Mega Cities’ Impact on the Global Pumps Market

Published: 16 May 2017

The emerging economies of India, Brazil, and China in particular, have made headlines for more than two decades now on the back of rapid economic development coupled with reduction of poverty and rising spending power on an unprecedented scale. Meanwhile, from the developed economies’ point of view, after just having recovered from acute financial crises, the economies are finally on the way to returning to solid growth. However, when we look at it below the national level, the key powerhouses of growth for most of these economies, whether developed or developing, are the growing number of mega cities in these regions. The rapid rate of industrialization and growth stemming from the world’s 750 biggest cities is resulting in a boom in the number of diverse and skilled labour forces and is collectively contributing toward the growth of global GDP. Currently, these mega cities account for nearly 57% of the global GDP and by the end of 2030, they are expected to add a staggering $80 trillion to the global economy, making up almost 61% of the total.

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