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1.3m Guangzhouers to earn high income by 2030
Guangzhou — along with Shanghai, Beijing and Hong Kong — will rank among the top 30 cities in the world by 2030 for the number of high-income individuals.

Updated:1499852348Source:SilkRoadPost

Guangzhou — along with Shanghai, Beijing and Hong Kong — will rank among the top 30 cities in the world by 2030 for the number of high-income individuals. The city will have 1.3 million high-income earners by that year, according to the Global Cities 2030 study, released by Oxford Economics.

The study is a city forecasting project known for its depth of knowledge on cities, the breadth of variables it uses and its rigorous underpinning methodology. It explores market trends and opportunities across the world’s most important cities today and tomorrow, examining how the urban landscape will change and look by 2030.

The report graded 750 cities on economic data like population, GDP, growth outlook and consumers’ income. Of the 750 cities, 91 are on the Chinese mainland.

Among all the economic data collected, spotlight is focused on GDP and the number of high-income groups.

Seven Chinese cities will be listed among the top 10 world cities with the greatest increase in GDP in 2030, including Shanghai, Tianjin, Beijing, Guangzhou, Shenzhen, Chongqing and Suzhou.

The number of high-income Chinese consumers is set to leap ahead over the next two decades. Starting from a comparatively low base today, China will boast some 45 million urban households in 2030 with annual incomes in excess of US,000. It is estimated that 1.3 million residents in Guangzhou will be classified as high-income earners.

Editor:Joanna You
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