Also, Six Indian cities in the world’s most dynamic list. Bengaluru is world’s most dynamic city as per JLL Index!
HYDERABAD: Hyderabad, the City of Pearls , has made it to the top 10 most dynamic cities across the world chosen by JLL City Momentum Index (CMI) 2017. It has been placed fifth with Bangalore on top of the list.
Other cities that made to the list are: Ho chi Minh City (2-Vietnam), Silicon valley (3-USA), Shanghai (4-China), London (6-UK), Austin (7-USA), Hanoi (8-Vietnam), Boston (9-USA) and Nairobi (10-Kenya).
According to the index released by the Chicago-based cities research centre, JLL measures population, connectivity, technology, research & development, education, construction, real estate investment and property prices as the main criteria for choosing the most dynamic cities.
The JLL index says that a city’s capacity to embrace rapid change determines its ability to compete in the world – today and in the future. “The overriding factors that characterise the world’s most dynamic cities are technology and innovation and cities that best absorb, adapt and leverage these drivers come out on top”, adds the report.
Although the most dynamic cities are spread across the world, more than half of the top 30 in the 2017 ranking are in Asia-Pacific. Bangalore, India’s technology centre, has taken the number one spot. In fact, India snatched the lead from China as home to some of the world’s fastest-changing cities, taking six of the top 30, compared with China’s five.
“Liveability is also surfacing as an increasingly important driver of momentum, as it is key to attracting talent. Affordability and space constraints in San Francisco (21) contributed to knocking that city out of the top 20 for the first time and Hong Kong out of the top 30. The environment is also becoming a more critically determining factor in the index. Although in the top 30, Delhi (23) and Beijing (15) were hindered by poor environmental scores”, says the JLL CMI. JLL is a financial and professional services firm specialising in commercial real estate services and investment management.
Six Indian cities in the world’s most dynamic list
Six Indian cities have made it to the world’s 30 most dynamic places that have the ability to embrace technological change, absorb rapid population growth and strengthen global connectivity, with Bengaluru topping the chart.
Cities in India, China and Vietnam, along with several in the US, head the list of world’s fastest changing cities in JLL’s fourth annual City Momentum Index.
Other Indian cities in the list are Hyderabad at the 5th position, Pune (13), Chennai (18), Delhi (23) and Mumbai (25).
Asia Pacific cities comprise half the top 30 fastest-changing cities. “India has taken over from China as home to some of the world’s most dynamic cities. Six Indian cities feature in the CMI Global Top 30, with the country’s primary technology hub, Bangalore, moving into the top spot for the first time,” JLL said.
Top 10 cities in the JLL index are Bengaluru, Ho Chi Minh City, Silicon Valley, Shanghai, Hyderabad, London, Austin, Hanoi, Boston and Nairobi.
“With more than half the world’s population currently living in cities, a proportion that is expected to grow substantially over the next few decades, the success of our cities takes on great importance,” said Jeremy Kelly, JLL Director in Global Research.
The report noted that dynamic labour markets help fuel some ‘Emerging Megacities’ such as Chennai, Manila, Delhi and Mumbai. However, this group faces significant infrastructure and quality of life issues, with high levels of inequality, congestion and pollution hindered by weak city governance.
In all, 134 cities were assessed by CMI using 42 variables including recent and projected changes in city GDP, population, corporate headquarter presence, commercial real estate construction and rents.