Trends and Urbanization have transformed the global landscape over the past century as dramatically.
In fact, just in 1900, there were just 16 cities with more than one million inhabitants. But upward of half the world’s population now lives in urban areas, according to the Brookings Institution.
The 300 largest metropolitan economies account for nearly half of all global output.
Cities are now key economic drivers, but they are also constantly evolving. So which ones could see the most significant change in 2019?
Here’s the top 5 cities to look forward for 2019.
In meaningful terms it’s Bangalore in India, which is likely to see the strongest growth. We forecast GDP growth of 10.5% for Bangalore in 2019, even after adjusting for inflation,â€ says Richard Holt, the head of Global Cities Research with Oxford Economics.
The export-led manufacturing bases along China’s coast are likely to be the areas that really feel the pinch as their goods become more expensive to US consumers. That includes Zhongshan, says Deborah Elms, executive director of the Asian Trade Centre.
Zhongshan sits across the border from Macau in Guangdong province, which is Chinaâ€™s biggest technology and manufacturing hub.
London is the largest city in Europe and accounts for more than a fifth of the UK’s economy. But London undoubtedly faces a difficult and transformative year as the UK attempts to finalize a deal to withdraw from the European Union.
The International Air Transport Association predicts China will overtake the US as the biggest aviation market in 2022. This year, Beijing will take a big step towards that target.
“You could see more people connecting through both Beijing airports. Those airlines will use the cost advantages they have to lower fares on connecting long-haul flights,” says Taylor.
5.JAKARTA Jakarta has the ignominious distinction of likely being the world’s fastest sinking city in 2019.
“Jakarta does have a lot of factors coming together â€“ natural and man-made “ that do mean it is very vulnerable to rising sea levels,” according to Dr Katherine Kramer, the global lead on Climate Change for Christian Aid, which wrote a report on sinking cities this year.
The capital of Indonesia is low-lying, coastal and largely built on a swamp. But a more urgent problem is the use of groundwater by local residents, who pump it from underground aquifers.