Many cities are revitalizing themselves and becoming more attractive to many people — whether it is due to opportunities, livability, sustainability or other offerings. Urban transformation is the concept of some of the smaller cities becoming global players amongst other top cities.
They are making changes to become globalized on the level of large cities like Hong Kong and New York. Due to this they are attracting more population who are looking for these types of things but may want to be in a smaller city. Let’s look at some examples of cities that are going through these urban transformations.
1. Copenhagen, Denmark
The capital of Denmark is considered one of the top cities for quality of life. With great urban planning initiatives throughout history including establishing car-free zones as far back as the sixties, Copenhagen leads the pack in many surveys and reports. It ranks 9th globally for quality of living on the Mercer Quality of Living rankings and ranks 6th on JLL’s Investment Index. The high ranking for investment purposes is not a surprise as the quality of life is so high that there is high demand for individuals wanting to live within the city.
2. Santiago, Chile
This city has become a haven for businesses and entrepreneurs in South America with programs like Start Up Chile. This program makes the business environment incredibly friendly and helps to get new businesses and startups connected globally as well as help them to achieve funding goals. Proving its business friendliness and innovativeness, the capital of Chile has been ranked second of best places to do business in Latin America by AmericaEconomia. Due to this popularity with businesses it is also seeing an uptick in commercial real estate investment.
3. Tel Aviv, Israel
Population growth has been astounding in this Israeli city with it becoming the densest populated city in the country. At over 7,500 people per square kilometer, Tel Aviv continues to attract more people due to its innovation and becoming a technology hub. The city was ranked #6 for tech start up hubs by Start Up Genome and has somewhere around 2,500 tech startups that cater to the international market.
4. Vienna, Austria
This city has a lot of history but it is planned to stay modern and is looking to the future to innovate with a program called Vienna 2025. Vienna also has been consistently ranked as one of the top quality of life cities in several different reports including topping the Mercer Quality of Living rankings.
5. Seattle, Washington (USA)
This city in the Northwest of the United States is a hotspot for attracting top workforce talent especially in the tech industry. It is ranked 8th on EIU’s ranking of human capital hotspots. Looking at the business landscape it is no surprise that this city is attracting top talent as some of the world’s top companies are based here including Amazon, Starbucks and Microsoft.
These companies are also investing into the commercial real estate space with Amazon leading the way investing in a gigantic and innovative expansion of 3.3 million square feet that will cover three city blocks.