Published on : May 10, 2017
Albany, New York, May 10, 2017: The publication offers a detailed assessment on the present and projected trends impacting urbanized areas around the world and the lucrative opportunities that are likely to arise in leading consumer-associated sectors.
This comprehensive report is centered on details that help decode the trajectory major cities are likely to follow on in the coming years. The focus of the study is identifying challenges and opportunities that tend to crop up as a result of large-scale and rapid urbanization. This report offers readers sharp and actionable recommendations based on information pertaining to consumer surveys and assessment, income and demographic income, and the economics of a given city.
Findings of the report show that between 2005 and 2025, the number of people living in some of the major cities will increase by more than 500 million. This will result in significant urban growth and the top 500 cities with the highest growth in GDP will account for 76% of the overall GDP growth during the decade of 2015 to 2025. The study also predicts that several countries in Asia Pacific will continue to witness rapid urbanization in the coming years. Urbanization gives rise to a larger customer base and numerous opportunities, giving the FMCG sector a major boost.
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As global urbanization continues at a rapid pace, more and more cities are likely to drive growth and the total population living in urban localities will amount to 60% by 2025. However, urbanization is much more than just population growth. Productivity is also a significant feature of urbanization and cities that lure in more qualified workers tend to present greater productivity, eventually increasing prices as well as wages. As income levels rise, the demand for financial services and consumer goods also increases.
On a cynical note, however, the efficiency and sustainability of cities come into question with rising urbanization. With expanding ecological footprints, city dwellers end up consuming a lot more than those living in rural areas, eating up a greater portion of the world’s natural resources. And while the growing demand for various products and services may provide a number of businesses immense opportunities, the challenges often outweigh the positives. Nonetheless, the use of smart technologies and the building of smart cities are helping local authorities tackle the issues that arise from large-scale urbanization.
A key observation that research analysts have made is that the most populous cities in the world are likely to change by 2025 and some of the largest cities across the globe will be from the developing world. Recognizing the plethora of opportunities in these cities, foreign brands will end up targeting consumers here.
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