Most Up-And-Coming City In America: Charlotte
On the search for the next emerging market where business thrives? Keep your eyes on North Carolina.
Charlotte was recently named the most up-and-coming city in America, using real-time data examining neighborhoods and cities.
The study, created by Yelp and reported by Time, highlighted Charlotte’s success in the city’s restaurant, wider food and home services industries. Cities were ranked based on millions of data points that factored in whether climates allow businesses to flourish. Both current conditions and predictions for the future were examined — not only are businesses opening here, but they are staying open.
Yelp’s data editor Carl Bialik told Time user ratings were insignificant to the study; heavier factors included users’ search and viewing patterns during Q3 2017.
“We can make good predictions about the likelihood of closure, and we can use that as a proxy for local economic health,” he said.
Boston ranked last in the 50 cities studied; Time cited a saturated market and high cost of living as reasons businesses struggle to thrive.
In individual categories, Charlotte ranked in the top 10 for the following: shopping, restaurants, food, automotive, health and medical, active life, home services, and beauty and spas. It nailed the No. 1 spots for overall rank and food.
“Charlotte is a vibrant city that really embraces local businesses and owners,” Yelp Charlotte Community & Marketing Director Nikki Wolfe told Bisnow. “It was no shock to me at all when we got the data back and the Queen City was No. 1 on the list. It’s a really exciting time for Charlotte.”