Ho Chi Minh City is now among the top 100 fastest-growing cities in the world, according to a PricewaterhouseCoopers study published in the latest UK Economic Outlook.
|Ho Chi Minh City is now among the top 100 fastest-growing cities in the world (Photo: T.C.)|
Of the nine new cities entering the top 100 list, three are in India and two each in China and Brazil. The others are Ho Chi Minh and Lagos in Nigeria. All nine are in emerging economies.
Tokyo, New York and Los Angeles are the world's largest cities by economic output but cities in emerging economies are the fastest-growing.
PricewaterhouseCoopers ranked 151 cities according to their economic output in 2005 and made projections for 2020.
It said it believed its research was the first to rank cities according to their gross domestic product and to make projections, by combining United Nations' population data with its own forecasts of per capita income at purchasing power parity.
The 80 emerging market cities accounted for 27 per cent of economic output of all 151 cities in the full PwC list in 2005. By 2020, the projected share of these same 80 cities will rise to 35 per cent of the total.