Ho Chi Minh City (2nd) and Hanoi (8th) have made rapid progress and now sit in the Global Top 10.
“Their success has been underpinned by favorable demographics and significant FDI as they take concrete steps to liberalize their business environments,” the report stated.
Ho Chi Minh City is one of the world’s most dynamic urban economies with low costs, rapid consumer market expansion, and a transition towards higher-value activities driving significant levels of FDI and the construction of office, retail and hotel stock to meet demand.
This transition is at an early stage, however, and traffic congestion remains a serious impediment to quality of life and productivity levels, which are needed to ensure future momentum.
Meanwhile, Hanoi is seeing vigorous economic growth, with strong increases in population and incomes driving its retail and residential sectors.
The CMI assesses 134 cities with a weighted overall score based on 42 short-term and long term variables. The list of top 20 cities demonstrates major global trends and changes by exploring the underlying causes that keep cities competitive and dynamic, as well as identifying signals for change that will impact their future.
