Research Briefing | Dec 20, 2021

Will any cities challenge the traditional business capitals by 2040?

Ipad Frame - Global-Cities-Will-any-cities-challenge-the-traditional-business-capitals-by-2040

Finance and business services is expected to drive growth in global economic activity and employment over the next 20 years. By 2040, there will be 55 million more jobs in this sector across the world’s major 900 cities than there are today. This will largely be driven by cities in Asia, with Indian and Chinese cities alone responsible for 44% of new jobs.

What you will learn:

  • Delhi, Mumbai, Manila, and Shenzhen will experience the largest increase in finance and business employment.
  • But in terms of the size of economic activity, these cities still have a long way to go to catch up with the traditional business capitals of New York, Tokyo, and London.
  • The only cities which can challenge the dominance of New York, Tokyo, and London are the Chinese megacities.
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