Why Global Cities?

Over half the world’s population now live in cities and by 2050 the UN predicts that figure will be two thirds. If globalisation presents a problem to be solved then cities present an answer. Cities are driving the global economy; they are the junction boxes of economic exchange. As people, capital and culture become increasingly mobile, every city is competing to ensure it is positioned to capture value from global shifts. Peter Hall has referred to cities as ‘unravelling points’, where “people meet, people talk, people listen to each other’s music and each other’s words, dance’ each other’s dances, take in each other’s thoughts.” Those unravelling points are ever more global in nature; filled with ever more globally cosmopolitan populations.

Global Trends

We’ve begun our own analysis by mapping five global trends which are relevant to business, policy-makers, consumers, and citizens.The far reaching consequences of these trends will determine whether the decisions you make today will deliver success in five, ten and fifteen years from now.

We are living through a period of unparalleled change.
We are experiencing a process of increasing connectivity and interdependence of world markets.
This process has sped up dramatically in the last two decades as technological advances make it easier for people to travel, communicate, and do business internationally.
In general, as economies become more connected to each other, they have created opportunity but also intensified competition. Cities are at the heart of this process; both being shaped by and shaping it.
50% of the world’s population now live in cities, a figure projected to increase to 75% by 2050
Cities are the junction boxes of economic, political and cultural exchange, they are the places through which capital, talent, and ideas are generated.
Just 100 cities currently account for 30% of the world’s economy, and almost all its innovation.
Cities are a primary characteristic of our increased economic interdependency:
A feature of globalisation but they are also a mechanism through which the challenges of globalisation will be confronted, understood and managed.