Between now and 2025, 60% of the world's GDP growth will happen in 600 cities, according to a report from McKinsey & Company.
Companies looking for growth markets will face real challenges positioning themselves to take advantage of the new growth markets. McKinsey reports that almost 40% of the growth will take place in 400 mid-sized urban areas in emerging markets, but many Western companies have never even heard of these cities.
"That’s more growth than the combined total of all developed economies plus the emerging markets’ megacities (those with populations of more than ten million, such as Mumbai, São Paulo, and Shanghai), which together have been the historic focus of most multinationals," wrote Richard Dobbs, Jaana Remes, and Sven Smit in their McKinsey Global Institute report.
to Daily News