Hyderabad to overtake Tokyo, Shanghai: Oxford Economics

According to a report by Oxford Economics experts, Hyderabad city will surpass many cities in the world in terms of economic growth this year. He said that it will achieve economic growth beyond the cities of Tokyo, Shanghai, Bangkok, Beijing and Hong Kong. Hyderabad is expected to beat many other cities in Asia Pacific (APAC). While many cities in the world are facing tough conditions this year, it has been revealed that Hyderabad, the capital of Telangana, is booming in terms of economic growth. Along with Hyderabad, another city of South India Bangalore is also making good progress, the report said.

IT and communication sectors are major sources of income for the cities of Hyderabad and Bangalore. Both cities have seen significant growth in these sectors this year. He explained that while all the major cities of the world are in decline due to ups and downs in the economic system, the cities of Bangalore and Hyderabad have stood up to this situation. These cities are expected to grow by over 6 percent in the financial year 2022-23.

Giant companies queuing up.. record in office space absorption
Hyderabad, which is growing as a cosmopolitan city, is making significant progress in many areas that have opportunities for global trade. It is also at the forefront of attracting investments. All the world’s leading IT and e-commerce companies have already expanded their operations in Hyderabad. Many companies have the largest offices in the world in Bhagyanagar. The team led by IT and Industries Minister KTR.. is excelling in attracting investments to Telangana.

‘Anarac Property Consultants India’ has already said in its report that Hyderabad has made significant progress in office space absorption. Hyderabad overtook Bangalore in the new office space absorption segment in the first half of FY 2022-23.

In the first half of the financial year 2022-23, 8.2 million square feet of new office space was registered in the city of Hyderabad. Among the top seven cities in the world in this category, Hyderabad is at the top with a share of 34 percent. It was followed by Bangalore (26%) and the national capital Delhi (21%).

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Oxford Economics is an independent global economic forecasting and econometric analysis firm. The organization has 300 economists and analysts worldwide.

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