To put this into context, just ten years ago the aggregate GDP of European and North American cities was twice the size of Asian cities. Mr Britton added: “The aggregate GDP of Asian cities will overtake the sum of those located in Europe and North America in just over a decade. In the Economy function, scores for all indicators in both. However by 2035, Oxford Economics predicts these cities will be home to almost half a billion extra people, while the value of economic activity will rise by an extra $32trillion, with Asian cities at the forefront of this shift. Although London maintained its 1 position, the city saw its score fall for the second year running. The firm says that the wealthiest 780 global cities currently produce almost 60 per cent of all world economic activity – $45trillion – and house 35 per cent of the global population (2.6 billion people). London and New York entered a new era of development in the early 1980s, with a period of growth continuing despite some fluctuations continued at least up. ![]() ![]() ![]() “Many of today’s emerging market cities, particularly in Asia, will continue to progress along the development path and the balance of urban economic power will shift further east as a result.” Mark Britton, Associate Director of Oxford Economics, said: “The economic landscape is evolving, with urban centres at the forefront of change.
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