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The world's fastest growing cities
Three Indian cities are amongst the world's fastest-growing cities, says a Forbes report.
Most of the 'fastest-growing' in the world are predominantly in the Asian continent. As would be expected, as many as four Chinese cities find a place in the Forbes list.
Fast-growing cities make life better for citizens as they create good job opportunities and lucrative investment prospects for businesses and investors, as the demand for improved infrastructure and services increases.
Interestingly, the Forbes study does not include major recognized global metropolises like New York, London, Paris, Hong Kong, Tokyo, Seoul, Shanghai, Singapore, Beijing, New Delhi, Sydney, Toronto, etc. The study also gives the miss to megacities like Mumbai and Mexico City.
Instead, the Forbes report focusses on 'emerging global powerhouses' that are experiencing a major economic boom, not just in the opportunities they are creating but also in terms of urbanisation as huge masses of population migrate to these centres from the rural hinterland.
Forbes, however, cautions that the study should not be seen as 'set in stone, although it provides an educated guess into which of the world's cities are best positioned' to grow rapidly in the coming years.
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The world's fastest growing cities
Chengdu, China
Chengdu, the capital of Sichuan, is booming with economic activity, with China spending huge amounts of money on infrastructure development, setting up improved transportation and communications links, etc.
The city is China's base for information technology and electronics firms and is home to hundreds of multinational giants.
The city is producing hundreds of thousands of jobs and is well on the path to being one of the fastest growing cities in the world over the next decade.
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The world's fastest growing cities
Chongqing, China
Chongqing is China's third largest centre of motor vehicle production and the largest for motorcycles says Wikipedia.
It houses hundreds of foreign companies, making it a giant industrial centre in China. New jobs, fresh infusion of funds into developmental activities, and the pouring in of foreign investment have seen Chongqing grow at twice the rate at which China as a nation is growing.
That should give an indication to the speed at which this Chinese megacity is growing.
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The world's fastest growing cities
Ahmedabad, India
India's seventh largest city, Ahmedabad, is a major commercial hub in Gujarat, one of the fastest growing states in India and also one with the most business-friendly policies.
The city's economy is growing at breakneck speed and it houses major chemicals and pharmaceuticals comapnies.
Numerous foreign companies have set up bases in the city. Ahmedabad also boats of a thriving information technology industry.
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The world's fastest growing cities
Santiago, Chile
Santiago, the capital of Chile, has a well developed economy with mining, textiles, food processing, and some manufacturing adding to the city's rapid pace of growth.
Dozens of foreign companies have invested heavily into Santiago. The city has an impressive infrastructure and a robust financial market.
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The world's fastest growing cities
Raleigh-Durham, North Carolina
Raleigh-Durham, the capital of North Carolina, has a strong industrial, financial services, electronics and telecommunications base.
The city is not as expensive to set up base in as some other American cities, and that has seen many a technology giant make a beeline for Raleigh-Durham, thereby creating a major jobs boom.
The city is currently the fastest growing city in the United States of America.
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The world's fastest growing cities
Tel Aviv, Israel
Tel Aviv, Israel's second-largest city, is a major technological centre. Numerous global venture capital funds, high-tech companies, etc have set up major bases in the city.
Creation of more jobs with more foreign funds coming into the city in companies ranging from chemical processing, textile, food processing, technology, etc have given a major impetus to the city's growth.
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The world's fastest growing cities
Kuala Lumpur, Malaysia
Kuala Lumpur, the capital of Malaysia, is one of the most industrialised and economically fast growing regions in the country.
It is a major hub of economic and business activity, and a well developed centre for finance, insurance, real estate, etc sectors.
With impressive infrastructure, Kuala Lumpur is well on its way to creating more opportunities for businesses and investors and this will see it grow very rapidly over the next decade, says Forbes.
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The world's fastest growing cities
Suzhou, China
Suzhou sits cheek by jowl to Shanghai: it's only about 110 km from Shanghai. Some Chinese newspaper reports suggest that the city might already be the richest city in China.
After Shanghai, Suzhou is China's largest industrial city.
Its major industrial parks are a magnet for gigantic investments, both foreign and domestic, thus spawning thousands of jobs too.
