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June 22, 2017updated 27 Jan 2022 2:20pm

Higher education means more financial services in these US cities

By GlobalData Travel & Tourism

As a city’s population becomes more educated, positive economic factors increase along side it.

In US cities economic output from the financial sector and other white collar jobs have been found to rise along side higher education.

The likes of New York (combined here with Northern New Jersey and Long Island) recorded 61.7 percent of the population as having higher education in 2016, with 48.4 percent of the urban area’s GDP coming from finance and other white collar jobs.

Meanwhile, in Boulder, Colorado, 82.5 percent of the population boast some form of higher education, but just 35 percent of the city’s GDP comes from financial services and white collar jobs.

GlobalData research has found there is a positive correlation between further education and financial and professional services in some 360 US cities (some of which have been combined with their closest neighbours to keep it simple).

While education has been found to be a significant contributor to a country’s long term economic development, education discrepancies be found between cities within countries.

You can view the chart here (use the zoom tool on the left to see details of the denser areas)