Karachi is on the threshold of becoming the world’s third most populated city by 2030. Euro monitor, London’s global market research firm has made the prediction on the basis of a study. They revealed that the population of the port city is expected to grow by more than 30%, the second highest growth rate, between 2017 and 2030. The firm overviewed the existing economic and demographic state of 33 megacities of the world.
The research firm defines megacities as those with a population of 10 million or more, featuring the wealthiest households and those which are frequently the prime destination for investment in a country.
According to the report, only 15% people used to live in cities in 1900, but the number rose spectacularly by 2008 when more than half of the world’s population moved to urban areas.
The report predicts that 60% of the world’s population will live in urban areas by 2030. This is because megacities put forward wealth, social miscellany, economic growth, and modernization. They catch the attention of people from minor cities and countryside areas who are in search of jobs, want to start a business or get a quality education.
Megacities in developing countries, such as Pakistan and Bangladesh, will persist to uphold their high levels of growth through 2030 owing to strong population growth, major investment and rising incomes. Conversely, the report moreover says if these cities want sustainable expansion, they will need to rise above hurdles allied with urban growth. These contain traffic blocking, income inequality, air pollution, crime, affordability and slum generation.
The report says while it comes to megacities of developing countries like Pakistan, the hurdles to sustainable growth are far too many. This means that a city like Karachi will need to ensure way in to public amenities, clean water supply, electricity, education, and jobs.
Karachi is projected to have second highest population growth rate through to 2030, but it remains at number 9 in terms of growth in the real GDP—a distant south of Dhaka, which remains on top.