Manila has been ranked Top 8 among the World’s Most Dynamic Cities, its best-ever showing since it first landed on the JLL Global Research list in 2014.
The City Momentum Index 2020 “Creating a Resilient and Responsible City” report released on January 20 covered 130 major established and emerging business hubs as JLL Global Research sought to identify the most resilient and responsible city from a real estate perspective.
JLL Global Research notes that Manila’s 8th rank is its highest ever position. The Index described how Manila’s “advantageous demographics, a robust domestic economy, and a skilled talent base are supporting a dynamic real estate market.”
Manila’s hosting of the Business Processing Outsourcing (BPO) sector is “driving office net absorption, as the sector moves into higher-value activities such as animation, gaming and healthcare.”
The Index further adds how the city is addressing the infrastructure deficit amidst rapid urbanisation: “Metro Manila is undergoing a major infrastructure push to alleviate chronic congestion and unbalanced development by building out its metro and rail networks.”
The Index section on Economic Growth Hierarchy cites Oxford Economics in its forecast of GDP Change up 6-7% for Manila, along with the cities of Xi’an, Chengdu, Shenzhen, Delhi, Guangzhou, Chongqing, Beijing, Riyadh, Mumbai, and Shanghai.
The capital city of the Philippines first joined JLL’s City Momentum Index in 2014 at 20th spot. It failed to make the list in 2015-2016 and then reappeared in 2017 in 12th place. In 2018, it went down to 18th spot.
In 2019, Manila was again ranked at 12th. The city moved up 4 notches to top 8 city in the 2020 edition of JLL’s latest City Momentum Index which covers 130 major established and emerging markets to identify the world’s most dynamic cities.
The 130 cities covered by the City Momentum Index have been shortlisted from a combination of a weighted index of population, GDP, corporate presence, air connectivity, real estate investment activity and commercial real estate stock. Each city is defined as its metropolitan region as delineated by national statistical offices or by international organisations (e.g. United Nations).
In 2019, Manila soared 48 notches in the Top 500 Most Innovative Cities in the World.
SEND CONGRATULATIONS in the comments below to the people of Manila for this new milestone ranking among the World’s Best Cities.
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