- Hyderabad has edged out 129 cities in the world to emerge as the world’s dynamic city.
- This result is of the survey carried out in the 7th edition of the City Momentum Index by JLL.
- Kolkata and Mumbai bagged their positions in Top 20.
The Technology Hub of India has emerged as the most dynamic city in the world. Hyderabad has edged out 129 cities.
The city has pushed Bengaluru to the second spot. Chennai is at fifth and Delhi bags the Sixth spot.
Hyderabad and Bengaluru: Socio-economic momentum
While Hyderabad and Bengaluru are two cities known for its socio-economic momentum. A more active estate market helped elevate Hyderabad to first spot in the overall ranking.
Hyderabad has the highest office net absorption in 2019 in the world. It is also the best performing cities for prime office rental growth.
While all seven major Indian cities feature in the year’s Global 20, cities in the Southern part of the Indian subcontinent. Especially Hyderabad, Bengaluru and Chennai are racing ahead of their northern counterparts.
“Their expansion in tech industries and start-up cultures make them magnet for young and ambitious talent from across the country. Because Bengaluru having one of the world’s largest concentrations of ‘engine’ room population. Especially the most dynamic and productive age,” states the report.
Kolkata and Mumbai made it to the top 20 and stood at 16th and 20th positions. In spite of the economic slowdown, India is at the top of the 2020 Index. As seven Indian cities have made it to Top 20.
Telangana’s Minister of Information Technology and Industry K.T. Rama Rao said he was thrilled to know that Hyderabad not only had topped the list but was also competing with cities like Shenzhen and Shanghai.
The minister stated that 50% weightage from socio-economic indicators beside the remaining 50% from commercial and real estate was also heartening.
KTR said that when Telangana was declared as a separate state, nobody knew what will happen to Hyderabad. But it paved its way in the list of Top 20 in 2015 and elevated to the fifth position a year later.
In 2017, it bagged the third spot and in 2018 topped the list but was on the second spot in 2019.
The JLL city Momentum Index identifies a number of key growth drivers, involving talent attraction, the expansion of innovation hubs and better urban planning, that cities can employ to meet challenges faced by rapid momentum.