The growth of Millionaire cities and Megacities
Increase in global Urbanisation has resulted in the development of a number of Millionaire cities. There has also been a rise in Megacities and in some cases, World cities.
Millionaire cities - are cities with more than 1 million people. India and China have the most Millionaire cities. Example - Shanghai, China
Megacities - are cities with more than 10 million people. There are currently 20 megacities with 15 in the developing world. Example - London, England
World cities - are cities which have influence on a global scale, due to their finaicial status and worldwide commercial power. The three main cities of the global hierarchy are: New york, London and Tokyo. They house many of the headquarters of the TNCs and are centres of world finance. Example - Tokyo, Japan
Global Pattern of Urbanisation
- Nearly 50% of the worlds population lives in towns and cities and 19% live in millionaire cities, Megacities and worldcities.
- Most urbanised areas are: North America; South America and Oceania. Least Urbanised are: Asia and Africa
- Urban growth is the largest in Asia with 40% of the population living in towns and cities
- By 2025, due to large amounts of urbanisation in Asia and Africa, it is expected that 80% of urban dwellers will live in developing countries