According to McKinsey, by 2025, roughly $250 billion of GDP will be concentrated across only 60 mega-cities – that’s a fourth of the total global GDP.
Significantly, 21 of these high growth cities will be located in emerging markets, particularly China.
“21st-century China is urbanizing on a scale 100 times that seen in 19th-century Britain and at 10 times the speed,” observe McKinsey principals Aimee Kim, Nathalie Remy and Jennifer Schmidt in their September 2014 article ‘The glittering power of cities for luxury growth.’
Luxury Companies - Emerging markets already making their mark on luxury sales.
Indeed, demand is already trending higher in emerging markets as seen in the chart from McKinsey below.
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