Cities are the defining form of human organization in the 21st century. In 1980, just 1.7 billion people lived in cities. By 2050, the world’s urban population will swell to 6.4 billion. By the end of this century, 80-90% of humanity is expected to be city dwellers. The vast majority of tomorrow’s urban growth will occur in the medium-sized and large sprawling cities of Africa and Asia. And since many cities are urbanizing before they industrialize, the slum population is set to double in the next decade. While everyone agrees that cities are growing in size and scale, there’s a worrying silence about what they will look like, much less how they will be financed.
The future of urbanization hangs in the balance. If unplanned, tomorrow’s large and intermediate cities may be condemned to fragility – sprawling, polluting, congested and impoverished. If designed with the future in mind, tomorrow’s cities can be resilient – dense, green, human-centered and prosperous. The urban dilemma can be converted into an opportunity, but doing so will require a dramatic change of mindset. Decisions taken in the coming years by national and municipal public authorities, business leaders, and investors and civic entrepreneurs will have monumental implications for what happens next.
Source: European Sting - https://europeansting.com/2019/04/01/innovative-urban-financing-can-make-our-cities-stronger/