Insight
Title:
Urbanisation
Description:
  • Today, more than half the world’s population live in urban areas and almost all of the new growth will take place in lesser known medium-sized cities of developing countries. (Source: Megatrends - Issues - PwC UK)
  • 1.5 million people are added to the global urban population every week. Source: 2020: Preparing for a Decade of Change and Transformation

  • Baby boomers are a particular demographic wave moving into cities to enjoy their amenities post-retirement. (Source: Baby boomers instigating city changes – mallowstreet)
  • The increasing pressures of urbanisation are leading to increasing interest in 'smart cities' (Source: Anatomy of a smart city)

  • As a counter-trend, worsening commutes and increasing real-estate prices mean that large employers will look for alternatives to concentration in large cities. This could include smaller regional offices, flexible working from home, or working from localised shared work-centres with virtual teams enabled by collaboration technologies.

Open question: Remote working has been proven to be effective for most office workers during the COVID-19 pandemic. Will this slow or even reverse the trend towards urbanisation, particularly in the developed world?

PESTEL:
Social

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