Singapore, Hong Kong Ranked Top Five Cities In The World By Young Adults For Economic Prospects

(Suhaimi Abdullah/Getty Images)

Singapore was ranked by young adults as the fourth best city for economic prospects out of 35 global cities, after Toronto, New York and Chicago, according to a researchby the Economist Intelligence Unit.

Hong Kong came fifth, topping the “education and training” category, but was dragged down by “income equality” and “youth optimism about their economic future,” coming in second last in both categories.


The Youth Economic Strategy (YES) Index ranks 35 cities around the world based on economic prospects from young adults. (Graphic by Economist Intelligence Unit)


One of the key findings from the research is that youth optimism about the future remains high despite thinking there’s limited economic opportunities in their city. For example, youths in Peru’s capital, Lima, is the most optimistic about their future even though their city is ranked 30th out of 35 cities.

All the Asian cities in emerging markets ranked high in youth optimism despite their lower rank in economic prospects by young adults, and this is the opposite case for cities in developed markets in Asia. The bottom four cities for youth optimism are: Seoul, the capital of “Hell Joseon,” was dead last, followed by Hong Kong, Taipei and Singapore.
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(Graphic by Economist Intelligence Unit)

The research offers a comparative snapshot of youth perceptions of their economic prospects. It surveyed more than 5,000 people around the world aged 18 to 25 in February and March 2015 about their economic futures, and analyzed four broad categories to determine the rankings: government support and institutional framework; employment and entrepreneurship; education and training; and human and social capital.

Follow me on Twitter @johnhjkang and email me at jkang@forbes.com

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