Charleston Ranks #5 in Yelp’s Inaugural Local Economic Outlook Survey of Cities Primed for Growth

October 25, 2017 Charleston Daily 0

Yelp’s inaugural Local Economic Outlook is a new program to track which areas of America are ripe for economic opportunity: where small businesses in America have the best chance of success.

This program is an ongoing effort to surface insights from Yelp’s deep data stores to help businesses succeed and to arm policymakers with the information they need to make effective change that will boost local economies.

The Outlook centers around a list of 50 cities in the U.S. ranked by economic opportunity to show the current state of affairs in the local American economy. We define “economic opportunity” as the chance businesses have to stay open, and for new businesses to thrive.

In addition, we have produced a list of 50 neighborhoods and 10 business categories that have experienced the largest positive change in economic opportunity over the last year to provide a guide for where to look next.

Methodology

Each business in the U.S. that has been reviewed on Yelp was analyzed using a random-

forest model to estimate its probability of remaining open for the next three months, for

each month over the last two years. The model takes into account the business’s location,

category, and other factors, mainly based on Yelp-related activity for that business: how

many reviews it received, how often people looked at its Yelp page, and so on.

Top 10 Cities

Charlotte, North Carolina
Jacksonville, Florida
Omaha, Nebraska
Orlando, Florida
Charleston, South Carolina
Las Vegas, Nevada
Tampa, Florida
Dallas, Texas
Salt Lake City, Utah
Houston, Texas

Full Report

Yelp Local Economic Outlook Report – October 2017

Spread the love

Tags: chsbiz, Economic Report, Yelp

About The Author

Charleston Daily

Charleston Daily is a concept in community. Its mission is to promote, assist, and celebrate in everything Charleston, South Carolina. By partnering with businesses, community leaders, volunteers and events, we are spreading the love that is Charleston. As this city continues to grow and prosper, we want to help spread the message to all about how wonderful this community is. Charleston is about the people, community, water, land, history, heritage and the true southern warmth it brings with each and every day.