Hyderabad: Hyderabadis are living in the fifth most dynamic city in the world, ahead of London, Austin and Boston. The city stands fifth in the world according to the City Momentum Index (CMI), drawn up by a professional services and investment management firm JLL. Bengaluru clinched the top spot.
In fact, India snatched the lead from China as home to some of the world’s fastest-changing cities, taking six of the top 30 positions, compared to China’s five.
Hyderabad’s innovation and technology are the key factors for its high position in the rankings. Major factors that characterise the world’s most dynamic cities, apart from technology and innovation, are the ability of cities to absorb, adapt and leverage.
“What has become apparent is Hyderabad and Bengaluru are now becoming more tightly networked and are outperforming their national economies. The most successful cities seek to sustain momentum and innovation by cultivating their research and educational capabilities, and by inve-sting in infrastructure,’ disclosed the survey.
Over 42 variables from the city were examined. Forty per cent weightage is given to socio-economic factors — GDP, population, air passengers, corporate headquarters and foreign direct investment.
Thirty per cent weightage is on commercial real estate momentum, which encompasses changes related to construction, rents, investment, etc.