As they prepare to ring in 2011, Istanbul’s residents have an extra special reason to celebrate, as the Turkish city was named the world’s best-performing city in terms of economics, according to a new report.
Prepared by the Brookings Institution and the London School of Economics, the Global MetroMonitor ranked 150 world cities, according to growth in gross value added per person (a proxy for income) and employment. With income growth of 5.5 percent and employment growth of 7.3 percent over the past year, Istanbul topped the chart. But with four cities nestled firmly in the top ten, China is undoubtedly the report’s champion at the national level.
The recession has toppled previous champions — Dubai, the second-best performing city between 1993 and 2007, now ranks among the most stagnant.
See the top 10 cities outside the U.S., and their rankings, here:
via World’s 10 Best Economic Performing Cities: 2010 Global MetroMonitor (PHOTOS).