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Taking the Gloom Out of the Globe

Developing Cities = Beacons of Hope Taking the Gloom Out of the Globe How Developing Cities Are Taking the Lead in the Global Recovery Of the 200 largest global metropolitan economies in 2011, 90% of the fastest growing were located outside North America and Western Europe. Economically speaking, it's all doom and gloom in the world as the debt crisis reaches near pandemic proportions. Thankfully, Although less than half of the world's 200 largest metro economies surpassed their pre-recession levels of employment and/or income by 2011, nearly all developing Asia-Pacific and Latin American regions hit new highs in there are some bright spots, those cities that are bouncing back and shining light into the gloomy haze. Local economic growth will help ignite widespread recovery, so these hubs of growth both measuremen should be a beacon of hope for the countries in which they reside, as well as the rest of the world. Income and Employment: In 2011, developing metro regions led the list of regions with the fastest-growing income and employment in the world. As you can see, the 40 cities boasting the strongest growth are almost all in developing nations. Employment: The number of people who performed any work at all in the reference period, for pay or in-kind, or who were tempo- rarily absent from a job for such reasons as illness, maternity or parental leave, holiday, training, or industrial dispute. Income: Per capita GDP. Only two of the top 40 growing metro economies were in North America -- both in Texas: Houston and Dallas. RegionsO Developing Asia-Pacific Developed Asia-Pacific Middle East O and Africa Eastern Europe & Central Asia O Latin America Western Europe North America Fastest-growing global metropolitan areas in 2011 Percent change 2010-2011 Income Employment Shenyang 01 Foshan Singapore 31 Istanbul 11 21 11.6 1.7 6.7 3.0 5.3 5.6 3.5 4 2.3 Shanghai Shenzhen Warsaw Bangkok 32 02 12 22 9.8 9 5.8 6.5 9 4.9 5.2 A 1.7 3.3 2.4 Casablanca 33 Wuhan Mumbai Stuttgart 03 13 23 9.8 2.5 6.2 A 4.3 5.1 1.9 3.3 3.8 Nanjing Hangzhou Taichung Belo Horizonte 04 14 24 34 9.3 2.7 9 5.8 5-5 4.7 2.5 3.1 3.2 Tianjin 05 Santiago 15 Monterrey 35 Lima 25 8.4 2.2 5.7 4.9 4.7 2.5 3.1 E 3.6 Guangzhou 16 Hong Kong 26 Xi'an Beijing 36 06 2 8.4 0.6 5.5 2.5 4.6 * 2.8 3.0 3.3 Chongging 07 Jakarta Ulsan Sao Paulo 17 27 37 8.1 A 0.0 5.5 3.0 4.6 2.2 3.0 2.6 Riyadh 08 Brasilia 38 Izmir Bogota 18 28 7.8 6.3 5.5 5.6 4.0 2.6 2.6 3.1 Buenos Aires Houston Stockholm Kuala Lumpur 09 19 29 39 7.3 H 2.5 5.5 2.5 4.0 M 2.0 1.0 4.9 Jeddah Ankara Dallas Bucharest 10 20 30 40 7.0 5.5 5.4 5.7 3.7 2.4 1.0 4.0 Metro Areas Outpacing Countrywide Growth Growth, 2010-2011 (%) 15- Metro Region Income 14- O Nation Although developing regions boasted the strongest income growth from 2010 to 2011, U.S. cities are taking the lead in outpacing their country when it comes to this metric. 13 12 11.6 11 7.8 8.2 7.0 5-5 5.1 5- 4.8 3.9 3.3 3-3 4.8 4. 2.6 2.6 3.1 0.9 0.9 0.9 0.9 0.9 0.9 Houston Shenyang Riyadh Buffalo Dallas Rochester Jeddah Stuttgart Detroit New York Growth, 2010-2011 (%) 15 Employment A city-to-country employment growth comparison reveals that the top "out-pacers" are spread out around the globe. Metro Region 14. Ở Nation 13- 12 11 10. 8. 6.3 5.8 5.5 4-9 5. 4.3 3.8 3.6 4.7 2.5 2.4 2.2 2.4 2.4 2.4 2.3 1.9 1.7 0.9 0.9 0.6 Shanghai Hangzhou Mumbai Shenzhen Monterrey Riyadh Toulouse Houston Dallas Casablanca *: credit sesame Source BY: The Brookings Institute Global MetroMonitor www.creditsesame.com Percent Growth Percent Growth

Taking the Gloom Out of the Globe

shared by rmmojado on Mar 23
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Economically speaking, it's all doom and gloom in the world as the debt crisis reaches near pandemic proportions. Thankfully, there are some bright spots, those cities that are bouncing back and shini...

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