The 15 World Cities That Are Having An Awesome Recovery

Singapore

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Two years into the ostensible recovery, Brookings has published a comprehensive report on the strongest metro economies before, during and after the global recession.There’s no doubt where the recovery has been strongest. Emerging markets make up all of the 15 top ranked metros, including Shanghai, Mumbai and Rio de Janeiro.

The worst metro recoveries list is more diverse. Three American cities make the bottom 15, along with headline favourites Dubai, Athens and Dublin. As the eurozone unemployment reaches a 12-year high, expect more European cities to sink to the bottom.

The report by Brookings, Deutsche Bank and London School of Economics ranks 150 global cities by employment and income growth.

#15 Guadalajara, Mexico

Post-recession annual income growth: 6.3

Post-recession annual employment growth: 2.1

Guadalajara's growth rate was ranked #69 before the recession. It fell to #98 during the recession. It rose to #15 after the recession.

Mexico's second most densely populated metro and cultural hubmoved up 83 ranks during the past two years. Its economy is centered on information technology and older industries including shoes, textiles and food processing.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#14 Melbourne, Australia

Post-recession annual income growth: 4.8%

Post-recession annual employment growth: 3.8%

Melbourne's growth rate was ranked #47 before the recession. It rose to #22 during the recession. It rose to #14 after the recession.

Melbourne's highly diversified economy and its strong economic linkage with East Asian countries has allowed this city to stay relatively stable in its growth.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#13 Bangalore, India

Post-recession annual income growth: 6.3%

Post-recession annual employment growth: 2.6%

Bangalore's growth rate was ranked #7 before the recession. It fell to #9 during the recession. It fell to #13 after the recession.

Known as the Silicon Valley of India, Bangalore is one of three Indian cities that made the list. India's third most populous city is known for its burgeoning IT industry. The city almost tripled its per capita income from 1993-2007.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#12 Mumbai, India

Post-recession annual income growth: 6.4%

Post-recession annual employment growth: 2.8%

Mumbai's growth rate was ranked #24 before the recession. It rose to #19 during the recession. It rose to #12 after the recession.

India's largest and wealthiest city barely felt the recession. In the past two years, it has been lifted by a booming national economy -- but it isn't growing as fast as China's top cities.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#11 Hyderabad, India

Post-recession annual income growth: 7.2%

Post-recession annual employment growth: 2.4%

Hyderabad's growth rate was ranked #15 before the recession. It rose to #14 during the recession. It rose to #11 after the recession.

Hyderabad, also known as Cyberabad due to the growing presence of the IT industry, is another city that barely felt the recession. Income growth comes easy here, where the per capita income in less than $1,000.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#10 Rio de Janeiro, Brazil

Post-recession annual income growth: 6.2%

Post-recession annual employment growth: 3.2%

Rio de Janeiro's growth rate was ranked #100 before the recession. It rose to #28 during the recession. It rose to #10 after the recession.

Rio de Janeiro has the second largest GDP in Brazil and is home to Petrobas and Vale -- two major Brazilian companies -- as well as oil companies, research institutes and communications companies. It will be the first South American city to host the Summer Olympics in 2016.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#9 Manila, Philippines

Post-recession annual income growth: 5.3%

Post-recession annual employment growth: 4.0%

Manila's growth rate was ranked #34 before the recession. It rose to #24 during the recession. It rose to #9 after the recession.

Because of its location, the capital of the Philippines was once recognised as a global city because it was home to Spanish trading ships known as the Manila galleons. Today its harbor continues to serve as the country's main seaport and as an important component of their economy.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#8 Beijing, China

Post-recession annual income growth: 5.4%

Post-recession annual employment growth: 3.9%

Beijing's growth rate was ranked #4 before the recession. It rose to #1 during the recession. It fell to #8 after the recession.

Beijing is one of the four Chinese cities to make the list. The capital city has benefit ted from China's unprecedented level of government spending.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#7 Guangzhou, China

Post-recession annual income growth: 7.4%

Post-recession annual employment growth: 2.5%

Guangzhou's growth rate was ranked #3 before the recession. It rose to #2 during the recession. It fell to #7 after the recession.

Guangzhou's economy, which heavily relies on its status as a key transportation and trading port, was roughly four times larger per capita in 2007 than in 1993. The city is the main manufacturing hub of China's Pearl River Delta -- the country's leading commercial and manufacturing region.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#6 Shanghai, China

Post-recession annual income growth: 7.5%

Post-recession annual employment growth: 3.1%

Shanghai's growth rate was ranked #8 before the recession. It rose to #3 during the recession. It fell to #6 after the recession.

China's largest city has grown from a fishing and textiles town to a global city, leading in industries such as commerce, finance, research and fashion. In 2005 it became the world's largest cargo port.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#5 Santiago, Chile

Post-recession annual income growth: 4.3%

Post-recession annual employment growth: 6.2%

Santiago's growth rate was ranked #41 before the recession. It rose to #38 during the recession. It rose to #5 after the recession.

Santiago was another popular South American destination for capital during the recession. It still is today, and Chile's stock market is soaring toward dangerous highs.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#4 Singapore

Post-recession annual income growth: 6.6%

Post-recession annual employment growth: 4.6%

Singapore's growth rate was ranked #18 before the recession. It fell to #33 during the recession. It rose to #4 after the recession.

Singapore grew its employment more than half in the 14-year period between 1993 and 2007. Singapore didn't experience any loss of employment during the recession and nearly recovered its income losses by 2010.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#3 Lima, Peru

Post-recession annual income growth: 5.6%

Post-recession annual employment growth: 5.7%

Lima's growth rate was ranked #16 before the recession. It rose to #11 during the recession. It rose to #3 after the recession.

Lima was the least hit of all South American metropolitan areas during the recovery period. Its financial sector was seen as having low exposure during the financial crisis and benefited from an inlux of capital. Now Peru is enjoying high prices on its many commodity exports.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#2 Shenzhen, China

Post-recession annual income growth: 5.9%

Post-recession annual employment growth: 5.9%

Shenzhen's growth rate was ranked #1 before the recession. It fell to #4 during the recession. It rose to #2 after the recession.

Shenzhen's growth has been unstoppable. The relatively liberal Chinese city benefits from proximity to Hong Kong. It is home to a booming financial and manufacturing industry.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

#1 Istanbul, Turkey

Post-recession annual income growth: 5.5%

Post-recession annual employment growth: 7.3%

Istanbul's growth rate was ranked #44 before the recession. It fell to #143 during the recession. It rose to #1 after the recession.

After getting crushed by the recession, Istanbul bounced back better than ever. Local employment is growing faster than anywhere in the world.

Data comes from Brookings' Global MetroMonitor. Pre-recession rating includes 1997-2007. Recession rating includes the worst year between 2007-2010. Post-recession rating includes 2009-2010. Rankings include 150 of the world's largest metro areas.

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