By 2016, Nairobi will be one of the fastest growing cities in the world, the Economist Intelligence Unit (EUI) study has revealed. In the survey of the global competitiveness of cities, the EUI published that if Nairobi continues at its projected growth of 5.2%, it will be among the 40 fastest-growing cities in the world within the next four years.
A study report dubbed Hot Spots: Benchmarking Global City Competitiveness, it considered 120 cities around the world. Nairobi, like other cities in the developing world, lagged behind coming in at the 115th position for overall competitiveness.
However, the city could climb up the ranks in the coming years.
“With concomitant improvement in some other aspects of competitiveness — such as the quality of infrastructure and the regulatory environment — these cities could rise up the Index rankings quickly,” highlights EUI report.
The cities surveyed in the research commissioned by Citigroup represent about 29 per cent of the global economy and have a combined GDP of $20.2 trillion. EUI defined competitiveness as a city’s ability to attract capital, business, talent and visitors. It measured this by considering 31 categories, including the business and regulatory environment, the quality of human capital and other cultural aspects.
Despite the sombre overall ranking, Nairobi beat some of the world’s largest cities to come in at the 50th position for the quality of human capital. Johannesburg was 53rd in this category while Tokyo and Beijing trailed in the 56th position.
On going infrastructure projects are making the city habitable and attractive to skilled labour and companies.