East African technology hub and Kenya’s capital, Nairobi has been named among the top 30 World’s Most Dynamic Cities. According to the City Momentum Index (CMI) Nairobi is ranked 13th ahead of Beijing (15), Sydney (16), Paris (17), Delhi (23), Mumbai (25), Dublin (21) and Stockholm (30)
The study ranks cities in five categories: Established World Cities, New World Cities, Agile High Value Emerging, Emerging Megacities, and High Potential Cities.
Established World Cities’ are the world’s most highly globalized and competitive economies with the deepest and most settled concentrations of companies, capital and talent.’New World Cities’ are small to mid-sized cities (typically 1-5 million population) that have robust infrastructure and attractive liveability platforms and deliberately focus on a limited number of global specialisms.
The Agile High-Value Emerging Cities’ are high-growth cities in emerging economies that are successfully transitioning to higher-value manufacturing and service-based activities. While ‘Emerging Megacities’ are cities with populations over 10 million, where growth in domestic corporations and foreign direct investment (FDI) into areas such as business process outsourcing helps to fuel strong momentum.
Nairobi is in the category of High Potential cities. High Potential Cities’ exhibit among the most robust demographic and economic growth in the CMI. They also drive significant levels of FDI and commercial real estate construction. Nairobi’s also exhibits rapid consumer market expansion and high levels of foreign direct investment (FDI).
The JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. JLL is a Fortune 500 company
The cities in JLL’s fourth annual City Momentum Index of the world’s most dynamic cities share the ability to embrace technological change absorb rapid population growth and strengthen global connectivity. Cities in India, China and Vietnam, along with several in the U.S., head the list of the world’s fastest changing cities.
The 134 cities covered by the CMI were assessed using 42 variables including recent and projected changes in city gross domestic product, population, corporate headquarter presence, commercial real estate construction and rents. Other factors included education, innovation and environment.
Technology continues to be a major driver of momentum in the world’s 30 fastest-changing cities. These cities provide fertile environments for innovation and successfully integrate into global networks, often outperforming their national economies.