Dynamic all the way
The dynamism of Asia, or its urban areas, is once again out in the open with Jones Lang LaSalle’s newest annual City Momentum Index (CMI) report, out in February.
The report’s latest list of the World’s Most Dynamic Cities, which tracks 134 metropolises and economic hubs around the globe, is still awash with Asia-Pacific names. In fact, cities from the region populate more than half of the top 30.
As dynamic as Asian cities are, nothing ever stays in the same position. Cities such as Tokyo, Seoul, Singapore and Hong Kong are missing from the top 20 this year. Most remarkably, India trounced China as home to the continent’s most dynamic urban areas.
“With more than half the world’s population currently living in cities, a proportion that is expected to grow substantially over the next few decades, the success of our cities takes on great importance,” noted Jeremy Kelly, JLL Director of Global Research. “The CMI highlights that, despite various political upheavals and ongoing economic uncertainties, many cities continue to show impressive dynamism. Keys to their success are the agility and openness that enable them to adapt quickly to each new wave of global change.”
Here are the five fastest-changing cities on earth, according to JLL:
Six Indian cities feature in the top 30, but the country’s technology capital Bangalore is the most dynamic city of them all. The metropolis is one of several “agile high-value emerging cities” shifting to higher-value manufacturing and service-based activities.
2. Ho Chi Minh City
Vietnam’s largest city is an exemplar of the report’s list of “high potential cities” currently benefiting enormously from low costs, rapid consumer market expansion and high levels of foreign direct investment (FDI).
3. Silicon Valley
The southern portion of the San Francisco Bay Area parlayed its world-famous tech excellence into a third-place ranking on this year’s list. A “new world city,” Silicon Valley prides itself in robust infrastructure and attractive livability platforms.
Which part of Shanghai is not changing? China’s largest city is in a constant flux. One of the world’s most heated housing markets, Shanghai has grandiose plans in place to make itself a smart global city by 2040.
Hyderabad is the second most dynamic Indian city in the world. “What has become apparent is Hyderabad and Bengaluru are now becoming more tightly networked and are outperforming their national economies,” the researchers contended.
A full list of the top 10 most dynamic cities in the world:
3. Silicon Valley