US | The big West Coast tech metros will continue to thrive
Many Pacific, South West & Mountain area metros suffered minimal losses in 2020. We expect them to see healthy growth over the next five years. The big three tech metros—San Francisco, San Jose, and Seattle—all look strong.
What you will learn from this report:
- Many Pacific, South West & Mountain area metros suffered minimal losses in 2020 and we expect them to see healthy growth over the next five years.
- Much of the growth through 2019 was concentrated in the big three tech metros—San Francisco, San Jose, and Seattle—where the information sector contributed 44% of total GDP growth.
- The characteristics of the cities that saw the highest growth vary somewhat. Many have a burgeoning tech sector and a large university feeding the workforce. But there are numerous exceptions.
Slowdown in 2023, except for Chinese cities
Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.Find Out More
European cities face a tough winter as recession spreads
Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.Find Out More