According to Derek Thompson’s article for The Atlantic, the Brookings Institute recently published a ranking of the world’s 200 largest metropolitan economies. The Global MetroMonitor division of the Brookings Institute, published the report on January 2012. In this brief synopsis, he reveals the “10 Fastest-Growing (and Fastest-Declining) Cities in the World”. Among the fastest growing is Santiago, Chile, the only Latin American country in the top 10. The top 10 is primarily populated by Asian countries – China, Turkey and Saudi Arabia all have multiple cities in on the list. Conversly, the tail end of the list is dominated by Western European countries most affected by the economic downturn, with just two cities from the US – Sacramento, California and Richmond, Virginia.
The survey primarily focuses on their economic development comparing income and job growth, to say nothing of the cultural, societal, and political circumstances which may or may not be contributing the dynamism of each city’s economy. Thompson points out, two of the fastest growing cities in the world, Izmir, Turkey and Santiago, Chile are also among the poorest. Developing countries have the most to gain as they join the global economy but it may still be sometime before the economic growth balances a comfortable standard of living. Watch the interview with Alan Berube from MetroMonitor.
With all of that in mind, follow us after the break for a look at the list.
The top 10 have a wide variety of architecture along with the flourishing economies. Click the cities to see examples of cultural developments.
While North American cities are scattered among 100s in the list, Western European cities dominate the last 10 spots. And while the building industry usually suffers under recessions and declining economies, these cities still have fine examples of creative and cultural work, whether built or theoretical projects. Click the cities for examples.
In regards to The Brookings Institute’s report, the Global MetroMonitor singled out Santiago, Chile to report on its unique position in the global economy. Santiago, Chile is a great example of a city reborn out of a crisis. According to an article in the Santiago Times by Juan Francisco Veloso Olguin, which reported the city’s standing from The Global Metro Monitor, the reason that Santiago made it among the top 10 was its 2010 economic stimulus generated by a magnitude-8.8 earthquake that destroyed 200,000 homes. The earthquake was estimated at 30 billion USD which boosted construction and infrastructure investments and increased consumption spending by its citizens. The dramatic economic increased occurred in 2011, a year later, when the city’s economy grew by 6.3 percent.
With the economy booming, income and employment rates followed. The transport, tourism and trade industry have also been developing. Predictions for Santiago’s future are optimistic, as the city hopes to continue improving the standard of living with basic services and quality of life concerns. The report warns, however, that Chile is heavily reliant on it’s top export of copper and any major changes in the price or demand may have severe repercussions for its economy.
Cultural developments, such as the Miele Gallery by Gonzalo Mardones Viviani and the Memory Museum by Estudio America, and innovative concepts, such as the Wall House by FAR frohn&rojas, are among the projects emerging out of Santiago, Chile today.
Original Articles via The Atlantic by Derek Thompson, “The 10 Fastest-Growing (and Fastest-Declining) Cities in the World” and Santiago Times by Juan Francisco Veloso Oguin, “Santiago ranks as 9th fastest growing city in the world in 2011“.
For a look at US Rankings, view this report by the Brooking Institute’s MetroMonitor.