Looking to the future of 27 cities at the center of the world economy
Robert MoritzChairman and Senior PartnerPricewaterhouseCoopers LLPKenneth I. ChenaultChairman and CEO American Express Co.Co-chairmanPartnership for New York City Terry J. LundgrenChairman, President and
Chief Executive Ofcer
Macy’s Inc.Co-chairmanPartnership for New York City
In this fth edition of
Cities of Opportunity
,PwC and the Partnership for New York City again examine the current social and economicperformance of the world’s leading cities. Wealso add a future dimension that probes theshape of city economies to come. Together,looking at 2012 results and ahead towardthe possibilities in 2025, we seek to providea realistic framework for thought and action
beginning with 27 of the world’s most signi
-cant cities—on one hand, the engine of themodern global economy and on the other,the heart of much of our shared culture.
It is precisely because of the importance of cities
and the need to deepen knowledge of urban issues that we undertake the study. Theeffort to question and understand where cities
are and where they are headed benets all
of us in a world urbanizing like never before.
This includes the ofcials and policymakers
setting the course, businesses invested in city well-being, and the citizens who build theirlives in thousands of city neighborhoods world- wide, rich or poor, picturesque or prosaic.
Statistics tell some of the story:
Today, our27 cities account for nearly 8 percent of worldgross domestic product (GDP) but only 2.5 percent of the population. By the quarter-century, they will house 19 million moreresidents, produce 13.7 million additional jobs, and generate $3.3 trillion more in GDPif population follows UN projections andeconomic progress remains modest. As growthoccurs, the symbiotic relationship betweenEast and West is likely to continue: Emergingcities will skyrocket in jobs and population,but developed cities will retain the spendingpower, as well as the consumer and corporatedemand, to drive growth. One side will stillneed the other to move ahead.Meantime, our analysis shows that eachcity represents an economic ecosystem in itsown right, built around mutually supportiveeconomic and social strengths as well as anintertwined fabric of jobs—not just the profes-sionals in bright skyscrapers but all those whoturn the lights on every morning from retailersand teachers to nurses and cooks, from crime
ghters to street cleaners. Maintaining healthy
balance is a cornerstone of urban resilience.
Our jobs analysis also reveals surprising patterns,
vulnerabilities, and dependencies,as cities journey toward 2025 with more thana few clouds on the horizon. To come to grips with some of this uncertainty, “what if”scenarios test the future of our cities underdifferent conditions. The clouds hold silverlinings for some cities in terms of greateremployment and wealth. But storms roll in forothers. The differing “what if” scenarios stress
the need for exible thinking simply to deal
with foreseeable changes, not to mentionthe unexpected turns.
To esh out the empirical picture, we spoke
to a broad scope of leaders on issues from thelong range and philosophical to the practicaland immediate. This includes E.O. Wilson, thenaturalist; Bill Bratton, former New York andLos Angeles head of police; Narayana Murthy,founder of Infosys; Andrew Chan and PeterChamley, two leaders of the global engineering
rm Arup, based in Hong Kong and London,
respectively; Wim Elfrink, Cisco’s head of Smart + Connected Communities; and DavidMiller, former Toronto mayor and WorldBank special advisor on urban issues.
All in all, we hope to provide insight
intoan urban world in which all of us are “in ittogether,” making as strong a case for jointthought and action among cities as there isfor self-interest and competition.