Emerging Markets Business Summer 2016 | Page 21

EMB CITIES ON THE MOVE Source: Urban Age/LSE Cities Forget the urban centers of North America and Europe, most population growth in the coming decades will occur in the cities and slums of Africa and Asia, with China, India and Nigeria accounting for 40 percent of global growth over the next 10 years. Interestingly, the bulk of this future urbanization will not take place in national capitals, but in small and medium-sized cities in low-and middle-income locations. According to Robert Muggah, Research Director at the Brazilian-based think tank, the Igarapé Institute, the result is that “the future geography of security and development will be marked by cities you’ve never heard of.” 3% of the world’s population lived in cities in the early 1800s as compared to over 50% today. 4,000 There are currently over cities with more than 100,000 inhabitants around the world, home to over four billion people. 600 Just cities account for more than two thirds of global gross domestic product. 34 megacities are home to one-fifth of humanity. The global slum population will expand from one billion to people by 2040. two billion The information used in this article was sourced from The World Economic Forum in an article from Robert Muggah, Research Director, Igarapé Institute. EMBreview.org  19