Here's why Toronto is ranked one of the best cities in the world

FILE - The Toronto skyline is photographed from the Hanlan's Point Ferry as it travels towards Toronto Island on Thursday, June 21, 2018. THE CANADIAN PRESS/ Tijana Martin

Toronto is among the world’s top 25 cities, according to a recent ranking.

Resonance Consultancy recently published its World’s Best Cities list for 2024 and Toronto is the highest-ranking Canadian city to have made the cut.

The city placed 23rd this year, inching one spot higher than what it ranked in last year’s report. A handful of other Canadian cities cracked the list, with Vancouver placing 50th, Montreal in 60th, Ottawa in 90th and Calgary in 93rd.

Those behind the list evaluated hundreds of cities worldwide to determine the top 100 global cities, looking at a combination of statistics, qualitative evaluations, and local recommendations from social media. From there, it evaluated a city’s livability, lovability and prosperity (judging by a variety of factors from walk score, higher education, attraction, poverty rate, among many more) to determine its overall “place power score.”

According to the global consultancy firm, Toronto’s economic growth “fueled by immigration and global investment” is putting the city on the road towards great things.

The city was recognized for its rapidly growing population, its swath of construction “optimizing and streamlining an emergent global destination city” and its green space, including its recent addition of Love Park near Toronto's waterfront at York Street and Queens Quay West.

Executive Vice President of Destination Toronto, Andrew Weir, told CTV News Toronto that even though the city ranked higher on the list this year, it’s crucial to look at the big picture and look at the other cities it is compared to.

“See the affirmation of Toronto at that level of alpha-global city and say that based on the company that we keep,” Weir said. “It’s the cities that are at that high global level of competitiveness from a business [and] cultural standpoint, and their relative importance within their region or continent.”

Weir pointed to London, Paris, New York, and Tokyo, as some of those cities, as they have been considered “alpha cities” for centuries.

“I think what’s important to look at is how Toronto has grown into this elite group over the last generation and then with the right kinds of continued work where could we be a generation from now,” Weir said.

What sets Toronto apart from the rest, according to Weir, is its diversity.

“What’s relevant in a place like Toronto is the level of inclusion – and it’s not perfect, the job is not done – but there’s a lot that we’ve gotten right here that a lot of other cities are looking to emulate,” Weir said.

“So, you ask what our appeal is, part of it is the fact that we have people from all over the world, but more importantly is what it means that we have people from all over the world, the fact that you taste that in the food, that you see it on the stages, and you hear it in the music, and you see it in the neighbourhoods and communities, and you see it in business when you conduct a business meeting, and you know, many – our organization, so many organizations are made up people from all over that bring very different perspectives.”