Delhi More Promising Than NYC, London For Living: Report – Business Standard – 15-Nov-2014
November 15, 2014 - Uncategorized
If you want to earn more, spend less on public transport and feel safer, Delhi is the city for you. India’s national capital scored better over cities such as New York and London on these parameters, according to a study by London School of Economics and Deutsche Bank’s Alfred Herrhausen Society.
The study said Delhi’s projected increase in income per capita is the highest among the seven other selected cities, including Tokyo, Lagos, Bogota, Istanbul and Turkey.
“It’s (Delhi) average annual gross value-added (GVA) growth in the metro area from 2012 to 2030 will be seven per cent. In London, it will be 2.8 per cent, in Lagos, 6.6 per cent, in New York, 2.9 per cent and in Tokyo, only 1.1 per cent,” the study, which was released on Saturday, revealed.
“This despite the population of the Delhi metro area over the same period projected to grow by two per cent a year.”
The population growth for London will be 0.9 per cent, Lagos 6.4 per cent and New York 0.4 per cent, respectively. It will be negative for Tokyo.
The study said cost of public transport was much cheaper in Delhi as compared to the other cities. If it was $0.25 for Delhi, it was $2.5 and $2.4 for New York and London, respectively. Even cities such as Istanbul ($0.99) and Bogota ($0.9) had costly public transportation.
The murder rate in Delhi, despite having the second-highest population density, was much lower than that in New York and Istanbul. But Delhi did lag in terms of income equality, green space per person and pollution.
“Delhi, like other cities in rapidly growing economies, has a high level of income inequality (measured by the GINI Index – the lower the value the greater the level of social equality; the higher the value the greater the inequality). While London has an index of 0.36 and Berlin 0.29, Delhi has a relatively high figure of 0.6, yet lower than Lagos at 0.64 and many other African and Latin American cities,” the report said.