Delhi Is Asia's Fastest Growing City

According to a recent research by Oxford Economics that analysed 30 Asian cities, Indians cities would see the fastest GDP (gross domestic product) growth in the next four years. National capital, Delhi, says the report, will be the fastest growing city in Asia, with its economy growing 50 per cent by 2021 when compared to its size in 2016.

An earlier report by Oxford Economics said: "In India, the stand-out performer will continue to be Delhi, where the key issue is the outlook for financial and business services. Strong growth in the sector reflects a range of factors, from agglomeration effects to reforms in company law which (though limited) should stimulate demand for financial and professional services."

“In the short term, this is conducive to strong growth in Delhi's professional services sector, as overseas investors seek advice on possible deals, while in the long term it should mean steady income streams for such businesses,” wrote Mark Britton, lead economist on the current report.

Interestingly, closely following Delhi at the third spot will be Tamil Nadu capital and information technology hub Chennai — the Ho Chi Minh City in Vietnam occupies the second spot, the only non-Indian city making it to the top-five in the list. Mumbai, Hyderabad, Kolkata and Bengaluru are ranked at fourth, fifth, sixth and seventh spot, respectively.

According to a recent report by Economist Intelligence Unit, Bengaluru, Chennai, Mumbai and New Delhi are among the cheapest cities to live in the world. While Bengaluru is placed at the third sport in that list, Chennai is ranked sixth. Mumbai and Delhi are ranked at the seventh and 10th spot, respectively.

Singapore on the other hand retained its spot as the costliest city in the world, for the fourth time in row. Asia houses some of the world's most expensive cities, apart from being home to many of the world's cheapest cities.

The ranking of certain cities may come as a surprise to many. Japan's capital Tokyo, for instance, has found the 28th spot in the ranking. Hong Kong, which happens to be the world's costliest property market in the work, has received 22th ranking. Singapore, another expensive property market, is ranked 17th in the list. Chinese capital Beijing is ranked 10th in the list.

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