That talent helps the businesses grow and innovate, which in turn attracts more talent. This in turn attracts more businesses because of the available talent. Urbanisation creates efficiencies, which attract businesses and people, because of the job opportunities. There is a direct correlation between cities and the creation of wealth. If you compare the wealth of countries in Africa with their urbanisation levels, it is very clear that higher levels of urbanisation result in higher levels of economic growth. the urbanisation rates) are 41.4%, 44.5% and 13% respectively, according to figures for 2018 from the CIA World Factbook In these countries the percentage of the populations living in urban areas (i.e. In each of these three countries more than 90% of the population live in cities, according to figures for 2018 from the CIA World Factbook.Ĭonversely, three of the poorest countries in the world are the Central African Republic, Democratic Republic of Congo and Burundi. Three of the richest countries in the world (as measured by GDP per capita) are Qatar, Luxembourg and Singapore. Cities are efficient and the economic output that can be derived from cities is much greater than from countries.Ĭities are being transformed by urbanisation, driven by technological innovations and the exchange of new ideas as industries increasingly cluster together.Īnd with 90% of the global population predicted to be living in cities by the end of the century according to research by Oxford University, this is a long-term trend, providing a huge growth opportunity for investors. The global economic focus is shifting from countries to cities.
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