Looking for World Job Opportunities: 8 Cities to Consider
In today’s global economy, job opportunities are not just confined to your local area. With the rise of technology and interconnectedness, working abroad is easier than ever before. But where should you focus your job search? Fortunately, the 2012 Cities of Opportunity report put together by PricewaterhouseCoopers (PwC) provides some helpful insights into the best cities for job opportunities. The study considers ten factors, including intellectual capital and innovation, technology readiness, transportation and infrastructure, health, safety and security, sustainability and the natural environment, economic clout, ease of doing business, cost, demographics and livability, and city gateways. The report also includes job outlook projections up to 2025. Read on to discover the top eight cities to consider in your job search.
1. New York
New York may not top the economic indicator lists, but it did well enough in ten of them to earn the top spot in the 2012 Cities of Opportunity Report. According to the same report, between now and 2025, New York will add plenty of jobs in a global economy that favors good education and connection. However, if technology takes a hit or protectionism puts the kibosh on trade, New York will eliminate as many jobs as it created.
The majority of jobs in New York are in Financial and Business Services and Healthcare. Therefore, if you’re in the healthcare field or love doing business and appreciate smart, tech-savvy people, and don’t mind the long commutes or high cost of living, New York might be your dream career destination.
London has the most overseas banks of any country in the world and is also one of the major classical and popular music capitals. It is the winner of the “city gateway” prize, being a major hub for European travel. Also, in prosperous times, London leads the pack in job growth, whether the economy is growing as a result of technology, travel connections, or knowledge. However, if the global economy turns sour, London will also be forced to downsize its workforce.
The majority of jobs in London are in Financial and Business Services. If you have an entrepreneurial spirit and love having easy access to education, music, and good reads and don’t mind the cloudy skies, bad food, and the fact that it’s not the most sustainable city on Earth, London could be your Holy Grail.
People from Canada are actually less common in Toronto than people from England and, surprisingly, China. But if you consider that Toronto did well in the “economic clout” category, which means, among other things, that a healthy number of Global 500 companies have headquarters in Toronto, perhaps this isn’t so surprising. Also, this Canadian city is good at getting funding from other countries for projects that create new jobs. If the global economy took a downturn between now and 2025, Toronto wouldn’t lay off quite as many workers as New York or London, although it would definitely feel the effects.
The majority of jobs in Toronto are in Financial and Business Services and Healthcare. If you don’t mind travel being a little more challenging, Toronto would be a great place to start and run your new business.
Not surprisingly, given its cultural wealth and amazing cuisine, Paris did very well in the “demographics and livability” and “city gateway” economic indicators and was beaten only by Milan in the percentage of employment opportunities to be found in the financial and business services. Not surprisingly, this cultural hub is wildly popular with tourists, and ease of travel into and out of Paris makes it a great place for the hospitality and tourism industries. Long-term, Paris wouldn’t lay off quite as many workers as London or New York if the global economy flounders, but employment would definitely be affected.
The majority of jobs in Paris are in Financial and Business Services and Hospitality and Tourism. Foodies, travelers, and lovers of culture of all kinds will find Paris a city of dreams. Just watch out for the price tag, stay healthy, and keep an eye on your wallet!
With very little heavy industry and a dearth of fossil fuel power plants, Stockholm is one of the world’s cleanest big cities. The city was also a trendsetter in fibre optic telecommunication in the 90s. Easy access to libraries and universities helped Stockholm take the prize in the “intellectual capital” economic category, and the Swedish city also did well in “health, safety and security”. This Scandinavian city’s job market is projected to be relatively steady-Eddie long term, regardless of worldwide growth or shrinkage.
The majority of jobs in Stockholm are in Financial and Business Services and Healthcare. While it’s not the easiest city to get in and out of travel-wise, if you like good reads and being able to walk around at night without worrying about thugs swiping your stuff, Stockholm’s your place.
6. San Francisco
This hilly California city, famous for its cool, if not downright chilly summers, did pretty well in eight of the ten categories of economic development, its two strongest categories being “intellectual capital and innovation” and “sustainability and the natural environment”. No matter what happens to the worldwide economy between now and 2025, San Francisco will most likely avoid any major upsets in business-as-usual.
The majority of jobs in San Francisco are in Financial and Business Services and Hospitality and Tourism. If you appreciate great city planning, sustainability, and counterculture, leave your heart in San Francisco. But be prepared to open your wallet wide to pay the rent, and if you want to work for a Fortune 500 company, you’re better off looking elsewhere.
One out of six households in Singapore has a million dollars or more in disposable income, and this city did well in the “transportation and infrastructure” and “ease of doing business” categories of economic development. Like London and New York, this Southeast Asian city promises to thrive between now and 2025 if the global economy grows, but may not fare so well if protectionism spreads or the tech industries hit a slump.
The majority of jobs in Singapore are in Manufacturing and Construction. If you aren’t concerned about easy access to public libraries or universities and love being able to zip around a city easily without owning a car and adore Asian cuisine, Singapore might be the place for you.
8. Hong Kong
Low taxes and free trade make Hong Kong one of the easiest cities in the world in which to do business. Hong Kong is also a major Asian travel hub, making it an awesome “city gateway”. This Southeast Asian city will add a fair number of jobs between now and 2025 if trade rises due to education and connection but will definitely feel the pinch in the event of a global economy that suffers from a scale back in industry or information technology.
The majority of jobs in Hong Kong are in Hospitality and Tourism. If you are an entrepreneur who wants to open a restaurant or hotel, aren’t concerned about the environment and sustainability, and don’t mind rubbing elbows with lots and lots of other people, Hong Kong may be in your future.
In conclusion, the world is full of opportunities for job seekers willing to cast their nets further abroad. Consider the above eight cities in your job search, taking into account the factors that matter most to you. With some research and a bit of luck, your dream job and city may be just a plane ticket away.