New York Will Be Top Competitive City in the World in 2025, Report Says

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New York will be the most competitive city in the world in 2025 according to a new report from the Economist Intelligence Unit that was sponsored by Citigroup.

The report found that New York's diversified economy and strong financial services sector pushed it above two other banking centers — London and Singapore — which ranked two and three respectively.

"Many of the other cities in this index that we've looked at are strong in perhaps one or two areas, but New York has strengths across a number of different industries," said Leo Abruzzese, EIU global forecasting director.

He also cited New York's strong institutions, global appeal, and strong talent base.

Chicago was the only other U.S. city to crack the top ten.