Compared to other PHP frameworks, Laravel is recognized among the best ones because of its beautiful and clear syntax, powerful functions and not to mention a great number of libraries. It comes with facilities for authentication, routing, session and caching in-built that greatly reduces the development time. Laravel's Eloquent ORM makes SQL operations much easier, while the Blade templating engine makes front-end development easier. Additionally, Laravel's active community ensures continuous improvements and readily available solutions to common challenges. For your project, Laravel can provide a perfect balance of development speed, code quality, and scalability.