Thursday, January 19, 2017

Wow! Unbelievable! Hyderabad is ranked No.5 in the world!

I am astonished and happy to learn that Hyderabad has been ranked as the fifth most dynamic city in the world. This is according to the City Momentum Index (CMI) - 2017, drawn up by a professional services and investment management firm JLL, operating all over the world from its headquarters in London. JLL is a public company whose leaders are committed to creating value for their clients and shareholders. And this report is prepared by them for the World Economic Forum. According to this report six cities of India are among the top 30 in a list of over 150 cities around the world. Bengaluru is No. 1 city followed by Hyderabad at No. 5 and then it is Pune at No. 13, Chennai at No. 17, Delhi at No. 23 and Mumbai at No. 25. CMI is not a measure of the ‘best’ cities in which to invest. It is intended to identify change and highlight which cities or metropolitan areas may be the best at positioning themselves to compete in today’s ever-changing economic landscape.
Hyderabad’s innovation and technology are said to be the key factors for its high position in the rankings. Major factors that characterize the world’s most dynamic cities, apart from technology and innovation, are the ability of cities to absorb, adapt and leverage. It is reported that over 42 variables from the cities were examined. In this study; forty percent weightage was given to socio-economic factors – GDP, population, air passengers, corporate headquarters and foreign direct investment. And thirty percent weightage was given to commercial real estate momentum, which encompasses changes related to construction, rents and investment etc. Environment, housing and livability are additional factors.
All this information and the result surprise me because on daily basis I see and read of several problems in our twin cities of Hyderabad and Secunderabad. The most prominent being bad roads and chaotic traffic which causes unpredictable delays, tremendous dust and pollution all around us and very poor public conveyance to name a few. Yet we are the fifth most dynamic city in the world ahead of great cities in Europe and USA! And obviously I am astonished and at the same time very happy and proud of my city.

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