“Oxford Economics in its report Global Cities: The future of the world’s leading urban economies to 2035” predicting 17 of 20 fastest-growing cities in the world will be from India in the term of GDP growth between 2019 and 2035
- Major Findings of the reports:
- Surat, a commercial center for textiles in Gujarat, will witness the fastest GDP growth followed by Bangalore and Agra.
- Outside of India, Phnom Penh is the fastest growing city in the world in the 2019-2035 forecast
- When it comes to the total size of the economies, New York will continue to be the largest urban economy due to its growing finance & business service sector
- In comparison to the world’s biggest metropolises, India’s economic output is expected to remain small.
- According to the forecast, in 2027, the aggregate GDP of all Asian cities will for the first time exceed the combined GDP of all North American and European Cities.
- The faster the cities’ economies grow; the more migrants they will attract. This, in turn, will pressure already scarce resources such as land and water.
- More inhabitants will require more energy, adding to the carbon footprint of these cities.