Vancouver has been ranked as one of the best cities in the world, according to Resonance Consultancy’s World Best Cities 2020 report.

The tourism, real estate, and economic development advisor, based out of Vancouver and New York, releases the ranking annually. This year, Vancouver ranked 41st, just after Austin, Texas and ahead of Dublin, Orlando, and Osaka. Notably, Vancouver’s ranking fell four spots from its previous spot of 37.

The report ranks the relative quality of the world’s “principal cities” — the largest city in each metropolitan statistical area — with populations of one million or more, based on categories ranging from the physical place to prosperity to people.

“The World’s Best Cities rankings are composed of experiential factors that people consider most important in choosing a city to live and visit, as well as empirical factors that business decision-makers consider important for business or investment,” says Resonance Consultancy President and CEO Chris Fair in a release.

Vancouver’s key areas of impression included its educational attainment by residents and foreign-born citizenry.

Those alone make up the study’s “People” section, for which the city ranks sixth. In addition to “People,” the report analyzes cities based on the following categories:

Place – Focuses on the layers of a location’s physical experience. Think weather, safety, neighbourhoods and landmarks, and the great outdoors.

Product – Described as the ranking of a city’s “hardware,” looks at airport connectivity, attractions, museums, university rankings, and the like.

Prosperity – Focuses on number of Global 500 corporate headquarters and GDP — Gross Domestic Product — per capita.

Programming – Measuring the ” the experiential pillars of a great visit: food, shows, shopping and nightlife,” this category encompasses culture, nightlife, dining, and shopping.

Promotion – Covering a city’s “ability to tell its story,” this section looks at Facebook check-ins, TripAdvisor reviews, Google searches, Instagram hashtags, and more.

“Increasingly, the term ‘visible minority’ doesn’t mean anything here. Despite the success of this Eden of coexistence, not all is calm,” reads the report.

“Always on the lookout for foreign investment, various incarnations of provincial and federal governments made citizenship available to foreigners with sufficient capital, with little oversight on taxing outside funds.”

Resonance Consultancy notes that Vancouver’s housing prices are “now mostly hitched to a global context, largely decoupled from local wages.”

“The most Asian city outside of Asia is as smart as it is gorgeous. Too bad about the price of entry,” states the report.

But there is hope thanks to the Silicon Valley and Seattle tech giants coming into the city with “plenty of jobs, coaxed by Canada’s openness to global tech talent immigration largely spurned by the current U.S. administration.”

The following are the World Best Cities 2020 Top 20:

1. London, England

2. New York, United States

3. Paris, France

4. Tokyo, Japan

5. Moscow, Russia

6. Dubai, United Arab Emirates

7. Singapore, Singapore

8. Barcelona, Spain

9. Los Angeles, United States

10. Rome, Italy

11. San Francisco, United States

12. Madrid, Spain

13. Chicago, United States

14. Abu Dhabi, United Arab Emirates

15. Amsterdam, Netherlands

16. Beijing, China

17. Toronto, Canada

18. Doha, Qatar

19. Hong Kong, China

20. San Diego, United States

21. Boston, United States

22. Sydney, Australia

23. Las Vegas, United States

24. Miami, United States

25. San Jose, United States

26. Washington, United States

27. Zurich, Switzerland

28. Berlin, Germany

29. Prague, Czech Republic

30. Seoul, South Korea

31. Milan, Italy

32. Houston, United States

33. Melbourne, Australia

34. Seattle, United States

35. St. Petersburg, Russia

36. Vienna, Austria

37. Munich, Germany

38. Dallas, United States

39. Istanbul, Turkey

40. Austin, United States

41. Vancouver, Canada

42. Dublin, Ireland

43. Orlando, United States

44. Osaka, Japan

45. Montreal, Canada

46. Stuttgart, Germany

47. Frankfurt, Germany

48. Calgary, Canada

49. Pheonix, United States

50. Lisbon. Portugal