Business travellers have always had an unofficial ranking of the places they go on trips but now there is a better way of telling whether you or your upstart rival who is trying to grab the promotion that is rightfully yours is most in favour with the boss. This year for the first time The Economist publishes a new index that shows the best cities in the world to go on a business trip.

Researchers for The World in 2006 looked at 127 cities around the world and evaluated each on a series of criteria, including the quality of public transport, the availability of high-quality hotels, the extent of social and religious restrictions and the quality of healthcare in the city. One of the more unusual factors used to assess business cities is the cost of buying Time magazine or an equivalent.

The methodology reflects the Economist’s belief that the cost of being in a city is no longer the only factor. Many business travel indices rank cities on the basis of average per diem rates paid to business travellers visiting the city, given that it is the traveller’s company who is footing the bill.

The results are perhaps surprising. While there is no surprise in Vancouver taking the top spot, the placing of Calgary and Toronto as second and third might raise a few eyebrows.

The author of the index Jon Copestake says: “Canadian cities fare best because they have the right mix of feelgood factors without being too expensive. The huge distances between cities in Canada have bred a highly developed transport and communication infrastructure. And the large expanse of the Canadian wilderness and its cultural diversity have made cities cosmopolitan havens.”

While many European cities like to consider themselves the business capital of the world, The Economist doesn’t agree. The highest ranking European city is Vienna, coming 14th. Stockholm, anecdotally popular with business travellers, only makes 17th, the same as Copenhagen.

London, New York and Paris all fail to make the top 40. Paris, beaten by London in the race for the 2012 Olympic Games, can take comfort from ranking 41st , 31 places above London in 72nd. New York just makes the top 50, at number 47. The top UK city for business travel is Manchester, according to the index.

“Given that travel for reasons other than client meetings – conventions, training, corporate meetings and seminars – currently accounts for a greater share of business travel than client meetings, this index is particularly helpful for event and meeting planners as well as travellers,” says The Economist’s Copestake.

One frequent traveller says his favourite city for business travel is in the UK and doesn’t feature anywhere on the list. “Newcastle is fantastic. It has a brand new Hilton hotel, a Malmaison, a Copthorne as well as loads of hotels and restaurants by the river and Triangle at all budgets. The International Airport has a direct Metro link from airport which gets you to most places. “There has also been massive regeneration around river and has the Angel of the North, Sage and Baltic for the sophisticated (although they are technically in Gateshead) and Newcastle Football Club and Buffalo Joes for the slightly less cultured.”

Andrew Roberts, an analyst at a large investment bank, isn’t convinced about one of the top ranking cities. “Toronto is cool and safe and the bars are superb – especially the Canoe bar on the top floor of the Dominion Bank skyscraper – but no way is it number three.” He has his own suggestions on which cities should be at the top – Edinburgh, Boston, Newcastle, Beijing and Tokyo, for example.

Another city he rates is Taipei. “It’s friendly, it has a superb history and it’s always good to go somewhere where you feel as though you are on a different planet. It also has incredible fresh food – it is supposed to have the world’s best dim sum.”

Edinburgh is also cited by frequent traveller Rachel Ashton. “It has great hotels and restaurants but still has the personal touch. It’s very easy to get around since most things are central so you can walk although it’s no problem getting a cab. The only bad thing is the airport, they really need to sort out the security checks. Last time I was there I nearly missed my plane and has become a common occurrence.”