Reuters

New York tops the Economist's new list of competitive cities.

A new chart from the Economist shows the relationship between a city's cost and its competitiveness level.

This new index by the Economist Intelligence Unit ranks the competitiveness of 120 of the most prominent global cities on a variety of economic factors. New York tops the list, followed by London, Singapore, Hong Kong, and Paris. As the Economist notes:

Comparing the index to the EIU's cost of living data (a measure of western-style living expenses), identifies those cities which also represent good value for money for the ambitious expatriate.

Most Americans think New York is tremendously expensive. But by the standards of its global competitors, it is a veritable bargain. Yet another thing New York and other U.S. cities have going for them.

Photo credit: Brendan McDermid/Reuters

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