Madrid, Barcelona face uncertain future: report

21st March 2007, Comments 0 comments

21 March 2007, MADRID – Madrid and Barcelona are set to lose their places among the world’s richest cities, due to competition from Asia, a report said on Wednesday.

21 March 2007

MADRID – Madrid and Barcelona are set to lose their places among the world’s richest cities, due to competition from Asia, a report said on Wednesday.

Procter and Gamble’s list of the richest cities in 2005 said the Spanish capital came 23rd in the world ranking.

Barcelona came in at 31, in terms of the GDP adjusted for purchasing power.

But by 2050, they will have fallen down the table.

Madrid will be number 25, superseded by Shanghai and Mumbai.

Barcelona will fall to number 42, beaten by Singapore and Kolkata.

The world’s four richest cities, Tokyo, London, New York, Los Angeles and London will stay in the top four.

[Copyright EFE with Expatica]

Subject: Spanish news

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