Derek Thompson of The Atlantic writes
Grading each metropolis by the growth of its income and employment, the Brookings Metropolitan Policy Program found that the world’s fastest recovering cities are overwhelmingly in three key areas: China and India, Southeast Asian islands, and Latin America.
In the top 10, at number 9 for the first time ever was the city of Manila. Here’s what The Atlantic had to say
Talk about relying on overseas capital: The Philippines depends so heavily on remittances from far-flung Filipino workers that a 7 percent boost in mailed cash this year dramatically improved the country’s economic projections for 2010. Healthy tourism and demand for IT products helped Manila crack the top ten in Brookings’ rankings for the first time.
Here is the full list of cities in ascending order:
30. Hong Kong 29. Cairo, Egypt 28. Alexandria, Egypt 27. Montreal, Canada 26. Austin, Texas 25. Sao Paulo, Brazil 24. Riyadh, Saudi Arabia 23. Kuala Lumpur, Malaysia 22. Belo Horizonte, Brazil 21. Taipei, Taiwan 20. Jakarta, Indonesia 19. Buenos Aires, Argentina 18.Tianjin, China 17. Chennai, India 16. Kolkata, India 15. Guadalajara, Mexico 14. Melbourne, Australia 13. Bangalore, India 12. Mumbai, India 11. Hyderbad, India 10. Rio de Janeiro, Brazil 9. Manila, Philippines 8. Beijing, China 7. Guangzhou, China 6. Shanghai, China 5. Santiago, Chile 4. Singapore 3. Lima, Peru 2. Shenzhen, China 1. Istanbul, Turkey.
If we are to listen to Richard Florida, the city where you live says a lot about you. After the tragedy that was inflicted on the capital back in August, this piece should help dispel a lot of myths regarding Manila as a non-destination. After the fiasco involving the Department of Tourism campaign for the Philippines, this should be welcome news.
For once, it is good to see us being placed back on the map. The question is, what do our other major cities have to do to gain the same status?