APAC | Indian cities will lead APAC's city GDP growth rankings in 2022
Across APAC, many cities have similar stories to tell—of 2021 economic growth being frustrated by the reimposition of lockdowns, and of recovery therefore being stretched-out well into 2022.
What you will learn:
In terms of overall rankings, the fastest growing major cities in 2021 are almost all Chinese or Indian. For 2022 the picture shifts: Indian cities share the leader board with south east Asian cities. Among advanced economy cities we forecast that Melbourne stands out in 2022.
A matter of growing concern has been an emerging slowdown in international trade across the region, reflecting supply shortages and bottlenecks, not least shipping capacity. However, we remain optimistic that constraints will be overcome.
Shenzhen is easily the region’s most manufacturing-intensive major city, and we forecast it sees rapid manufacturing growth in 2022, although just pipped by Chengdu, and behind several Indian cities, led by Bengaluru.