Bengaluru Leads Savills' Fastest-Growing Cities Ranking: A Hub for Global Innovation

Bengaluru has been ranked the world’s fastest-growing major city through 2035 in Savills’ Growth Hubs Index, which is part of the firm’s Resilient Cities research programme. The index assessed 245 cities globally using projected GDP growth to 2035, personal wealth expansion, demographic trends, inward migration, and the number of high-income households.

Savills is a global real estate advisory firm that publishes research on cities, property markets, and investment trends. The Growth Hubs Index is a global city ranking that measures expected urban and economic growth over a long-term horizon. It provides insights into which cities are likely to see the most significant development in the coming years.

Bengaluru’s first position is linked to its talent pool and its role as a destination for Global Capability Centres (GCCs). GCCs are offshore units set up by multinational companies for functions such as technology, finance, analytics, and operations. India had multiple cities in the top 20 of the index, placing the country among the leading country groups in the study, alongside cities from Vietnam, China, the Philippines, and Malaysia.

Asia-Pacific cities accounted for around three-quarters of the top 50 and 85% of the top 20 fastest-growing cities in the ranking. Manila and Kuala Lumpur were among the cities placed in the top 20. The report linked high-growth urban centres with demand in residential, commercial, and infrastructure segments. Real estate markets in such cities are classified by rising activity in housing, office space, and transport-linked development.

Urban growth rankings are used in real estate research to compare long-term city prospects. Bengaluru’s placement places it among the major global urban centres tracked for economic and property-market expansion through 2035. The city’s robust growth is not just a testament to its current status as India’s technology and GCC hub but also a projection of its future potential.

Bengaluru, often referred to as the ‘Silicon Valley of India,’ has a large concentration of multinational firms. The city’s ability to attract and retain talent, combined with its favorable business environment, makes it an attractive destination for global companies. This, in turn, fuels further economic growth and development, creating a positive feedback loop that drives urban expansion.

The real estate sector in Bengaluru is expected to see significant activity, particularly in the residential and commercial segments. The demand for housing and office space is likely to rise, driven by the growing population and the influx of high-income households. Additionally, the development of transport infrastructure will play a crucial role in supporting the city’s growth and improving the quality of life for its residents.

Savills’ research highlights the importance of these factors in determining the growth potential of cities. GDP growth, inward migration, and the presence of high-income households are common indicators used in city growth studies. These metrics provide a comprehensive view of a city’s economic health and its ability to attract and sustain investment.

In conclusion, Bengaluru’s top ranking in the Savills Growth Hubs Index underscores its position as a leading global urban centre. The city’s strategic focus on technology and innovation, coupled with its strong economic fundamentals, positions it well for continued growth and development in the coming years.