Countries around the world need to devolve power to cities and be more open to foreigners if they are to benefit from new patterns of urbanisation, says Razeen Sally, Associate Professor at the National University of Singapore in this World Economic Forum (WEF) video.
Citing the recent WEF report on “The Competitiveness of Cities”, of which Razeen was the lead author, he explains that the coming decades will see the next wave of mass migration to cities, especially in Asia and Africa. Megacities are sprouting while entirely new cities are being created. Cities, with their economies of scale, scope and connectedness, bring people and markets together in a single, dense space. They will be one of the driving engines of growth, poverty reduction and prosperity over the course of this century.
Razeen goes on to argue that whilst cities can benefit from urbanisation, some are struggling to cope with challenges such as large-scale influx of people, or the inability to provide basic services, houses or jobs.
Click here to read the full report, which also identifies six global “megatrends” especially relevant to cities (1) urbanisation, demographics and the emerging middle class; (2) rising inequality; (3) sustainability; (4) technological change; (5) industrial clusters and global value chains; and (6) governance.
For more information on how to book Razeen Sally for an event, please call Alex Hickman on +44 (0) 20 7792 8004.