The Argentinean capital also ranked as the "city with the most interesting cultural life", "city with the most respect for diversity" and "city with the most internationally ranked business schools".

Buenos Aires, which is on the shortlist up against Glasgow and Medellin to host the 2018 Youth Olympic Games, also ranked as the third best city in which to be young, and the fifth best city in which to do business.

These acknowledgements come as a further boost for the city, which also recently came in at number one in the North and South America International Congress and Conventions Association's (ICCA) rankings of cities that have organised business meetings and events in the last ten years, and was voted as the top tourist city in Central and South America by international readers of Condé Nast Traveller magazine last month.

Buenos Aires has been voted as the "city with the best urban life and architecture" in a survey by America Economia magazine

"It is fantastic to hear that Buenos Aires is again acknowledged as a world leader when it comes to offering an enriching cultural and social experience - especially for young people in the city." said Francisco Irarrazaval, Buenos Aires Under-Secretary of Sport and chief executive of Buenos Aires 2018.

"If Buenos Aires has the honour of hosting the 2018 YOG, the young people of our city will be wonderful ambassadors for the YOG and the Olympic Movement – showcasing the Olympic spirit to all young people around the world."

Francisco Cabrera, Minister of Economic Development of Buenos Aires City, also spoke of his joy at receiving these accolades, saying: "We are delighted to hear that Buenos Aires has achieved these fantastic results in the latest America Economia rankings.

"This is a fine example of what can be achieved when the city and Federal Governments work together towards a shared vision and identity. 

"We are very proud of what we have achieved and we are confident that with further hard work coupled with innovative thinking we can continue to build on our world renowned reputation as a culturally diverse economic hub that is ready to serve the world." he added.

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