Houston Ranked World's 19th-Fastest Growing Metro Area
by: Andrew Schneider, January 18, 2012 10:01:00 am
The Global MetroMonitor tracks economic growth in the world's 200 largest metro areas, both in terms of employment and per capita income. For 2011, Houston came in at number 19. The only other U.S. city to crack the top forty was Dallas at 36.
Alan Berube is a senior fellow at Brookings and co-author of the report.
"Houston and Dallas were the best-performing U.S. metropolitan areas in large measure because of their specialization in the commodities economy, especially in oil, but also the high-end services that go along with that, in professional services and finance."
China, Saudi Arabia, Turkey and Brazil accounted for more than half the world's forty fastest-growing metro areas. The US and Britain, by contrast, accounted for half of the forty weakest metros. The worst performing U.S. cities were hamstrung by poor housing market conditions, trade with fragile European partners, and steep cuts in state government services.