Rejoice Toronto, for despite your headline-making mayor, your often sad-sack sports teams and your crumbling Gardiner Expressway, you have been named the second most reputable city in the world.

This comes from the Reputation Institute, a consultancy which polled 22,000 consumers in G8 countries.

Last year, it was Vancouver that made the news when the institute named it the most reputable city in the world but British Columbia's metropolis has now somehow dropped to 14th spot .

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Instead, Toronto, the city the rest of Canada loves to put down, is this year's No. 2, behind long-time favourite Sydney, which got the top spot.

The criteria? It is based on three major types of considerations: the city's economy, whether it has an appealing environment and whether it has an effective government.

The institute says that a good reputation matters: it attracts tourists, trade and foreign talent.

This year's Top 10:

Sydney, Toronto, Stockholm, Vienna, Venice, Edinburgh, Zurich, Florence, London, Copenhagen.

Vancouver dropped to the 14th spot, between Munich and Melbourne. Montreal came in 18th, just ahead of Amsterdam.

Toronto ranked No. 1 as a city to work in, No. 2 in places where people would want to live and No. 7 in attractiveness to investor. However, the city was not in the top 10 in places one would want to visit.

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Big mean cities tend not to do well because of safety concerns and less pleasant living conditions. New York was 21st, followed by Paris and Barcelona while Beijing was 82nd. Baghdad finished last in the 100-city list, trailing behind Tehran and Karachi.

What are the criteria?

Advanced Economy• Produces many unique and well-respected products and services, is the headquarters location of many leading companies, is business-friendly, financially stable and has great potential for future growth

Appealing Environment• Is a beautiful city, with a wide range of appealing experiences, including food, sport, architecture, and entertainment, is home to many well-known artists, scientists, inventors, writers, athletes, and politicians

Effective Government• Offers a safe environment for visitors and residents, has a well-developed structure of political and legal institutions, follows progressive social, economic, and environmental policies, has an adequate infrastructure and public institutions, is run by well-respected leaders

Who was surveyed:

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More than 22, 000 consumers from G8 countries, in online interviews from January to February 2013.