Delhi fastest growing Asian city in 5yrs: Oxford Economics study

The GDP growth forecast for 30 Asian cities predicts that Indian cities are expected to grow most in the region, with Delhi being the fastest growing city in Asia over the next five years .

The capital of India, Delhi, has been ranked as the fastest growing city in Asia, ahead of Chinese cities like Shanghai, Beijing and Shenzhen. The city's economy is expected to be close to 50 percent more in 2021 than by the end of 2016. In addition to Delhi, other Indian cities are also on the list of the most dynamic Asian cities , According to a study by Oxford Economics .

The average annual GDP growth to 2021 has been predicted between six and eight percent for Delhi, Hyderabad, Mumbai, Chennai and Bangalore in India. Among the Chinese cities, Beijing, Guangzhou, Tianjin and Shanghai are the top ranked cities in terms of growth rates. But the overall expansion of China will slow down.

Delhi will surpass nearly two percent the Chinese city of Tianjin, the fastest growing, while the Indian capital is expected to grow at 8.5% per year, compared to the Tianjin growth rate of 6.4%.

The only two cities outside of India and China that are listed are Manila and Ho Chi Minh City.

Other Asian cities with a growth rate of four to six percent are Jakarta and Kuala Lumpur.

Brisbane, Singapore, Bangkok, Hong Kong, Seoul and Taipei are on the list of projected cities to witness a growth of two to four percent.

Some of these cities like Singapore and Hong Kong are already known to be among the most expensive cities in Asia, with high property rates for the sky.

Japanese cities such as Tokyo, Yokohama and Osaka, which are currently facing demographic challenges and a limited number of the working population, are likely to remain at the bottom, Osaka is the last in the ranking, Work decreases.

Author rights: DataLEADS / Asia News Network

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