Hyderabad is the most dynamic urban center in the world, according to the latest JLL City Momentum Index. The results reveals that Asia Pacific is home to the most dynamic urban centers in the world with three-quarters of the world’s top 20 cities in the region.
JLL City Momentum Index combines socio-economic and commercial property metrics of 130 markets to identify the world’s most dynamic urban centers.
The Index identifies a number of key growth drivers, including talent attraction, the expansion of innovation hubs and better urban planning, that cities can employ to meet the challenges faced by rapid momentum.
The results show a continued shift in global influence from west to east, with Indian, Chinese and Vietnamese cities dominating the top positions. India – with seven cities in the top 20, the most of any country – leads the 2020 Index, despite last year’s slowdown of the nation’s economy. This strength is driven by locations in the country’s southern states, as Hyderabad (1st) and Bengaluru (2nd) retain their status as the top two cities for short-term momentum.
China’s role in driving global momentum continues to be significant; one-fifth of the global top 20 cities are in China. Shanghai stands alone as the only city to feature in the top 20 throughout the past seven years.
Amid the abundance of Asian cities in the lead, this year’s rankings are also the most geographically diverse for several years. North American cities Silicon Valley (9th) and Austin (19th) feature in the top 20 for the first time. There are also signs of momentum returning to the Middle East, with Dubai ranking in the top 20 for the first time in three years and the Saudi Arabian capital, Riyadh, breaking into the top 20 for the first time.
“The remarkable dynamism in the emerging Asian economies is proof that economic reforms, business growth and infrastructure investment can drive the expansion of industry, significantly in the tech sector, and facilitate a start-up culture. This is now being repeated the world over, as geographical diversity looks to be returning to the Index,” says Jeremy Kelly, Director of Cities Research at JLL.
“One common ingredient when looking at cities that succeed at rapid-growth is the importance placed on governance and leadership – something often overlooked. The complex nature of city transformation relating to the innovation economy, climate mitigation and a changing geopolitical world means a city’s governance system is increasingly critical to a city being ‘future-fit’ for the coming decades,” adds Kelly.