Economy: New York City’s economy is one of the largest and most dynamic in the world. In 2007, the New York metropolitan area had a gross metropolitan product of over $1.2 trillion, the largest regional economy in the United States and second largest city economy in the world. Many major corporations are headquartered in New York City, including 43 Fortune 500 companies. The city’s economy is also diverse. It is a major center for finance, fashion, insurance, real estate, media, bio-tech, medical research and technology.

International Business Community: New York City is unique among American cities for its large number of foreign corporations. There are currently 2,600 international businesses employing 275,000 people and over 200 banks from more than 40 countries. One out of ten private sector jobs in the city is with a foreign company, making it one of the world’s largest international business communities.

Higher Education: There are 113 colleges and universities in New York City teaching approximately 470,000 students, the highest number of any city in the United States. Public institutions include the City University of New York and the Fashion Institute of Technology. New York City is also home to such notable private universities as Columbia University, Barnard College, New York University, Fordham University, The New School, and Yeshiva University.

Much of the scientific research in the city is done in medicine and the life sciences. New York City has the most post-graduate life sciences degrees awarded annually in the United States. Major institutions include Weill Cornell Medical College, Mount Sinai School of Medicine, Albert Einstein College of Medicine, and SUNY Downstate Medical Center.

The New York City metropolitan area attracts more international students than any other region in the United States. In 2007, more than 50,000 international students were enrolled in institutions in the New York area. That same year, Columbia University and New York University had the second and third largest international student populations in the country.

Culture & Entertainment: New York City has over 100 museums, 39 Broadway theatres, 6,400 restaurants, and some of the best destinations for art, opera, dance, music, and film in the world. Options include Radio City Music Hall, Carnegie Hall, Lincoln Center, the Metropolitan Museum of Art and the Guggenheim. The city is also a shopping paradise, with retailers such as Tiffany & Co., Bergdorf Goodman, and Saks calling Fifth Avenue home. Sports lovers also feel at home in New York City with professional sports teams in baseball, basketball, football, soccer, and hockey. International tennis competition is found at the U.S. Open every year as well as cricket tournaments in Flushing Meadow, Queens.

Quality of Life: New York City is home to one of the largest subway systems in the world, with 720 miles of track and 468 subway stations. So it’s easy to get around in the city. It’s also safe to get around. Today, New York City has the lowest crime rate among the 25 largest U.S. cities. With more than 1,700 parks and playgrounds, New York City has the highest percentage of parkland of any high-density U.S. city. World-famous Central Park covers 843 acres and hosts more than 25 million each year.

In 2007, New York City was also rated one of the lowest cost of living cities when compared to other world-class cities.

Large Global Cities Ranked by Cost (1= Most Expensive)