London will still be a powerhouse city by 2035, but Paris is set to be knocked down by Beijing and Shanghai, says Oxford Economics

 
Lucy White
FRANCE-ECONOMY-LABOUR-LA DEFENSE
Asian cities are set to climb (Source: Getty)

Young City hotshots can breathe a sigh of relief: London will still be one of the world's top five cities by economic performance in 2035, according to Oxford Economics.

Parisians, however, may not be so lucky – their city's place in the world's top five by gross domestic product (GDP) is set to be usurped by Shanghai.

By 2035, Asian cities will account for almost half of global activity, Oxford Economics estimates – overtaking European and North American cities combined in just over a decade.

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"We forecast significant growth disparities between cities and therefore expect to see considerable changes in the world economic order over this period," said the adviser's associate director Mark Britton.

"The world’s urban centre will continue to shift eastwards, particularly as growth in a number of cities in the West is likely to be constrained by an ageing, and in some cases declining, population."

Other Chinese cities, such as Beijing, Guangzhou and Tianjin, are expected to climb into the top 10 while with Dongguan, Jinan and Xian will move into the top 100. Four non-Chinese Asian centres will also enter the top 100: Mumbai, Delhi, Bangalore and Kuala Lumpur.

By 2035, Oxford Economics predicts the top 780 cities will be home to almost half a billion additional people, with 264m more people in employment and the value of GDP rising by an extra $32 trillion.

But there wouldn't be too much change at the very top end of the GDP spectrum, with New York, Tokyo, London and Los Angeles leading the way.

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