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The world's fastest growing cities
Hanoi, Vietnam
Chinese, Japanese, American, Singaporean, European and Indian companies identify this fast-growing city as ripe for industrial and infrastructure growth, says Forbes.
Hanoi has the highest Human Development Index among the cities in Vietnam.
Industrial production in the city is experiencing a major boom. The city has a rapidly growing industrial base, which has put it on the path to becoming one of the world's fastest growing cities.
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The world's fastest growing cities
Chennai, India
Chennai's growth has been nothing short of sensational in the recent years. It is the major hub of automobile industry in India -- dubbed the Detroit of Asia. It also houses major electronics and telecommunications equipment firms.
In recent times it has also seen a huge boost to its software services and hardware manufacturing sectors.
The congestion in Bengaluru has led to many a company moving to Chennai thus providing it with a major growth impetus.
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The world's fastest growing cities
Austin, Texas
Alongside Silicon Valley and Raleigh-Durham, Austin is a major emerging technology powerhouse in the US. This has led to more investment and thus more jobs in the city.
The capital of Texas, Austin is also growing a huge centre for pharmaceutical and biotechnology companies.
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The world's fastest growing cities
Abu Dhabi, United Arab Emirates
Oil rich Abu Dhabi is among the world's wealthiest countries in terms of per-capita GDP, which exceeds $68,000, according to Forbes.
The city has world class infrastructure and a throbbing economy. Abu Dhabi is the capital of the United Arab Emirates. The UAE's large hydrocarbon wealth and its ambitious plans to grow rapidly has seen huge infusion of funds creating newer opportunities for businesses and job seekers.
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The world's fastest growing cities
Campinas, Brazil
Campinas is said to be one of the richest Brazilian cities. It is located in the state of Sao Paulo.
The city and surrounding areas house over 10,000 medium and large companies. Its main economic activities, says Wikipedia, are agriculture, textiles, motorcycles, cars, machinery, , chemical and petrochemical, pharmaceuticals, telecommunications, computers and electronics, etc.
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The world's fastest growing cities
Melbourne, Australia
Melbourne is the capital of the Australian state of Victoria. The city boasts of a diversified economy, with special focus on sectors like finance, manufacturing, research, information technology, and tourism.
It also is the base for many large corporations. In recent times, with Australia's trade with China and India rapidly expanding, Melbourne has been best placed to benefit from it.
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The world's fastest growing cities
Bengaluru, India
The capital of Karnataka, Bengaluru is also called the Silicon Valley of India.
Hundreds of major IT corporations, both home-grown giants and multinational majors, have their headquarters in the city.
It has the country's fourth fastest growing FMCG markets, and is home to thousands of millionaires.
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The world's fastest growing cities
Salt Lake City, Utah
Forbes sees Salt Lake City as a major emerging powerhouse.
Salt Lake City is the capital of the US state of Utah. Although the city has a service-oriented economy, it houses major industries, trade corporations, government establishments, etc.
The influx of major investments and creation of new work opportunities has put the city on the fast track.
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The world's fastest growing cities
Nanjing, China
About 250 km from Shanghai, Nanjing is witnessing a major construction boom due to its relative affordability, says Forbes.
The city has major electronics, automobiles, petrochemicals, iron and steel, and power companies that have boosted its growth.
Nanjing, with fine infrastructure, is also growing rapidly as a commercial centre.
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The world's fastest growing cities
Cape Town, South Africa
Cape Town is the second-most populous city in South Africa, after Johannesburg.
It is a major manufacturing centre and has four major commercial nodes. It is home to numerous insurance companies, retail groups, publishers, design houses, fashion designers, shipping companies, petrochemical companies, etc, says Wikipedia.
In 2009 Empowerdex rated Cape Town as the top-performing municipality in South Africa for service delivery, says Forbes.
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The world's fastest growing cities
Calgary, Canada
Calgary is positioned on 'the fringe of Canada's largest energy belt and enjoys lower taxes and less stringent regulations', says the Forbes study.
Calgary's economy is also dominated by oil and gas industry, apart from manufacturing and services.
Calgary, which boasts of impressive infrastructure, is well placed to be one of the fastest growing urban centres in the world.
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