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Monitoring the Top 300 Global Cities
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Launched in Los Angeles in March 2012, the Global Cities Initiative is a $10 million, five-year project of Brookings and JPMorgan Chase aimed at helping the leaders of metropolitan America strengthen their regional economies by becoming more competitive in the global marketplace. GCI is built on the concept that the global economy is a network of metropolitan economies which are home to most of the world’s population, production, finance, and sources of innovation.
In most countries around the globe, metropolitan areas generate the majority of economic activity. Metropolitan areas are regional economies defined by cities and their surrounding, economically integrated areas. For example, the largest 100 metropolitan areas in the united states produce three-quarters of the nation’s gross domestic product. In other countries with less urban diversity, one or two metropolitan areas generate most of the national product. The Lima metropolitan area, for instance, accounts for 53 percent of Peru’s economy, while housing only 30 percent of the country’s population.
An analysis of gdp per capita and employment changes from 2011 to 2012 for the largest 300 metropolitan economies worldwide, which account for nearly one-half (48 percent) of global output but contain only 19 percent of world population, shows that:
➤ Three-quarters of the fastest-growing metropolitan economies in 2012 were located in developing Asia, Latin America, and the Middle east and Africa. By contrast, almost 90 percent of the slowest-growing metro economies were in western europe and north america. These recent trends reflect the accelerating shift of economic growth from developed metro areas in the global west towards developing metropolitan areas in the global south and east.
➤ Compared to their countries, more than half of metro areas outperformed on employment growth in 2012, but only 40 percent achieved faster gDP per capita growth. Fifty-six (56) metro areas were pockets of growth in their countries, with both gdp per capita and employment expanding at a faster pace than national averages.
➤ Almost three-quarters of the 300 metro areas had higher levels of employment and/or gDP per capita in 2012 than in 2007. Most metro areas in the developing asia- pacific and latin america regions suffered no recession in the last five years or fully recovered to pre-recession levels, while only five north american metro areas managed to recover in both employment and gdp per capita. About 46 percent of metro areas, mostly in north america and asia-pacific, achieved higher employment and/or gdp per capita growth rates in 2011-12 than before the worldwide downturn.
See more and subscribe to NextBigFuture at 2013-03-17 10:15:35 Source: http://nextbigfuture.com/2013/03/monitoring-top-300-global-cities.html
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