(Houston Business Journal) Houston not only beat every other large metropolitan area in the U.S. in terms of the world’s fastest-growing economies, but it also topped all other large metropolitan areas in the eastern hemisphere, according to a report from the Brookings Institution released on Wednesday.
Houston ranked No. 19 on Brooking’s Global MetroMonitor report, which analyzed large metropolitan areas’ gross domestic product, employment, income and population rates.
Although Houston fared well — the report found income increased 5.5 percent and employment increased 2.5 percent since 2010— almost all other North American markets fell in the rankings.
This is part of a worldwide trend, as more market growth shifts to developing economies in Asia and Eastern Europe, the report found. Surprisingly, half of the 40 weakest metropolitan markets were either in the U.S. or the U.K.
Dallas was the only other U.S. market to get a strong economic growth ranking at No. 36.
The other markets that beat Houston were mainly in China, Saudi Arabia and Turkey, which all had multiple cities in the top 10 ranks.
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