Cities are the lifeblood of the global economy. Today, roughly 4.2 billion people live in cities across the world, and this is set to rise to 5.2 billion by 2030 and 6.7 billion by 2050 according to the UN. We believe that if the potential can be maximised, roughly 85 per cent of global growth could be generated in urban areas over the next decade.
Cities bring opportunities: finding the right job, having access to better education or healthcare or even just finding the perfect business partner. But there has always been a cost. Anyone who lives in an urban area can easily describe the issues facing their city when it comes to pollution, congestion, crime, or basic sanitation such as rubbish bin collections.
HSBC Global Research explains the main challenges and opportunities in its report the Future of Cities.