Research Briefing | Oct 11, 2021

APAC | Indian cities will lead APAC’s city GDP growth rankings in 2022

Asia Pacific Cities and Regions Outlook September 2021

Across APAC, many cities have similar stories to tell—of 2021 economic growth being frustrated by the reimposition of lockdowns, and of recovery therefore being stretched-out well into 2022.

What you will learn:

  • In terms of overall rankings, the fastest growing major cities in 2021 are almost all Chinese or Indian. For 2022 the picture shifts: Indian cities share the leader board with south east Asian cities. Among advanced economy cities we forecast that Melbourne stands out in 2022.
  • A matter of growing concern has been an emerging slowdown in international trade across the region, reflecting supply shortages and bottlenecks, not least shipping capacity. However, we remain optimistic that constraints will be overcome. 
  • Shenzhen is easily the region’s most manufacturing-intensive major city, and we forecast it sees rapid manufacturing growth in 2022, although just pipped by Chengdu, and behind several Indian cities, led by Bengaluru.

{% video_player “embed_player” overrideable=False, type=’scriptV4′, hide_playlist=True, viral_sharing=False, embed_button=False, autoplay=False, hidden_controls=False, loop=False, muted=False, full_width=False, width=’1920′, height=’1080′, player_id=’57209952119′, style=” %}

Back to Resource Hub

Related Services

Post

Latin America Key Themes 2024 – Slower growth, but it’s not all bad news

Growth in most LatAm economies will be below consensus. Economic momentum has surprised to the upside through most of 2023, but the full effects of record global and domestic monetary tightening are yet to be seen.

Find Out More

Post

Easing financial conditions offer CRE some respite

Our measure of financial conditions has become less restrictive in the US and started to loosen in the eurozone and the UK, reflecting investors' expectations that interest rates have peaked. This should aid the outlook for commercial real estate (CRE) on the margins, although the scale of past rate hikes, sluggish economies, and structural headwinds mean the sector still confronts challenging fundamentals.

Find Out More