DFW ranks 10th in global competitiveness

Fueled by a strong business climate, the Dallas/Fort Worth area ranked 10th in global competitiveness among 21 international metropolitan regions, according to a report presented at the CoreNet Global Summit on Monday, April 27, 2009.

This new study benchmarks the Dallas/Fort Worth (DFW) region against an elite stratum of 21 global business centers in Asia, Australia, Europe and the Americas. It finds, based on five key areas of global competitiveness, that the DFW region ranks 10th in global competitiveness among the measured global metropolitan areas. This composite ranking takes into account five essential ingredients for economic attractiveness: talent, access, resources, business climate and quality of life. DFW placed second with respect to business climate, tied with Atlanta and outpaced only by Singapore. DFW placed eighth in quality of life, in a four-way tie with Amsterdam, Chicago and Houston. The study also ranked DFW as 10th in access and resources and 11th in talent.

The study notes that the region’s economic success over the last 30 years has been a product of globalization, which was accelerated tremendously with the advent of DFW International Airport in the mid-1970s. The region has grown in that time period to become the 12th largest metropolitan economy in the world. Leading business sectors which have propelled it into the global position enjoyed today are logistics and trade, high technology and advanced services.

A panel of economists prepared the report for the Dallas Regional Chamber. The goal of the two-year study was to create a better understanding of the region’s competitive position in the global economy.  (4/27/09)