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The Global Growth Hotspots of the Future Are Here

  • HSBC report says investors need to focus on growth of cities
  • Urbanization rate in EM cities expected to rise to 63 percent

If you want to be at the epicenter of global growth in the next few decades, you could do worse than relocate to somewhere like Kigali, Foshan, or Belo Horizonte. 

That's because many cities that today are still comparative backwaters on a global level will become major contributors to economic performance thanks to fast population growth, according to a new report by HSBC economist James Pomeroy.

While wealthier countries are more urbanized today, the proportion of urban to rural dwellers in emerging markets is expected to climb to 63 percent in 2050 from 50 percent now, according to the study, which draws on research by McKinsey and the United Nations.