In order to stay competitive in the economic landscape of today’s world, cities have to keep innovating and growing, constantly adjusting to changing circumstances. Bengaluru is one of those cities. It seems willing to completely redesign itself to survive. Currently, it is the world’s fastest growing city, outpacing established global IT capitols like Silicon Valley or London.
All kinds of different variables are tracked for the cities, such as socio-economic factors, gross domestic product, air quality, foreign direct investment, real estate momentum, rents and investments, and access to education. The index considers 134 established business hubs to determine what urban economies are most likely to embrace rapid change.
In this year’s annual assessment, India came to the front of the ranks. It has taken over from China as the home of the world’s most dynamic cities. It houses six of the world’s most constantly changing cities, whereas China only has five.
Over 40% of India’s IT industry is located in Bengaluru in the presence of international IT giants, along with the highest number of high tech start-ups of any Indian city. This is currently contributing to entrepreneurial growth.
International giants such as Amazon, Apple, and Salesforce have set up in Bengaluru, which was already housing established domestic firms such as Infosys, and other start-ups such as the on-demand grocer Big Basket.