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In the next decade, mega cities around the world will come to be defined by more than just super growth.
While the world’s top cities have long been scored on the factors of economic growth, foreign investment and having a thriving job market, the ideals of affluence, innovation and liveability - all to do with the quality of growth, and not just quantity - are coming into increasing prominence.
And in Asia, the world’s most populous country, China, is set to dominate the list of top Asian mega cities by 2030.
Asian tigers Hong Kong and Singapore will continue to impress, but will face intense competition from rising Chinese cities.
Although both developed economies still boast highly liveable environments and strong investments in innovation and education, slowing population and GDP growth will affect their standings. In contrast, few of the eight Chinese cities poised to make up the rest of Asia’s top ten mega cities by 2030 face the same challenges.
Leading the pack is Shenzhen, the next-door neighbour of Hong Kong’s, which is now Southern China’s tech hub and set to become the top Asian mega city within the next decade. Its GDP could surpass Hong Kong’s current level, making it a close competitor for Singapore, which is likely to keep its crown for having the highest GDP per capita.
In addition to strong growth in its services sector and retail sales, Shenzhen’s government has the highest spending on R&D among all Asian cities and the city also boasts good infrastructure, air quality and international connection.
Not far behind are cities like Guangzhou and Nanjing, in addition to the established metropolises of Shanghai and Beijing.
To download the full report on Reimagining Cities, please click the following:
Singapore Property: Room to Upgrade
Hong Kong
India
Indonesia
China
Taiwan
