Listed below are Top 10 Fastest-Growing Cities in The World
Macao, Izmir, Bursa, and Xiamen aren’t the most popular cities on earth, yet they are among the 10 fastest growing cities as of late. The aftereffects of an investigation of in excess of 300 cities of the US examine focus Brookings Institute show that five of the ten with the greatest economic growth are in China, four in Turkey, and the rest in Dubai.
Dissimilar to what we may think: Tokyo, New York, Paris, and London haven’t had indistinguishable degrees of growth from these different cities in creating nations. In spite of being probably the most extravagant cities on earth, the examination is produced using economic growth and not riches. The GDP per capita growth mirrors the city’s normal pay and the business growth mirrors the economic effect, so in the two estimates, these cities outperformed those of created nations.
How about we investigate the 10 fastest growing cities on the planet!
Fuzhou is the capital of Fujian province, in the People’s Republic of China. It’s located on China’s east coast, just 249 kilometers from Taiwan. Therefore, it has benefited from the economic relationship between the island and China, becoming the political, economic, and cultural center of the province; as well as an important industrial center and seaport.
Fuzhou has a population of 7.2 million and its GDP per capita growth is about 8%. It’s an industrial center specialized in chemicals, food, and textiles; but the sectors that have grown the most in recent years are the entrepreneur, financial and professional.
The ninth position is occupied by Ankara, the capital of the Republic of Turkey. It has a population of 5 million inhabitants and it’s the seat of the parliament, ministries and diplomatic delegations. What makes Ankara part of these top 10 of fastest-growing cities is that it’s an important industrial and commercial center, strategically located in the national transport network.
Turkish cities, in general, are growing a lot thanks to a strong investment in infrastructure and construction. The manufacturing sector in Ankara, in particular, has experienced significant growth in employment and industry over the last few years.
The following city in this rundown of 10 fastest-growing cities additionally has a place with Fujian, China. It’s Xiamen, which has more than 3 million inhabitants. It was considered the best city in China in 2006 and the most romantic city in 2011. Thanks to this last reason, the GDP per capita growth of the city increased in 2014 and was about 8.6%.
Xiamen is one of China’s largest manufacturing centers and one of the nation’s fastest-growing cities in the last century.
Hangzhou is the capital and largest city of Zhejiang province in the People’s Republic of China. This city had GDP per capita growth of 7% and employment of 3.3% in 2014, the highest among the cities of China, which makes it one of the fastest-growing cities in the country.
Hangzhou, in addition, has experienced a great growth of the business, financial, and professional sectors and it’s an important center of electronic commerce. An example of this is the fact that it’s the global headquarters of Alibaba Group.
The fifth position of these top is also occupied by a Chinese city: Kunming. This is the largest city and capital of Yunnan province; it has more than 4 million inhabitants and a climate by which the city has earned the nickname “Chuncheng”, city of spring.
Kunming has a high GDP per capita growth with 8.1%, although in terms of employment 2.9%. However, it has become a center of transport and tourism for all Southeast Asia besides being the headquarters of important universities. Today is the Chinese city with the best economic performance and therefore, one of the fastest-growing cities in the country.
Dubai is actually one of the 7 emirates of the United Arab Emirates (UAE). It has a population of more than 3 million people; hence, it’s included in this list of the fastest-growing cities as the most populated city in the UAE with GDP per capita growth of 4.7% and employment of 4.5%.
Dubai in the last decade has become a global hub for transport, trade, tourism and professional services.
The following position on this rundown of 10 fastest-growing cities is Bursa, and it’s because of its car industry. Bursa is located in northwestern Turkey and it’s the fourth largest city in the country, with almost 4 million inhabitants.
This city is known internationally as an important center of automotive production. In addition, it’s nicknamed as the Detroit of Turkey as there is a strong presence of large multinationals such as Renault and Fiat. All this has contributed to its strong employment rate.
Istanbul is the most populated city in Turkey and the historical, cultural, and economic center of the country. It has more than 14 million inhabitants and it’s the second city in the country in terms of job creation with a very important diversified economy in the services, tourism, commerce, and manufacturing sectors.
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Istanbul represents a quarter of Turkey’s economy. For this and the above, it’s considered one of the fastest-growing cities in the world.
Izmir is located on the west coast of Turkey and it’s the third-largest city in the country with more than 4 million inhabitants. It’s part of these top 10 of the fastest-growing cities because, globally, it’s the second city that has grown the most in economic terms, surpassed only by the Chinese city of Macau.
Izmir has been a commercial center since the 17th century with access to the Mediterranean and the Aegean Sea. The government has used this location for the promotion of industrial zones. This is not only the city where employment grew the most in 2014, but during 2009-2014 it was the second, which shows its solidity and economic continuity.
1. Macau, the fastest growing city in the world
Macao, with a GDP per capita growth of 8% and an increase in employment of 4%, tops this list of the 10 fastest growing cities; the city grows above the country’s economy. Obviously, its low populace of around 500 thousand individuals favors this achievement. But the big reason behind it lies in that it’s the only place in China where casinos are legal.
This small territory has become China’s gambling center. This has attracted the investment of multinationals like Wynn, Sands, and MGM and contributed decisively to its phenomenal growth.