FX.co ★ World’s 10 fastest growing cities

10th place - Guangzhou, China

Guangzhou, the Chinese third largest city following Beijing and Shanghai, opened a new era of the market economy, and now it serves as a coordinating centre for the integrated development of the national economy. Guangzhou is a city with a powerful industrial foundation and expanding free economic zones. The service and consumption spheres are developing rapidly due to the growing number of retail chains (currently, there are more than 100 thousand).

Besides, Guangzhou has a major commercial port and a powerful financial centre for attracting investments in the southern part of China. The city ranks second by the total number of foreign banks operating in the country.

9th place - Xi'an, China

Xi'an used to be the capital of the country and the place where the Great Silk Road started. Today, this modern metropolis competes for the status of the new world’s centre of innovative technologies.

Research works are carried out in the most promising spheres: green technologies, environmental business, artificial intelligence, renewable energy sources etc. For instance, Xi'an was the first city to successfully implement the Sponge City project when rainwater is collected and redirected to an artificial lake. The problem of overpopulation in Xi'an is being solved gradually by the rapid development of new city areas, thus creating a favourable environment for expanding business and attracting investments. In general, the metropolis plays an important role in the implementation of the One Belt, One Way initiative launched by China.

8th place - Ho Chi Minh City, Vietnam

Ho Chi Minh City, or Saigon, is currently Vietnam’s most populous and developed city. It successfully applies technological advancements for its economic growth and attracts a significant share of foreign investment into the country. About 100 financial firms operate on the Ho Chi Minh Stock Exchange. Recently, medical tourism has been actively developing in the city. Its electronic industry, telecommunications, information and computer technologies are at a top level as well.

Ho Chi Minh is home to 3 export processing zones,12 high-tech parks, one major thermal electric power station, and the country’s largest international airport. Visitors to the city will find hundreds of large and medium markets, thousands of street and "night" markets as well as dozens of modern shopping centres.

7th place - Chennai, India

Chennai, known as Madras until 1996, is one of the largest industrial centres in the country, a major port and an automobile capital of India. The Chennai-Mumbai industrial development corridor is a key route in setting up new centres of growth. Branches of major Indian companies, main offices of banks and other commercial structures are located in the city centre.

The Ambattur-Padi industrial zone includes such foreign factories as Hyundai, Ford, Mitsubishi, and others.

In addition, the Madras Stock Exchange has been functioning in Chennai for a long time.

6th place - Nairobi, Kenya

Looking at modern Nairobi, it is hard to imagine that this site was once covered with swamps and used to be a railway depot. Today, the city is one of the world’s centres of ecological tourism. Over a short period of time, the capital of Kenya has expanded and become the biggest city in East Africa.

The Nairobi Securities Exchange (NSE) operates in the city. Besides, there are local offices and factories of such international companies as General Electric, Google, Coca Cola, General Motors, Toyota Motors, and others.

5th place - Pune, India

Pune, a city with a thousand-year history, is now one of the main business hubs in the country and the third most important IT-centre of India after Bangalore and Hyderabad. Pune has a well-developed auto industry along with motorcycle production. Factories of such major automobile companies as Tata Motors, Mercedes-Benz, Force Motors etc. also operate in Pune.

4th place - Delhi, India

Delhi is widely known as an auto capital of India as there are more vehicles here than in the four megacities all together. It is expected that the Delhi-Mumbai industrial corridor will continue to play a key role in the development of the joint areas which is a fairly large part of the country.

The city’s economy is mainly driven by investments in new housing construction as well as by expenses on improving utility services, health care, and production of various consumer goods.

Modern Delhi is a major business hub with a focus on advanced economy. Such spheres as IT, telecommunications, financial sector, tourism, and the media are rapidly developing in the city.

3rd place - Hanoi, Vietnam

Over the past 65 years of freedom from French colonists, Hanoi has undergone significant changes. The capital of Vietnam has become the main political, educational and cultural heart of the country and the second most important industrial hub.

After the expansion of the administrative border 10 years ago, Hanoi saw the rapid social and economic development and the establishment of international relations. Creation of a modern public transport system became one of the priorities of Hanoi’s development.

2nd place - Hyderabad, India

Hyderabad is considered the main pearl trading centre which is why it is called the "City of Pearls." As in many other Indian cities, history and the modern world are mixed up in Hyderabad: business districts and modern universities stand close to the monuments of Muslim history.

Besides, the urban infrastructure is well-developed even in the poorest neighbourhoods. The city can be called the centre of the Indian computer industry. Hyderabad is competing with Bangalore for the title of a high-tech capital.

1st place - Bangalore, India

Bangalore, often called the Indian Silicon Valley, got this title back in the 90s due to a large number of IT companies located there. Bangalore is considered one of the most promising cities for setting up and developing business in South Asian region.

The metropolis has the biggest concentration of production in engineering, aerospace and defense industry, electronics, and telecommunications. In addition, Bangalore has prestigious universities, research institutes, and scientific research laboratories.