The study, entitled The Path to Economic Recovery, covers 150 global metropolitan areas and has been jointly undertaken by the Brookings Institution, London School of Economics & Political Science and Deutsche Bank Research.
The authors of the study attribute Montreal’s strong performance to three factors, which include the Canadian banking system and the aerospace and electronics sectors – and the port’s dynamism.
The authors explain, “because metros form the fundamental bases for national and international economies, understanding their relative positioning before, during, and after the Great Recession provides important evidence on emerging shifts in the location of global economic resilience and future growth”. Against this, the jump in Montreal’s economic ranking from number 74 to 27 out of the study’s 150 city areas is especially significant.
“This result reflects the effectiveness of our intermodal platform… and our position as a gateway to North America for global commerce,” said Sylvie Vachon, president and CEO of the Montreal Port Authority.
While continental Europe and the United Kingdom remain the principal markets of the port of Montreal with 51% of the container traffic, upcoming markets in the Mediterranean, Asia and the Middle East and Latin America increasingly contribute to its growth, with 19%, 16% and 8% of container traffic handled at the port.
