Ho Chi Minh City in Vietnam is the world’s second most dynamic city, according to the Index.
"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," says Jeremy Kelly, JLL Director of Global Research.
Image by : Shutterstock.com
2/9
Silicon Valley (US) ranks at No. 3 in the list.
Technology continues to be a major driver of momentum in the world's 30 fastest-changing cities, according to JLL. “These cities provide fertile environments for innovation and successfully integrate into global networks, often outperforming their national economies,” it says.
Image by : Shutterstock.com
3/9
Shanghai (China) is the world’s fourth most dynamic city. According to JLL, “A shift into high-value activities helped drive momentum in 'Agile High-Value Emerging Cities.' Apart from Shanghai, such other cities include Beijing (15), and technology hubs such as India's Bangalore and Hyderabad (5) and China's Shenzhen (22).
Image by : Shutterstock.com
4/9
Ranked 5, Hyderabad (India) is among the 'Agile High-Value Emerging Cities' that made it to the list. JLL describes ‘Agile High-Value Emerging Cities' as high-growth cities in emerging economies that are successfully transitioning to higher-value manufacturing and service-based activities.
Other Indian cities - Pune (13), Chennai (18), Delhi (23) and Mumbai (25) - are also part of the list.
Image by : Shutterstock.com
5/9
London (Rank 6) is one of the 'Established World Cities', which integrate technology into their existing economies and leverage their established strengths to draw top talent. Other cities include New York (14), Paris (17) and Los Angeles (27).
“While London has fallen from the top spot (a position it held for the past two years), it has remained remarkably resilient following the Brexit vote, retaining a top 10 ranking,” says JLL
Image by : Shutterstock.com
6/9
Austin (USA) is ranked seventh. The 134 cities covered by the CMI were assessed using 42 variables including recent and projected changes in city gross domestic product, population, corporate headquarter presence, commercial real estate construction and rents. Other factors included education, innovation and environment.
Image by : Shutterstock.com
7/9
Cities such as Hanoi (Vietnam), ranked 8, are characterised by low costs, rapid consumer market expansion and high levels of foreign direct investment (FDI). Identified as 'High Potential Cities,' these exhibit “among the most robust demographic and economic growth in the CMI. They also drive significant levels of FDI and commercial real estate construction,” JLL says. Some of the other cities in this category include Ho Chi Minh City (2) and Hanoi (8) in Vietnam, as well as East African technology hub Nairobi (10) in Kenya.
Image by : Shutterstock.com
8/9
Massachusetts’ capital Boston (USA), is ranked at No 9.
“The CMI highlights that, despite various political upheavals and ongoing economic uncertainties, many cities continue to show impressive dynamism. Keys to their success are the agility and openness that enable them to adapt quickly to each new wave of global change," says Jeremy Kelly, JLL Director of Global Research
Image by : Shutterstock.com
9/9
Nairobi (Kenya) takes the tenth spot in JLL’s fourth annual City Momentum Index (CMI), among the thirty positions ranked by the study