Recently, a new global prosperity index was announced at the autonomous community of Basque, Spain. As per the prosperity index, cities from around the world are rated on the basis of their liveability standards. The new index takes a look at almost all factors that make up a city, especially the financial aspect, and then ranks them.
This is the first ever Prosperity & Inclusion City Seal and Awards (PICSA) Index, ever and is designed to showcase the economy of a city and also the quality of economic growth.
What's the update?
In the list, which has a limited number of cities, there are Indian cities, which is something of a feat in itself. The three Indian cities, are New Delhi, Mumbai and Bangalore, which are considered to be the most economically stable cities in India.
The cities are ranked 101, 107 and 83 respectively. The fact that these cities have made the list is quite commendable in itself, as the index takes a look at 113 cities around the entire world.
What exactly is PICSA?
To fully understand the extent of this index, one must figure out how it differs from a normal liveability index. This is the first of its kind, in that it is a non-commercial ranking index. PICSA is a way to not just measure economy of a city, but to also chart out the future and understand how it will stand the test of time.
The index also takes into account health, housing, quality of living along with jobs, ease of doing business, incomes. This is one of the most holistic indexes and it should provide a better outlook on cities as compared to the older models.
As for the rankings themselves, the top of the index is mostly layered with many European and North American cities. Since these countries have a more stable economy in general, the cities prosper from this as well.
The assessments were taken for cities all over the world. The cities that have come in at the top are some of the most financially and economically stable ones. These are the cities that Indian towns should keep as a benchmark and strive towards.