PwC predicts growth in emerging cities

04/11/2009 PwC predicts growth in emerging cities

The economies of cities in emerging markets are likely to become more prominent on global gross domestic product rankings in the coming 15 years, PricewaterhouseCoopers (PwC) has predicted.

According to the tax jobs provider, the changing economic landscape means such locations are likely to play a major role in business in the future.

It forecast that Shanghai will climb from 25th to 9th on the listing between 2008 and 2025, giving it the strongest growth rate of any of the cities currently inside the top 30.

And Mumbai, Istanbul. Cairo, Rio de Janeiro and Delhi will also show improvements, the Big Four firm stated.

Economics partner at PwC Thomas Hoehn explained that many developed economies are currently experiencing financial difficulties, while "countries like China and India continue to grow".

"Global economic activity is concentrated in the world's largest cities," he added.

A survey by BDO recently found that the majority (78 per cent) of businesses questioned believe the tax regime in the UK is hampering its recovery from the downturn.

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