04.25.19
Megacities are a mega trend as the global population continues to shift toward urban areas. According to a new study by Euromonitor International, in 1900 only 15% of the globe’s population resided in cities. In 2008, more than half of the world’s population living in urbanized conurbations; i.e., cities with at least 10 million inhabitants.
And developing countries are leading the charge. In 2017, 26 of the 33 megacities were in developing countries and will continue to do so for the forseeable future. Between 2017 and 2030, six cities will reach megacity status, and five of them are in emerging markets. They are: Baghdad, Bogota, Chennai, Chicago, Dar es Salaam and Luanda.
Some key findings from the Euromonitor report:
• In 2017, Asia Pacific accounted for the largest number of megacities, with 19 of the 33 (58%). China and India are the regional and global leaders, with six and four megacities each in 2017, respectively.
• Jakarta is due to overtake Tokyo in 2030 to become the largest city in terms of population populous city in 2030 size. Rapid population growth in Jakarta, coupled with depopulation in Tokyo, will make the Indonesian capital the largest by population size in 2030, with 35.6 million.
• African megacities will lead population growth, reflecting its position as the last major continent to undergo urbanisation. It will account for the largest absolute rise in megacities over 2017–2030, adding Dar es Salaam and Luanda to the region’s current megacities of Cairo and Lagos.
• In spite of the surging populations and economic progress in emerging countries, economic lead developed megacities will still maintain their economic and consumer affluence advantage in 2030. For instance, disposable income per household will still be greater in all developed megacities in 2030 than in emerging megacities.
• Aging is expected to have an impact on many key megacities in East Asia over 2017–2030. Growth in the share of over 65 year-olds will be particularly apparent in Seoul, and Chinese megacities such as Beijing and Shanghai.
And developing countries are leading the charge. In 2017, 26 of the 33 megacities were in developing countries and will continue to do so for the forseeable future. Between 2017 and 2030, six cities will reach megacity status, and five of them are in emerging markets. They are: Baghdad, Bogota, Chennai, Chicago, Dar es Salaam and Luanda.
Why the move toward megacities? According to Euromonitor International, they offer wealth, social diversity, economic growth and innovation. They attract the ambitious in search of jobs, business ventures and education. But at the same time, megacities present numerous challenges to urban planners, as they can suffer from overcrowding, traffic congestion, air pollution and high income inequality.
Some key findings from the Euromonitor report:
• In 2017, Asia Pacific accounted for the largest number of megacities, with 19 of the 33 (58%). China and India are the regional and global leaders, with six and four megacities each in 2017, respectively.
• Jakarta is due to overtake Tokyo in 2030 to become the largest city in terms of population populous city in 2030 size. Rapid population growth in Jakarta, coupled with depopulation in Tokyo, will make the Indonesian capital the largest by population size in 2030, with 35.6 million.
• African megacities will lead population growth, reflecting its position as the last major continent to undergo urbanisation. It will account for the largest absolute rise in megacities over 2017–2030, adding Dar es Salaam and Luanda to the region’s current megacities of Cairo and Lagos.
• In spite of the surging populations and economic progress in emerging countries, economic lead developed megacities will still maintain their economic and consumer affluence advantage in 2030. For instance, disposable income per household will still be greater in all developed megacities in 2030 than in emerging megacities.
• Aging is expected to have an impact on many key megacities in East Asia over 2017–2030. Growth in the share of over 65 year-olds will be particularly apparent in Seoul, and Chinese megacities such as Beijing and Shanghai.