The United States is projected to become the world's largest economy by the end of 2024, according to a report from Yahoo Finance [e2437d97]. The report states that the US had a GDP of $27.36 trillion in 2023 and is projected to grow at a rate of 2.7% in 2024, reaching $28.096 trillion by the end of the year. The strong growth of the US economy can be attributed to increased consumer spending, an improved labor market, and stable business and government spending [e2437d97].
In addition to the overall growth of the US economy, there are specific cities that are driving finance and industry and are primed for an economic boom in 2024. According to an article from GOBankingRates, the top 10 cities in the world that are leading the way in terms of economic growth and development are New York, Los Angeles, San Jose, Seattle, San Francisco, Dallas, London, Chicago, Paris, and Tokyo [2e426251]. These cities have strong economies and contribute significantly to their respective countries' GDP. The article provides key facts about each city, including their population, GDP, and GDP per person. It also highlights the industries and companies that contribute to each city's economy and mentions the economic impact of the COVID-19 pandemic [2e426251].
The United States leads the world economy category, holding seven spots on the top 10 list of cities driving finance and industry. This further emphasizes the strength and resilience of the US economy. These cities play a crucial role in driving job markets, determining access to goods and services, and creating opportunities. As the US economy continues to grow, these cities are expected to experience even more economic prosperity in the coming years [2e426251] [e2437d97].
Fort Worth, Texas has been ranked as the No. 2 best economic boomtown in America, outperforming all major cities in Texas, according to a study by CoworkingCafe [7a46b6c3]. The study evaluated cities based on factors such as economic growth, GDP, employment rates, and housing. Fort Worth earned a score of 64 points in the large city category, just two points behind Mesa, Arizona, which claimed the top spot. The city's economic success can be attributed to population growth, a steady increase in housing, and the attraction of major businesses across various industries. From 2018 to 2022, Fort Worth experienced significant growth in business applications, trade-exports, GDP, median earnings, educational attainment, infrastructure, and employment rates [7a46b6c3].
Neighboring Dallas ranked as the No. 12 large city for economic growth. In the mid-size city category, Irving, Arlington, and Plano ranked outside the top 10, while Lewisville ranked No. 9 in the small city category [7a46b6c3].