Santiago has been selected as Latin American City of the Future for 2011-2012 by fDi Magazine, the magazine for the Financial Times Group, which specializes in foreign investment.
The ranking evaluated 405 urban zones across the Americas, and for the first time added Latin America to the larger category of American cities of the future, which in the past had only taken into account the cities of the United States and Canada.
“Santiago has attracted 84 Foreign Direct Investment (FDI) projects since 2003, with almost a fifth of these projects involving a capital investment of more than US$100 million,” the British magazine highlighted.
To create the list, fDi Magazine considered economic potential, human resources, cost effectiveness, quality of life, infrastructure and business friendliness. This year, the magazine added a seventh category: promotion of direct foreign investment. According to fDi, “in this category, 100 cities submitted details about their promotion strategy and this was judged and scored by our independent judging panel.”
Lima appeared in second place, the only Peruvian city on the list. Four Mexican cities appeared, with Monterrey in third place, Guadalajara in sixth, Quierétaro in seventh and Hermosillo in ninth. The Colombian cities of Bogotá and Barranquilla took fourth and eight places respectively, while San Jose, Costa Rica came in fifth, and Sao Paulo, the largest urban area in Brazil and South America, took tenth.
This recognition in fDi Magazine follows similar distinction for the Chilean capital in the magazine AméricaEconomía as the second best city in the region for business (following Miami), and as the third best for quality of life according to Mercer Human Resources Consulting.