cities. In fact, we have to go all the way down to 18th place to find Berlin as the first European representative in this group. Madrid (28th) or Paris (32nd) and others such as London (33rd) are very far away. Globally, the United States sees three cities in the top 20: Washington (11), Seattle (14) and Boston (16). A Canadian city also managed to sneak in: Ottawa, in 8th place.
In national terms, Bilbao is the first Spanish city in this prosperity ranking. The Biscayan capital appears at number 20 in the world and achieves this rating thanks to the ability of administrations to achieve a society without inequality.