fDi Markets Newswire:

Home / News / GlobalData: Asian megacities set for future growth

Rising job opportunities will likely lead to the future expansion of Asian megacities, according to GlobalData.

Some 8.2% of the world’s population reside in megacities, or cities with a population over 10 million, according to market researcher GlobalData’s City Economics Database. Megacities account for 14% of global GDP and offer “numerous opportunities for businesses, investments, and trade, while offering… a good standard of living”, said GlobalData.

Today, the overwhelming majority of megacities are located in Asia, which includes major metropolitan areas, such as Tokyo, Shanghai and New Delhi. In 2017, 21 Asian megacities were included among the 35 most populous cities in the world, according to the database.

In addition, the report predicts that Asian cities will continue to undergo rapid population expansions in the future, with Hyderabad, Lahore, and Zhengzhou expected to reach megacity status by 2025.

By 2025, Tokyo, the most populous city in the world with 36.68 million people), is predicted to increase by nearly two million people, according to the database. Likewise, Chinese megacities – Shanghai, Beijing, Guanzhou, Tianjin and Chongqing – are all expected to experience significant population increases before 2025.

Elsewhere, Bogotá and Cairo are predicted to reach megacity status between 2017 and 2025, while Europe is not expected to gain any megacities before 2025.

As megacities continue to expand globally, urban developers will have to plan accordingly, said Ramnivas Mundada, economic research analyst at GlobalData. “The right planning and investments in education, infrastructure, technology and transport, along with the adoption of robust social policies can help megacities achieve sustainable growth,” he said.   

This article is sourced from fDi Magazine
fDi Magazine

The fDi Report 2018: Free Download

The fDi Report 2018 promobox

Crossborder investment monitor

fDi Markets - Cross border investment monitor

fDi Markets is the only online database tracking crossborder greenfield investment covering all sectors and countries worldwide. It provides real-time monitoring of investment projects, capital investment and job creation with powerful tools to track and profile companies investing overseas.

Click here to find out more about fDi Markets

Corporate location benchmarking tool

fDi Benchmark is the only online tool to benchmark the competitiveness of countries and cities in over 50 sectors. Its comprehensive location data series covers the main cost and quality competitiveness indicators for over 300 locations around the world.

Click here to find out more about fDi Benchmark

Research report

fDi Intelligence provides customised reports and data research which deliver vital business intelligence to corporations, investment promotion agencies, economic development organisations, consulting firms and research institutions.

Find out more.
Follow us on Twitter