Delhi Ranked 6th In The List Of Fastest Growing, Best Performing Metro Cities In The World: Study
September 28th, 2018 / 4:10 PM
Image Credits: NDTV
According to a recent report released by Brookings’s study titled the Global Metro Monitor 2018, Delhi has been ranked 6th among the world’s fastest-growing metro cities. The study listed the 300 largest metropolitan economies of the world and considered their economic performance between 2014 and 2016 at Purchasing Power Parity (PPP) rates reported Business Today. The top five cities ranked before Delhi are Dublin (Ireland), San Jose (US), Chengdu (China), San Francisco (US), and Beijing (China). “In 2016, the 300 largest metropolitan areas accounted for a little under one-fourth of the world’s workforce but generated nearly one-half of the world’s production,” the study said. Among the nine Indian metro cities which were listed in the study, Delhi was by far the best performer.
According to The Times of India, Delhi has generated over 6.2 lakhs jobs during 2014-2016, which represents a growth of 4.7 per cent while its per capita income was raised by 6.6% and added $500(PPP) to the per capita income. On the other hand, Dublin has witnessed a per capita GDP growth of 21.2 per cent over the two year period. Although Mumbai is known as the financial capital of the country, these figures showed that Delhi is doing a great job. A large number of people come to Delhi from all over India looking for job opportunities, and not only from India but adjoining countries like Nepal and Bangladesh. Although it’s doing great in the economic front but is lagging behind in other aspects like quality of life and happiness. Delhi has been ranked 6th in the top ten polluted cities of India.
Other Indian cities made to the list
The other Indian metropolitan cities which made to the top 100 list are Hyderabad (14), Surat (19), Mumbai (23), Bengaluru (46), Kolkata (59), Ahmedabad (86), and Pune (88). As per the report, the strong performers in India included Delhi and Hyderabad. While Delhi achieved the largest employment increase in the region, Hyderabad showed the fastest GDP per capita growth rate of 8.7 per cent. Out of the top 10 cities on the list, five are in China.
Increase in Asian fastest growing metropolitan cities
Talking about the increase of fastest-growing metropolitan areas in Asia the report has said, “Metropolitan areas within the top 300 in China (55 new entrants), the Middle East and Africa (10), and the rest of the emerging Asia Pacific (8) have all increased, whereas metro areas in North America, Western Europe and Advanced Asia-Pacific have lost 64 slots in total.”
It also said that the emerging economies accounted for 80% of the 60 best-performing metropolitan areas. Large metro areas in China and Emerging Asia-Pacific dominate the upper positions. However, not all emerging market metro areas performed well. The bottom quintile of metro areas which showed slower growth rates included many Latin American metro areas.
Written by : Santosh Kumari (Intern)
Edited by : Sromona Bhattacharyya