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The city is a major business and cultural center in the Bajío region. Guadalajara was recognized as having the best quality of life and most livable city in Latin America by Latin Business Chronicle's "Latin Cities Index" (2007). Guadalajara has been ranked highly on international liveability rankings, including being listed 4th in "Best Global cities" by Mercer (2011), 5th for student experience according to Times Higher Education World University Rankings (2013), 6th for innovation according to Innovation Cities Top 100 index by 2thinknow(2014) 7th out of 140 global cities with more than 1 million people according to EIU's 2016 annual ranking, 8st among 50 top global universities under 50 years old list published at QS world university rankings 2017.