By 2025, China will be home to more large companies than either the United States or Europe. It is expected that nearly 50% of the world’s large companies—defined as those with revenue of $1 billion or more—to be headquartered in emerging markets.
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| Image from Hubble telescope |
New emerging cities
Nearly 50% of global GDP growth between 2010 and 2025 will come from 440 cities in emerging markets. 95% of them small and medium-size cities that many may not even have heard of and couldn’t point to on a map;
Nearly 50% of global GDP growth between 2010 and 2025 will come from 440 cities in emerging markets. 95% of them small and medium-size cities that many may not even have heard of and couldn’t point to on a map;
Who has heard of Hsinchu, in northern Taiwan?
Brazil’s Santa Catarina state, halfway between São Paulo and the Uruguayan border?
Or Tianjin, a city that lies around 120 kilometers southeast of Beijing?
In 2010, it is estimated that the GDP of Tianjin was around $130 billion, making it around the same size as Stockholm, the capital of Sweden. By 2025, it is estimated that the GDP of Tianjin will be around $625 billion—approximately that of all of Sweden.
Lagos, economic capital of Nigeria, is predicted to be one of the 10 most populous cities globally. Nigeria's population is set to rocket to 397 million by 2050.
Countries are becoming more urbanized
By 2025, emerging economies will grow 75% faster than developed nations and will account for more than 50% of the world's economy. 440 cities in emerging markets will account for more than 50% global GDP growth and more than 50% of urban population (2.5 billion people) will live in Asian cities. 46 of the top 200 cities in the world will be in China.
And this is going to happen in 6 years from now!
The gravity center of the world will change its coordinates by then.
Source: McKinsey & Company report on new disruptive forces
