You’ll see why growth strategies focused at the country level may fall short in the future: with new hot spots emerging and household wealth surging in little-known urban centers, companies may have to adopt a much finer-grained approach to tap into the growth that lies ahead. Use minimal essential Seven Types of Global Cities. But in the 1990s, New York and a handful of other "superstar cities" such as Seattle and San Francisco made a roaring comeback. London, which is facing a period of political and economic change, ranks second overall. 8 Global Cities of the Future - a GCC perspective DUBAI, UNITED ARAB EMIRATES Dubai, strongly positioned as a financial, retail, construction, and transportation services hub for the region, is the leading global city in the GCC. cookies. Explore the globe and view data on the dramatic urban growth expected by 2025. So far this year, we’ve announced partnerships with two cities – Aberdeen in the UK and Houston in the US. The world is urbanizing rapidly. Cities account for more than half of the world’s population and about 80% of global GDP. It’s hard to separate the future of the world from the future of cities. In fact, it is estimated today by McKinsey that the 600 top urban centers contribute a whopping 60% to the world’s total GDP. Some of the leaders among global cities are currently cities such as New York, Hong Kong, London, or Tokyo. Please click "Accept" to help us improve its usefulness with additional cookies. Source : “Connectography – Mapping the future of global civilization” – Parag Khanna The economic role of large cities varies widely between regions. People create and sustain change. Asia Pacific dominates this measure, with 60 per cent of Shenzhen’s population within the young age demographic, double the global average. London and Dublin have retained their positions in second and … Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more. Cities can act as key nodes in these global flows, spurring the creation of high-quality jobs and economic output. London and Dublin have retained their respective second and third positions – although the gap between them is closing. The culture of attracting R&D investments contributed to the city’s top ranking in the Economic Potential category, having welcomed 220 such projects in the five years to 2017 – the highest number of all locations globally. The investment will aim to develop its research base, labour force and innovation and enterprise in four key sectors: advanced manufacturing and engineering, health and biomedical sciences, urban solutions and stability, and services and the digital economy. Assessing our performance against our international peers is critical to monitoring our progress as a city and for Dublin to place in the top 3 for fDi Global Cities of the Future reflects a business friendly ecosystem of collaboration and innovation that has been fostered though coordinated public policy across all levels of Government including Dublin City Council, Dublin City Council’s Chief Executive, Owen Keegan. In 2016, the average capital investment of FDI projects was $58.1m and the average number of jobs per investment was 151, but by 2017 this had fallen to $47.3m and 135 jobs. Internet of Things help cities clean up their act Real-time monitoring is transforming our ability to nip disease outbreaks in the bud Tide turns in favour of coastal defences with Manhattan projects Dublin boasts the highest level of FDI on a per capita basis of all locations in the study. Locations scored up to a maximum of 10 points for each datapoint, which were weighted by importance to the FDI decision-making process in order to compile both the subcategory rankings as well as the overall ‘Global Cities of the Future 2018/19’ ranking. Global cities of the future 2018-19 1. As we researched our data points amidst the COVID-19 firehose of news and scientific discovery, it became clear that the global spread of the coronavirus is intricately intertwined with the climate crisis and how we should be thinking about the future of our cities. Our flagship business publication has been defining and informing the senior-management agenda since 1964. Cities used to grow by accident. These cities are deemed strategic sites and have a direct and lasting effect on global affairs through socio-economic means. Global cities of the future Explore the globe and view data on the dramatic urban growth expected by 2025. Don't miss this roundup of our newest and most distinctive insights, Select topics and stay current with our latest insights, Global cities of the future: An interactive map. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. According to investors, the action-oriented approach the city takes to addressing their needs makes Vilnius an even more attractive destination to settle in. Six international airports are located within 80 kilometres of the UK capital, which remains the world’s most connected city with over 335 international destinations directly accessible, helping it to rank first in the Connectivity category. The city received the highest number of FDI projects globally between 2013 and 2017, while also notching up the highest number of outward FDI projects. Explore these questions by browsing through this revised and updated interactive global map below, which contains city-specific highlights from the McKinsey Global Institute’s database of more than 2,600 metropolitan areas around the world. Our new strategy outlines our aim to partner with 10-15 cities across the globe over the next decade to help them reach their net zero goals and create the cities of the future. 8 Cities That Show You What the Future Will Look Like. Singapore has been crowned fDi’s Global City of the Future, marking the third successive victory for the Asian city-state. This category, the only qualitative category, feeds into the overall result. Dublin, Singapore and London have been crowned fDi’s global cities of the future. fDi Global Cities of the Future 2018/19 – FDI Strategy. For more information, visit our Urban World site. Which of them will contribute the largest number of children or elderly to the world’s population? Unleash their potential. 