Torontonians have another accolade to be proud of as Toronto was just recognized as one of the best cities in the world.

The bragging rights were put forward by Vancouver-based consulting firm Resonance Consultancy Ltd., which ranked the world's 100 best-performing cities for 2020.

READ: The Year Ahead – Top Ten Ideas For A Better Toronto

Each chosen city has populations of more than one million and was ranked using a combination of statistical performance and qualitative evaluations from locals and visitors in 22 areas grouped into six core categories.

The six key categories include:

  • Place: Weather, safety, neighbourhoods and landmarks, and outdoors
  • Product: Airport connectivity, attractions, museums, university rankings, and convention centres
  • People: Diversity and educational attainment
  • Prosperity: GDP per capita and the number of Global 500 headquarters
  • Programming: Arts, culture, and entertainment
  • Performance: Online reviews and check-ins)

This year's ranking saw London claim the top spot, with New York City, Paris, Tokyo, and Moscow rounding out the top five.

Canada's largest city was also the country's highest-ranking on this year's list, taking the 17th spot, followed by Vancouver (41st), Montreal (45th), Calgary (48th), Ottawa (77th), and Edmonton (83rd) in the top 100.

Screen shot 2020 01 08 at 10 Best Cities 2020

According to the report, in the six core categories, Toronto ranked 123rd for place, 21st for product, 52nd for programming, 3rd for people, 27th for prosperity, and 23rd for promotion.

52nd for programming, but compensated by ranking third overall in the world for people, 21st for product and 23rd for promotion.

"With almost half of its population foreign-born, Toronto’s #17 overall finish is powered by its diversity and Education Attainment rankings—the two components of our People category, for which the city ranks #3, just behind Abu Dhabi and Dubai," reads the report.

"Unlike with those Middle Eastern cities, Toronto’s diversity is less tied to migrant labor. The city’s openness, combined with its economy (with the seventh-most Global 500 head offices in the world) has resulted in unprecedented density and a satisfaction with just staying put, sated by real estate wealth and the comfort that the world is already in town."

The report even mentioned the Toronto Raptors winning the 2019 NBA Championship as a reason for why residents are satisfied with living in the city.

20 Best Cities in the World 2020:

  1. London
  2. New York City
  3. Paris
  4. Tokyo
  5. Moscow
  6. Dubai
  7. Singapore
  8. Barcelona
  9. Los Angeles
  10. Rome
  11. San Francisco
  12. Madrid
  13. Chicago
  14. Abu Dhabi
  15. Amsterdam
  16. Beijing
  17. Toronto
  18. Doha
  19. Hong Kong
  20. San Diego

The full report and ranking list can be found here.