BENGALURU: Bringing another feather in the cap of IT and start-up hub Bengaluru, it has been rated as the world's most dynamic city in the annual JLL City Momentum Index (CMI). By doing so, it outranked US cities such as Silicon City (3), Austin (7) and Boston (9). Apart from Bengaluru, Hyderabad (5), Pune (13), Chennai (17), Mumbai (25) and Delhi (23) feature in the top 30 most dynamic cities list.
The ratings were released during the ongoing World Economic Forum meet at Davos, recently. The brand name of Bengaluru was hit; it can be recalled, due to alleged mass molestation incident recently. According to a release by JLL, the index "tracks the speed of change of a city's economy and commercial real estate market". It covers 134 major business hubs and "identifies cities that have the potential to maintain the greatest dynamism over the short and long term."
Apart from India, cities from China, Vietnam and USA dominate the list of countries with most dynamic cities.
"CMI highlights that, despite various political upheavals and ongoing economic uncertainties, many cities continue to show impressive dynamism. Keys to their success are the agility and openness that enable them to adapt quickly to each new wave of global change," said Jeremy Kelly, JLL Director of Global Research.
CMI Highlights
Asia Pacific cities comprise half of the top 30 fastest-changing cities. India has taken over China as home to some of the world's most dynamic cities.
The 134 cities covered by the CMI were assessed using 42 variables including recent and projected changes in city gross domestic product, population, corporate headquarter presence, commercial real estate construction and rents. Other factors included education, innovation and environment.