A staggering 90% of this urban population growth will take place in African and Asian countries with rapid urbanisation placing huge demands on infrastructure, services, job creation, climate and environment.By harnessing economies of scale, cities have a special ability to achieve more than the sum of their parts, adding value for both people and companies.This comes from improved tax collection and the implementation of land value capture that is realised when new development takes place and income generating services (parking is an obvious example here).
Second, housing is a particular and ubiquitous challenge in search of an innovative solution.
From San Francisco to Addis Ababa, the pressure to supply affordable housing is reaching critical status.
Unplanned and poorly managed urbanisation can give rise to inequity, pollution and costly sprawling development patterns.
Cities can also create inequality and often have the largest gaps between the ‘haves’ and the ‘have nots’.
Countries that are entering a period of rapid urbanisation can therefore make better choices about urban development about how to position themselves in the global or regional economy.