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III – Which are the largest city economies in the world ...

20 PricewaterhouseCoopers UK Economic Outlook November 2009 III Which are the largest city economies in the world and how might this change by 2025? largest city economies by GDP in 2008 and 2025 in Annex Long-term historic trends in city populationsUrbanisation has been one of the major global themes of the past century and all the indications are that major cities will provide an increasing focus for global economic activity over the course of this century. In 1900, there were only 16 cities in the world with more than 1 million inhabitants, mostly in the advanced economies ; now there are over 400 such cities according to United Nations (UN) estimates, around three-quarters of Which are in low and middle-income countries. In 1950, the rural population of the world was around twice the urban population, but by 2010 the UN estimates that the urban population will be greater and by 2030 it projects a total global urban population of around 5 billion compared to just over 3 billion in rural areas (see Figure ).

national economies such as Sweden and Switzerland. Cities are also centres of innovation, creativity and culture, as well as focal points for government, finance, business services and corporate headquarters in their respective countries (and sometimes also their regions in the case of financial centres like London

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