In the past few days, Bengaluru has been in the news for all the wrong reasons. Everyone knows why. But, rejoice all Bengalurians, you guys are residing in the most dynamic city in the world. Yes, you read that right!
According to an estimate based on the City Momentum Index(CMI), Bengaluru tops the list after beating Silicon Valley and Ho Chi Minh City.
The CMI gives rankings to the cities across the globe by the pace of change of the city’s monetary and real estate marketplace and the city’s potential to maintain this dynamism.
As a matter of fact, there are five more other metropolitan cities of India made it in the Top 30 list, which are as follows: Hyderabad (5th), Pune (13th), Chennai (17th), Delhi (23rd), Mumbai (25th).
The indicator inspects 42 variables in all of the 134 cities or metropolitan areas. Those parameters can be classified into three parts: two that imitate power for short-term changes and one used to decide longer-term financial sustainability.
The rankings have been released by real estate consultancy firm James Lang Laselle (JLL) at the World Economic Forum in Davos. Before releasing the list the firm rightly said, “They are not what you’d expect”. Parameters such as technology and R&D, population, connectivity,education, real estate investment, output and corporate activities have been taken as the basis of the formulation of the list.
The primary set of aspects, which is responsible for 40% of the general ranking, includes socio-economic parameters – population, corporate headquarters, GDP, air passengers, and foreign direct investment.
The next parameter accounting for 30% is based on centres on profitable real estate impetus, which includes changes related to rents, construction, investment and lucidity in the office, retail and hotel sector.
The third set includes novelty capacity and technical prowess, access to tutoring and ecological quality. It accounts for 30% of the directory. Without attentiveness on education and the surroundings, with no strong economies and business practices that promote start-ups and patent applications, devoid of what we call “future-proofing,” these cities can really stand apart.
Here’s the fun fact: India also beats China in the total number of cities featured on the list. Woah! How awesome is that? 😉