Boston has been firmly planted on the world stage for some time now and it doesn’t appear that will be changing anytime soon. For the third straight year Boston ranks among the top 10 cities globally in JLL’s City Momentum Index, coming in at 9th in the world and 3rd in the United States, behind only Silicon Valley and Austin.
The Index tracks the speed of change of a city’s economy and commercial real estate market. It covers 134 major established and emerging business hubs and identifies cities that have the potential to maintain the greatest dynamism over the short and long term.
More than 40 different factors were used to calculate the rankings including recent and projected changes in city GDP, population, corporate headquarter presence, commercial real estate construction and rents. Other factors included education, innovation and environment. These factors were grouped into three primary categories: socio-economic momentum, commercial real estate momentum, and long-term momentum. Boston ranked particularly high in the latter two categories.
Much like other leading cities on the list, technology continues to help power our economy and, with the second largest tech work force in the US, Boston continues to incubate and attract new startups as well as growing global companies. GE’s recent relocation to the Seaport District is further validation that Boston will continue to be a leader in the tech ecosystem and will grow as one of the world’s top innovation hubs.