How Does Mumbai Fare Vis-à-vis Global Cities?

 

The proposal to make Mumbai a global city and an international financial centre are being debated for long. Though it is India's financial capital, Mumbai lags behind major cities of the world on many parametres.

The city's real estate is among the most expensive in the world, but the cost does not justify the benefits. The maximum city's population density is higher than all major cities, but building density is the lowest among all the major cities. A vehicle parked on Mumbai street imposes greater cost on people than a vehicle parked in London or New York. But parking charges in Mumbai are a small fraction of that of London, New York, Tokyo or Singapore. As far as GDP per capita is concerned, the cost of accommodating an employee in Mumbai is five times that of San Francisco's. Even though office rent per person in London is four times to that of Mumbai, when compared to GDP per capita, it is still much higher in Mumbai. Undoubtedly, Mumbai is unbrearably dense, overseas vistors per night are only 71,000, while in London the figure stands at 2,99,000.