Top 10 fastest-developing cities globally: Asia dominates, with four Indian cities featured

Nearly 90% of this growth is taking place in Asia and Africa, making it more evident than ever that cities in Asia are presenting an attractive combination of rising wealth, expanding economies, and the possibility for new development and business growth.

Home to 14 of the top 15 growth hubs, Asia’s increased emphasis on tech-driven growth signifies its dominance in the Savills Growth Hub’s fastest-developing cities rankings.

Furthermore, as personal wealth grows significantly throughout Asia, a major proportion of its cities will witness a rising middle class, with countries like Vietnam, India, and the Philippines witnessing a rapid growth in middle-class households earning more than $70,000.

The world’s fastest-developing cities by 2033:

Bengaluru in India leading the list, followed by Ho Chi Minh City, Vietnam; here are the top 10 fastest-developing major cities around the globe by 2033, based on their economy, population and wealth.

Rank	City	Country	Region
1	Bengaluru	India	South Asia
2	Ho Chi Minh City	Vietnam	Southeast Asia
3	Delhi	India	South Asia
4	Hyderabad	India	South Asia
5	Mumbai	India	South Asia
6	Shenzhen	China	East Asia
7	Guangzhou	China	East Asia
8	Suzhou	China	East Asia
9	Riyadh	Saudi Arabia	Middle East
10	Manila	Philippines	Southeast Asia

Source: Savills Research

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Vietnam has two cities in the top fifteen: Ho Chi Minh City excels due to the rapid growth of high-income families, while Hanoi thrives on increasing personal wealth and a burgeoning middle class.

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Despite a slowing Chinese economy, China’s five cities, Shenzhen, Guangzhou, Suzhou, Wuhan, and Dongguan, are among the top 15 global growth hubs due to their large-scale approach, infrastructure, and convenient commuting.

The Growth Hubs Index is a companion to the Savills Resilient Cities Index by forecasting the economic aspects of 230 cities through 2033 to identify the fastest-growing cities.

In another notable mention, Riyadh, the capital of Saudi Arabia, is the only city among the top 15 global growth hubs in the Middle East, with a projected 26% population growth from 5.9 million to 9.2 million within 10 years, as per the index.

This growth is crucial to Saudi Arabia’s economic objectives and will necessitate continued government spending on infrastructure projects and improved services and amenities.

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India’s position explained:

In India, 35% of the population currently resides in urban areas, and due to rapid urbanization, five of its cities have secured positions among the top 15 global growth hubs.

Notably, a significant influx of migrants from Tier-2 and Tier-3 cities is expected to drive New Delhi to become the world’s most populous city by 2030.

Additionally, a strong services sector, fuelled by a young and educated workforce, will advance banking, finance, and technology; major IT centres like Bengaluru, Mumbai, and Hyderabad are projected to achieve the highest rates of GDP growth per capita over the next decade among the 230 cities analysed.