Hotspots of dynamism despite political uncertainties
Despite political upheaval in western nations and ongoing economic uncertainty , many cities around the world continue to show impressive dynamism .
According to JLL ’ s latest Cities Momentum Index ( CMI ) report , the world has become a riskier place in the past year , testing the resilience of the world ’ s cities .
“ These disruptions are happening just as our cities are undergoing major structural change as the effects of globalisation , technological breakthroughs and rapid urbanisation combine to challenge the very fabric of our urban spaces ,” says JLL ’ s Jeremy Kelly – Director , Global Research at JLL .
“ Yet , despite the multiplicity of challenges , the 2017 CMI highlights remarkable dynamism in our major cities , many of which are consistently outperforming their national economies . Cities are taking up the mantle of globalisation and reaching out internationally to create new networks .”
The 134 cities covered by the CMI were assessed and ranked using 42 variables including GDP , population , corporate headquarter presence , commercial real estate construction and rents . Other factors included education , innovation and environment .
Kelly says successful cities are agile and open , enabling them to adapt quickly to each new wave of global change , absorb rapid population growth and strengthen global connectivity .
Cities in India ( such as Bangalore and Hyderabad ) and Vietnam ( like Ho Chi Minh City and Hanoi ), along with several in China and the United States , head the list of the world ’ s fastest-changing cities , with
“ The best-performing cities are also showing rapidly changing real estate markets , with many cities seeing strong demand drive high levels of take-up , rental growth and new office construction ”
technology remaining a prime driver of momentum .
“ Asia Pacific is by some distance the fastest growing of the regions , accounting for half of the top 30 fastest-changing cities ,” Kelly says . “ The economies of India , China and Vietnam are growing at particularly rapid rates and these markets are also seeing strong demographic growth , in terms of sheer numbers and growing
28 THE NEW ENGLAND INVESTOR