Every year, millions of people across EM move to the cities in search of a better standard of living. While the likes of Jakarta, Delhi and Manila are already among the most densely populated cities in the world, urbanisation is a trend that is expected to continue for years to come. In fact, China alone sees around 14 million people moving to the cities every year1, which is roughly equivalent to the population of two Londons.
China sees a sharp increase in urbanisation compared to other leading economies Urbanisation rate of the 10 largest economies by gross domestic product
Urbanisation rate is calculated using the urban population figure as a percentage of the total population, with data updated to 19 March 2021. Gross domestic product is as at 31 December 2020. Source: World Bank
This is an unprecedented rate of urbanisation and it creates immense opportunities for companies looking to tap into the growing city population across EM as well as the higher demand for products and services associated with the change in lifestyles.
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1. As at 30 June 2020. Forecasts shown for illustrative purposes only. Source: Oxford Economics
