According to a report by Oxford Economics, India is set to dominate the list of top 10 cities for economic growth over the next two decades.
The important takeaways from the report are —
- According to Richard Holt, Oxford’s head of global cities research,”Surat, a diamond processing and trading center in Gujarat, will see the fastest expansion through 2035, averaging more than 9 percent.”
- All of the 10 fastest over that period will be in India.
- 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.
- 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.
- San Jose — a proxy for Silicon Valley — will be best performer in North America.
- The 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 per cent higher, with the largest contribution coming from Chinese cities.