20 Global Cities of the Future 2018/19 Winners www.fDiIntelligence.com December 2018/January 2019 S ingapore has once again been crowned fDi’s Global City of the Future, marking the third successive victory for the Asian city- state. Melbourne is a city with an inclusive and diverse multicultural community, high quality of life, incredible parks and open spaces, a booming arts and music scene and incredible food and wine. The headquarters or regional headquarters of most major This suggests there are significant opportunities for other cities as well. Singapore has once again been crowned fDi’s Global City of the Future, marking the third successive victory for the Asian city-state. Beyond its threat to our health, it has affected our work, education, childcare, and even how we think about our cities. Globally, although FDI projects have increased slightly between 2015 and 2017, the size of both the investment value and the number of jobs has decreased. The 2019 Global Cities Index shares incredible insight into trends shaping the world. The list of 129 locations was drawn up to include the top 100 locations in terms of inward FDI projects on fDi Markets, plus any additional locations in the top 15 as classed for each region, not in the original list of 100 locations. McKinsey Global Institute’s Urban World app for iPhone, iPad, and Android devices uses a database of more than 2,600 cities around the world to illustrate how global economic power is shifting. GLOBAL cities are influential, progressive, connected, diverse, and optimistic cities. "The We Company recently announced new ‘future cities initiatives’ which will combine technology, data and real estate to ‘help address problems spurred by globalisation, urbanisation and climate change.’ The project will involve a team of engineers, architects, data scientists and biologists. One key measure of high-value workforce is the proportion of population from 20 to 40 years old. As part of the RIE2020 plan, which details Singapore’s strategy for research, innovation and enterprise investment, the government plans to invest $19bn between 2016 and 2020. McKinsey Global Institute’s Urban World app for iPhone, iPad, and Android devices uses a database of more than 2,600 cities around the world to illustrate how global economic power is shifting. Singapore has been crowned fDi’s Global City of the Future for the third year in a row, while London and Dublin have retained their positions in second and third, respectively. tab. This trend of urbanization has been a boon to global growth and the economy. Cities of the future Cities of the future - global competition, local leadership Contents Part 1 Cities of the future Executive summary 1 Chapter 1 The vision for cities 7 Chapter 2 The way to the future in cities 13 Chapter 3 Managing capitals 27 Chapter 4 Capitals, the key issues 37 4.1 Intellectual and social capital 38 4.2 Democratic capital 45 Global cities of the future – The Manila Times. In the future I think we’ll see more and more vertical diverse buildings. By 2050, almost 70% of the global population will reside in cities. How will regional patterns of growth differ? Learn more about cookies, Opens in new The Shanghai Tower that we’re currently completing in China is effectively a city within a building. Shawn Gehle: Hope for the Future. In addition, surveys were collected under a sixth category, FDI Strategy. They are melting pots of cultures and ideas, attracting millions of people by the promise of a better future. Reinvent your business. Flip the odds. The Global Future Cities Programme’s Platform is a shared space for city leaders and urban practitioners to connect, learn, engage and contribute knowledge, tools, best practices, events and advice to encourage sustainable development and increase prosperity. hereLearn more about cookies, Opens in new Growth in global greenfield FDI has been sluggish in recent years, not exceeding 14,000 projects since 2013, according to data from greenfield investment monitor fDi Markets. The top 780 global cities already produce almost 60 per cent of all world economic activity, and they are set grow in importance as urbanisation continues. This seemingly unstoppable phenomenon started slowly at the beginning of the 1900s, when 15% of the global population lived in cities, large and small. Press enter to select and open the results on a new page. No further details are available at this stage, but resist the temptation to dismiss The Global move represents “the biggest development … Cities are responsible for more than 75% of global CO2 emissions. These gigantic Meccas have been the frontrunners in … 3. Global Cities: The future of the world’s leading urban economies to 2035 The world is ever more urban. The global rural population is now close to 3.4 billion and is expected to rise slightly and then decline to 3.1 billion by 2050. fDi Intelligence and its journalism are subject to a self-regulation regime under the, Logistics, distribution and transportation. In the five-year period analysed, almost half of all investments in the city were tech-based. US cities will continue to be important players in the urban world, contributing more than 15 % of global GDP growth in the coming years. Sign Up Now. Learn about McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. The importance and role of cities is increasing recognised - the future of cities … Which will rank among the top 25 cities by per capita GDP? As a municipality, we put great effort into helping investors settle in and feel comfortable in our city by running special relocation workshops, and also provide valuable support and consultations for those already in Vilnius. And their dominance is growing: by 2045, an extra 2 billion people will live in urban areas. Published