Bangalore has emerged as the most dynamic city in Jones Lang LaSalle’s fourth annual City Momentum Index of cities around the world, followed by Ho Chi Minh City of Vietnam and Silicon Valley in the U.S.
The Index tracks the speed of change of a city’s economy and commercial real estate market. It covers 134 major established and emerging business hubs and identifies cities that have the potential to maintain the greatest dynamism over the short and long term.
“Most dynamic cities share the ability to embrace technological change, absorb rapid population growth and strengthen global connectivity. Cities in India, China and Vietnam, along with several in the U.S., head the list of the world’s fastest changing cities,” said a press release by Jones Lang LaSalle.
Asia-Pacific cities comprise half of the top 30 fastest-changing cities. India has taken over from China as home to some of the world’s most dynamic cities. Six Indian cities feature in the CMI Global Top 30, with the country’s primary technology hub, Bangalore, moving into the top spot for the first time.
“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.”
Jones Lang LaSalle will publish full research findings on February 1, 2017.
Credits ET Realty