Bengaluru most dynamic city in the world, Hyderabad ranks 5th: WEF report
India's IT capital Bengaluru has clinched the top spot in the world�s most dynamic cities list released by the City Momentum Index
India's IT capital Bengaluru has clinched the top spot in the world’s most dynamic cities list released by the City Momentum Index, drawn up by a professional services and investment management firm JLL.
Closely competing in the world's top ten dynamic cities is Hyderabad, at spot 5, ahead of London, Austin and Boston.
India snatched the lead from China as home to some of the world’s fastest-changing cities, taking six of the top 30 positions, compared to China’s five.
National capital Delhi has also figurred in the top 30 cities, however smog seems to have bogged down the city’s reputation, finding its place at no 23. Beijing at no. 15 has also been hindered by poor environmental scores.
The rankings are based on parameters such as population, technology and R&D, connectivity, output and corporate activity, education, and real estate investment. These are rankings released by real estate consultancy firm James Lang Laselle at the World Economic Forum in Davos and as the firm rightly says, "They are not what you'd expect."
To the Karnataka government that's been battling for brand Bengaluru on different fronts, it has come as a pleasant surprise. JLL says in its report that these cities "integrated change and technology into their DNA."
Pune, Chennai and Mumbai are other cities in the country to make it to the top 30, in that order. Among the top 30 are also New York, San Francisco, Melbourne, Los Angeles and Stockholm.
“What has become apparent is Hyderabad and Bengaluru are now becoming more tightly networked and are outperforming their national economies. The most successful cities seek to sustain momentum and innovation by cultivating their research and educational capabilities, and by investing in infrastructure,’ disclosed the survey.
Over 42 variables from the city were examined. Forty per cent weightage is given to socio-economic factors — GDP, population, air passengers, corporate headquarters and foreign direct investment.