In the global ranking of 300 best performing and fastest growing metropolitan cities, national capital Delhi has been ranked sixth, according to Brookings’ study Global Metro Monitor 2018. Delhi’s per capita GDP surged by 6.6 percent between 2014-16. Meanwhile, Hyderabad has been ranked 14th on the list with Mumbai on 23rd place in the ranking. The large metro areas in China and Emerging Asia-Pacific dominate the list of fastest growing economies from 2014 to 2016. China’s capital city Beijing stands at 5th place.
“Emerging economies accounted for 80 percent of the 60 best-performing metropolitan areas. Large metro areas in China and Emerging Asia-Pacific overwhelmingly dominate the upper ranks. Not all emerging market metro areas performed well, however. The bottom quintile of metro areas—those that exhibited slower growth—included many Latin American metro areas, especially Brazil’s big cities,” report said.
The study lso said that India’s capital generated jobs for 6.21 lakh people representing a growth of 4.7 percent.
Dublin, the capital city of Ireland, leads the chart with per capita GDP growth of 21.2 percent during the given period. Dublin’s per capita income surged by $37.9 thousand in the two year period in Dublin. Among the top 30 metro areas, 17 Chinese cities topped the charts.
“Urban economies in advanced countries had more mixed performance. At or near the top of the league tables were Dublin, San Jose, and San Francisco. Oddities in the statistical accounting of gross domestic product partly account for Dublin’s nearly unheard of GDP per capita growth. Many global companies legally reside in Dublin for tax purposes, but do not actually produce there. Some of these companies increased the amount of contract manufacturing they conducted abroad, but statistically that is reflected in the local and national accounting of GDP as an export,” study said.