The My Dinh new urban area in Tu Liem District, Hanoi

GDP in Hanoi and Ho Chi Minh City will grow faster than in any other cities in the world through 2025, according to PricewaterhouseCoopers LLP.

The report, published in UK Economic Outlook, saw Vietnam’s two biggest cities climb from spots 116 to 82 and 95 to 64, respectively, in the GDP rankings. Shanghai and Mumbai are also going to jump more than 15 steps in the scale from 2008 to 2025, according to PwC.

The figures show how the global economic landscape might change and which cities may provide the most compelling draw for capital and labor in the future, PwC said in a statement.

Many other cities in the top 30 are in China and India.

Thomas Hoehn, economics partner at PricewaterhouseCoopers LLP, said “Global economic activity is concentrated in the world’s largest cities and it is important to understand how those cities compare, especially when many developed economies are experiencing economic difficulties while countries like China and India continue to grow.”

John Hawksworth, head of macroeconomics at the company, said “If you look at the projected percentage GDP growth from 2008 to 2025 of the top emerging and the top advanced economy cities, the comparison is stark.”

Cities such as Shanghai, Beijing and Mumbai are projected to grow at around 6-7 percent a year in real terms, while cities such as New York, Tokyo, Chicago and London may grow only at around 2 percent, Hawksworth said.

“In absolute terms, the projected rise in Shanghai’s GDP between 2008 and 2025 is greater than the combined GDP increase for London and Paris together.”

Statistics by PwC in 2008 showed that the 100 biggest cities worldwide including Tokyo, New York, Los Angeles, Chicago and London accounted for around 30 percent of the global GDP. The report this year said the top 30 cities in terms of average GDP growth would account for 18 percent of the world GDP by 2025.

Source: VNA