India Sweeps Top Ten in List of World’s Fastest-Growing Cities

0
36

(Bloomberg) — When it comes to the top 10 cities for economic growth, India is set to dominate over the next two decades, according to Oxford Economics.

Surat, a diamond processing and trading center in the western state of Gujarat, will see the fastest expansion through 2035, averaging more than 9 percent, Richard Holt, Oxford’s head of global cities research, wrote in a report. All of the 10 fastest over that period will be in India.

a screenshot of a cell phone: India's Dominance© Bloomberg
India’s Dominance

While economic output in many of those Indian cities will remain rather small in comparison to the world’s biggest metropolises, aggregated gross domestic product of all Asian cities will exceed that of all North American and European urban centers combined in 2027. By 2035, it will be 17 percent higher, with the largest contribution coming from Chinese cities.

Little will change at the top of the list of the world’s biggest cities between now and 2035.

New York, Tokyo, Los Angeles and London will defend their spots as Shanghai and Beijing — each boasting more than 20 million people — surpass Paris and Chicago. Guangzhou and Shenzhen in Southern China will also make the top 10, crowding out Hong Kong.

a screenshot of a cell phone: Largest Cities© Bloomberg
Largest Cities

The fastest-growing African city is the Tanzanian port of Dar es Salaam, while the top spot in Europe is held by the Armenian capital of Yerevan, according to the report. San Jose — a proxy for Silicon Valley — will be best performer in North America.

(Corrects spelling of the Indian state of Gujarat in second paragraph.)

To contact the reporter on this story: Xiaoqing Pi in Frankfurt at xpi1@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Jana Randow, Zoe Schneeweiss

For more articles like this, please visit us at bloomberg.com

©2018 Bloomberg L.P.

Read more from source here…

LEAVE A REPLY

Please enter your comment!
Please enter your name here