McKinsey Global Institute in an April 2012 report entitled “Urban America: US cities in the global economy” states that “The overwhelming role that cities play not only as home to the vast majority of Americans but also as the dominant driver of the nation’s economic growth and a major continuing contributor to world GDP growth argues for a keen focus on their prospects.”
It highlights key challenges and opportunities for America’s cities as they plot their path to recovery. “In the next few years, many cities are likely to grapple with the dampening impact of de-leveraging on economic activity as the public sector and individuals attempt to pay off high debt levels, as well as persistently high pockets of unemployment. They also face longer-term headwinds including the aging of the population, which will require even more emphasis on boosting productivity, innovation, and skills.”
Reference and photo: Urban America: US cities in the global economy, McKinsey Global Institute
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