Savills examined the  economic strength pillar of its Resilient Cities Index, produced as part of its global research programme Impacts, and forecast it to 2033, to identify high-growth cities with rising wealth and expanding economies. Indian and Chinese cities take five spots in the top 15 each, followed by Vietnam with two, and the Philippines, Bangladesh, and Saudi Arabia with one each.

View Savills top 15 Resilient Cities Growth Hubs here: https://www.savills.com/impacts/market-trends/a-guide-to-the-fastest%e2%80%91developing-cities-on-the-planet.html

Paul Tostevin, director and head of Savills World Research, comments: “In economic terms, cities in India and Bangladesh are set to average GDP growth of 68% between 2023 and 2033, followed by those Southeast Asia, including Vietnam and the Philippines, by 60%. They are also set to see stronger personal wealth growth, due to expanding middle classes, compared to other cities around the world. Future economic performance and population growth alone will not automatically put these cities at the top of our overarching Resilient Cities Index, however, as this also considers ESG, sustainability, improve education and labour force factors, and the stability, transparency and liquidity of their real estate markets, to indicate which are the most resilient locations in the world.”

Simon Smith, head of research & consultancy, Asia Pacific at Savills, adds: “Global city growth looks set to further pivot from west to the east, with these cities set to be centres of innovation and important places for growing and scaling businesses. This will underpin future demand for offices, logistics space, and homes, especially in Southeast Asia which is also benefiting from manufacturing drivers, as the need for more resilient supply chains has intersected with traditionally low-cost Asian land and labour markets becoming more expensive, forcing industries to consider relocating. Rising personal wealth and disposable incomes will also open up further retail and leisure opportunities in many cities.”

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Savills Resilient Cities: Growth Hubs, top 15:

The fastest growing major cities by 2033 based on their economy, population and wealth

• Economy: future strength – city GDP in 2033 and future credit rating
• Economy: growth – % increase in city GDP growth, 2023-2033
• Personal wealth: growth – % increase in city GDP per capita and % increase in number of households earning more than $70,000, 2023-2033
• Population & migration growth – % increase in city population and migration, 2023-2033
• Population: future dependency ratio – ratio of dependents to working age population in 2033 (Population 0-14 + Population 65+ / Population 15-64)

Data is city-metro level from Oxford Economics. Future credit rating is at a country level.  Only cities with a GDP in 2023 of US$50bn or above are included in the analysis. The index identifies cities which are the fastest growing over the next decade, rather than the largest, as the chart showing city GDP in 2033 shows.

Impacts is Savills global thought leadership publication and research programme. In 2024, Impacts is centred around the theme of “Inflection’, looking at the anticipated turning point in global real estate investment markets, and more broadly the future impact of social,environmental, technological, and demographic change (amongst other things) on places and spaces.