Which cities will contribute most to global growth?
A study by Oxford Economics identifies future trends and market opportunities in the world’s largest 750 cities, taking into account population size, age and income per capita.
According to the paper, New York City will contribute the most to global economic growth by 2030. Unsurprisingly, China is the country with the most cities in the top 10.
The study finds that the world’s 750 largest cities represent 57% of global gross domestic product (GDP), and will contribute 61% by the year 2030.
In that year, there will be 410 million more people living in these cities. That means approximately 240 million new jobs and 260 million new homes will need to be created. Also, citizens of these cities will have 1.1 billion jobs, representing 30% of total jobs.
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Author: José Santiago, Senior Associate, Public Engagement at the World Economic Forum.
Image: Vehicles drive on the Guomao Bridge through Beijing’s central business district REUTERS/Jason Lee
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