Istanbul. Turkey. Rated No 1. Despite getting walloped by the recession, Istanbul has enjoyed the highest employment growth of any major city in the world in the last two years. Although the city has grown at a breakneck pace through the end of 2009 and 2010, economists point out that the export-dependent trading center experiences both high highs and low lows.
¨Grading each metropolis by the growth of its income and employment, the Brookings Metropolitan Policy Program found that the world's fastest recovering cities are overwhelmingly in three key areas: China and India, Southeast Asian islands, and Latin America. Only three cities from what economists consider the developed world appeared on the list: Montreal, Austin and Melbourne. There are no European cities in the top 30. There are no African cities outside Egypt in the top 50.
"We were especially interested in the emergence of Latin American capitals, so we took a close look at Lima, Peru [number 5]," said Alan Berube, research director at the Metropolitan Policy Program, who wrote the report with LSE Cities. "It has a big commodities sector that not only sustained it through the recession but also propelled its growth thanks to huge demand out of China and India. Like a lot of other Latin American capital cities, it was also a safe haven for capital during the global economic crisis. That fueled investment and income during the crisis and continues to do so now."
When you look closer at the report, more trends emerge. Port cities with large trade sectors dominate, due to their ability to put products in the hands of the world's healthier economies. China, India and Brazil -- three members of the so-called BRIC group (R is for Russia, which had no cities in the top 30) -- account for 13 out of the 30 cities, and fully half of the list if you count Taipei and Hong Kong.¨
From The Atlantic. By Derek Thompson. Keep on reading:
I´m happy to know that Buenos Aires, the beautiful city were I was born is rated No 19!
Buenos Aires, Argentina. Downloaded from the cited article.
¨Healthy demand for the city's manufacturing and agricultural products have helped Argentina's capital thrive while the developed world flirts with Argentina's erstwhile foe: debt default. It helps to have Brazil, one of the fastest growing large countries in the world, as a neighbor and key trading partner.¨
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