The Capital City of the Philippines, Manila, is ranked at No. 2 in the Likeliest Emerging City to Rise in the world according to the latest report published by Bloomberg. The ranking is based on the data gathered by A. T. Kearney Inc.
Manila Skyline (Photo Credit: Inquirer.net)
In a report posted by Bloomberg, Indonesia’s capital, Jakarta led the 34 cities in low and middle-income countries in a survey conducted by, A. T. Kearney Inc., a Chicago-based consulting firm that measures the likelihood of an improved global standing over the next 10 to 20 years.
The ranking is based on metrics such as business activity, human capital and innovation. Coming in second place is the City of Manila, followed by Ethiopia’s capital, Addis Ababa which ranked at third.
Based upon the survey results, cities in emergin Asia made up half of the Top 20 List of Cities of the Future. According to the Asian Development Bank, Asian cities will grow 6.2 percent this year.
The top 2 cities of the future, Jakarta and Manila are benefiting from the emergence of the Asean Economic Community. The 10-member Association of Southeast Asian Nations (ASEAN) are working toward allowing the free movement of goods, services, investment, capital and skilled labor as part of the EU-style integration plan, without the common currency system, by the end of 2015.
Meanwhile here’s the Top 20 Cities of the Future:
3. Addis Ababa
4. Sao Paulo
5. New Delhi
6. Rio de Janeiro
10. Kuala Lumpur
16. Cape Town