Globally, urban growth is an emerging trend of late.  More than half of the world’s population now lives in towns and cities, and this number keeps on swelling.  It happens across the world, bringing huge social, economic and environmental transformations.   It has the potential to usher in a new era of well-being, resource efficiency and economic growth.  Urbanization offers opportunities and challenges arising as a result of the rapid urbanization currently occurring.  It is paradoxical that there exists a huge disparity of wealthy and poor in urban area.

Cities will increasingly become engines of growth as urbanization continues at this rate.  According to estimate the proportion of the global population living in urban areas will reach 60% by 2025 in comparison with rest of the place.

The productivity tends to go up in urban areas that attract more qualified workers consequently pushing up wages and prices.  Rising income levels fuel the demand for consumer goods and financial services products.

The future of real estate will continue at a rapid rate in the future, over 500 million more people are projected to live in the key 2,000+ cities in 2025 than in 2005.  This creates huge urban growth.  Those 500 cities will be experiencing the largest absolute rise in GDP will contribute 76% of total global GDP growth between 2015 and 2025.

Aging populations are an increasingly common issue; the population growth in the 65+ age group will outpace the growth of the under 15 age cohort across all regions.  Additionally, almost 57% of the population growth in the 65+ age category will take place in Asia-Pacific.

Rapid urbanization creates a new consumer base and opportunities are numerous and varied among the growing number of cities.  For example, while consumers in developed regions are becoming increasingly aware of environmental challenges related to over-consumption, new consumers in emerging regions will drive FMCG uptake.