Chicago: how well does the “Windy City” perform in international rankings that study the competitiveness of cities in terms of attractiveness for talent, innovation, and business? Does Chicago have a chance at beating its national rivals New York and San Francisco? How well does it fare in terms of sustainability, city brand strength and reputation, according to leading rankings and indices?
Let’s take a closer look at:
- Economic competitiveness and financial performance
- City brand strength and global attractiveness
- Livability: how attractive for talent, visitors, locals?
Economic competitiveness and financial performance
How attractive is Chicago as a place to work and do business?
The Global Financial Centres Index 34 ranks Chicago 9th, falling one position from the previous ranking. It is currently sitting between Washington D.C. (8th) and Geneva (10th). The city holds a strong standing in the following areas of competitiveness: Human Capital (11th), Reputational & General (11th), Financial Sector Development (15th), and Business Environment (15th). It also performs very well in the following industry sectors: Fintech (9th), Professional Services (12th), Government & Regulatory (13th), Finance (13th), Trading (13th), Investment Management (11th), Banking (13th).
Notably, Chicago holds the fifth place in the North American region, sitting right behind New York City.
According to 2thinknow’s Innovation Cities Index 2022-2023 Chicago ranks 12th, a drop of three positions from the previous ranking. The city is now en par with Berlin (11th) and Stockholm (13th).
City brand strength and reputation
Resonance’s 2023 World’s Best Cities Report ranks Chicago 16th, scoring the following in the Place Power Highlights: 1st in Walk Score, and 7th in Airport Connectivity. It currently sits in between Los Angeles (15th) and Washington DC (17th).
Kearney’s 2023 Global Cities Report ranks it 11th, falling four positions compared to last years’ publication. Chicago ranked 43rd in the Global Cities Outlook, when last year it held the 53rd position.
The Global Power City Index ranks Chicago 25th. In terms of function-specific rankings, the city ranks 22nd in terms of Economy, 8th in R&D, 28th in Cultural Interaction, 46th in Livability, 34th in Environment, and 15th in Accessibility. Admirably, Chicago ranks 8th in terms of most award winners in Science and Technology. Lastly, it positioned 27th in the Highly-skilled Workers, 26th in the Corporate executive, 40th in the Resident and 33rd in the Tourism categories.
According to Brand Finance’s City Index 2023, Chicago ranks 15th in the global ranking with a score of 72.2/100, sitting in between Rome (14th) and Melbourne (16th).
Livability: how appealing for talent, visitors, locals?
The Mercer Quality of Living City Ranking places Chicago 65th tying with Philadelphia. The same firm’s Cost of Living Ranking ranks it 24th, in between Washington D.C. (23rd) and Vienna (25th). The cost living survey reports that factors such as currency fluctuations, cost inflation for goods and services, and instability of accommodation prices are key to determine the cost of expat packages for employees on international assignment.
According to the Best Urban Cities for Digital Nomads ranking by Spot a Home, Chicago fares 24th out of 56 global cities – right between Buenos Aires (23rd) and Dublin (25th).
The Arcadis Sustainability City Index 2022 ranks it 52nd overall, sitting in between Milan (51st) and Atlanta (53rd). Chicago’s pillar rankings are the following: Planet 67th, People 70th, Profit 8th.
According to The Times Higher Education ranking, the University of Chicago is the 13th best university in the world. The QS World University ranking positions it 11th– almost in the top ten.
Last updated in January 2024. More city profiles here.
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