600 cities to generate 65% of world economic growth by 2025: McKinsey Global Institute report
Cities and their economies have been expanding on a whirl-wind speed for more than a decade now. With a combination of consumption and investment in physical capital, growing cities could contribute up to $30 trillion a year to the world economy by 2025.
Thus, it becomes important to understand cities and the shift in their demographics so as to reach urban consumers and to prepare for challenges that may rise due to increase in demand of resources like water and energy. Not only shall this, but change in demand of urban populace in terms of capital to invest in new housing, office building and transport be taken care of.
A new report from the McKinsey Global Institute, Urban world: Cities and the rise of the consuming class, finds that the 600 cities making the largest contribution to a higher global GDPthe City 600will generate nearly 65 percent of world economic growth by 2025.
Read full report here
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