February 8th, 2017 - 06:27 GMT. Singapore and London are the top destinations for foreign investment globally, accounting for almost 5% of all investment since fDi Markets records began in 2003. Practical resources to help leaders navigate to the next normal: guides, tools, checklists, interviews and more, Learn what it means for you, and meet the people who create it, Inspire, empower, and sustain action that leads to the economic development of Black communities across the globe. Our cities, compared to established and developing global cities London, New York, Singapore, Shanghai, and Dubai, lag a bit behind with global cities only starting to emerge from renewed foreign investment. At the start of 2020, global investment in city projects was reaching new heights. Singapore’s economic stability helped to attract almost 1900 FDI projects between 2013 and 2017, with its low unemployment rate of 2.8% and GDP per capita of more than $90,000 at purchasing power parity. The gap between the two cities narrowed between 2015 and 2017, and data to date for 2018 suggests that Singapore is on course to overtake London. Principal at the global design firm Gensler. Some cities, such as Detroit, never fully recovered from that era. We use cookies essential for this site to function well. Over the past 10 years, the report has evolved to better reflect the factors that impact the success of cities. Looking to the future, many Asian cities will become significant concentrations of talent. Cathy Mullan reportS F rom 2003 to 2009, FDI enjoyed year-on-year growth until suffer- BCG partners with governments and businesses to ensure that cities are designed to thrive—now and in the future. About 55 percent of the world’s population now resides in urban areas, which is expected to grow to 68 percent by 2050. That number is seen reaching 60% by 2030. Global Cities of the Future: Sharjah, Dubai make top ten list for connectivity. Please use UP and DOWN arrow keys to review autocomplete results. For this category there were 31 submissions: locations submitted details about their strategy for promoting FDI, which was then scored by fDi’s judging panel. The trend towards increasingly larger cities shows no signs of stopping, as the world’s growing population keeps flocking to urban areas. According to a new report released this week, Houston ranks among the world's top cities of the future for global business investment, human capital and lifestyle.. Houston is third in the overall ranking of the new fDi Tier 2 Cities of the Future 2020/21, which takes a closer look at the non-capital cities with a population under eight million. Please try again later. The UK as a whole has a high penetration of internet usage and performs well on various indices, including the ICT Development Index from ITU and the Logistics Performance Index from the World Bank. We’re proud and honoured to receive global recognition from fDi Intelligence as the top major human capital and lifestyle city. The majority of the global population currently live in urban areas, and this is expected to increase in the future. The world’s biggest spending cities were investing in over 8,200 projects in 2019, with a … An emerging cities location list was determined and ranked, comprising locations where GDP per capita is below 35,000 international dollars. The Global move represents “the biggest development opportunity in the history of the planet,” asserts Speyer. The future of cities in a simple equation From growing urbanization to sustainability, there are important issues to tackle when it comes to smart cities. collaboration with select social media and trusted analytics partners Contemporary cities have consisted of mostly single-purpose or single-use buildings. Something went wrong. The city has established a reputation as a software and IT hub, with major investments in recent years from US software giants including Facebook and Google. The COVID-19 pandemic has created a massive upheaval of life as we know it. Digital upends old models. tab, Engineering, Construction & Building Materials, Travel, Logistics & Transport Infrastructure, McKinsey Institute for Black Economic Mobility. our use of cookies, and US-based Equifax, which provides information solutions, credited its November 2017 announcement to expand its Dublin operation to Ireland’s globally recognised reputation as a tech hub. Our cities, compared to established and developing global cities London, New York, Singapore, Shanghai, and Dubai, lag a bit behind with global cities only starting to emerge from renewed foreign investment. Only six major cities—Dubai, London, Hong Kong, New York, Singapore, and Tokyo—are major hubs for all types of flows. Global Cities of the Future 2014/15 Winners www.fDiIntelligence.com December 2014/January 2015 SIngapore haS claImeD the tItle of fDi’s global cIty of the future 2014/15, wIth lon Don anD hong Kong In SeconD anD thIrD place, reSpectIvely. Learn more from this report put together by Kearney experts. The 2018 report includes the Global Cities Index, which examines cities’ performance, and the Global Cities Outlook, which evaluates their potential (see sidebar: 135 Cities, Six Global Regions, One Powerful Report). Cathy Mullan reports. To create a shortlist for fDi’s Global Cities of the Future 2018/19, the fDi Intelligence division of the Financial Times collected data using the specialist online tools fDi Markets and fDi Benchmark. Most transformations fail. The future of cities Cities may occupy just 2 per cent of the earth’s land surface, but they are home to more than half of the world’s population and generate 80 per cent of all economic output. Over the next 13 years, 600 cities will account for nearly 65 percent of global GDP growth. Data was then collected for these 129 locations under five categories: Economic Potential, Business Friendliness, Human Capital and Lifestyle, Cost Effectiveness and Connectivity. 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