Markets
The 8 Ways Urban Demographics are Changing
The 8 Ways Urban Demographics are Changing
Cities are what keep the global economic machine humming.
Over 80% of the world’s economic output is derived from activities in cities – and more specifically, it’s estimated that 60% of GDP growth occurs in just the top 600 urban centers.
Given the above, it’s fair to say that the destiny of humankind is directly linked to what happens in major cities. Further, how urbanization plays out over time could end up having a significant ripple effect on the economy, and we should pay close attention to such trends.
Urbanization 2.0
Today’s infographic comes to us from Raconteur, and it showcases eight different ways that urban demographics are evolving.
Below we will summarize the changes, along with potential impacts on the economy:
1. A Higher Percentage of Urban Dwellers
Between 1950 and 2018, we went from 30% to 55% of the world’s population living in cities. This has been driven largely by today’s middle and high income economies in places like North America, South America, Europe, and Japan.
The next stage of urbanization will see us move to 68% – more than two-thirds of the world’s population – living in these urban conglomerations. It will be driven by countries in developing markets, creating a potent investing megatrend along the way.
2. The Countries Driving Growth
It’s estimated that three countries will combine for 35% of all urban population growth.
Rank | Country | Growth in Urban Population (2018-2050) | % of Global Urban Growth |
---|---|---|---|
#1 | India | 416 million people | 17% |
#2 | China | 255 million people | 10% |
#3 | Nigeria | 189 million people | 8% |
World | 860 million people | 35% |
In total, there will be 2.5 billion more urban dwellers in 2050 than there are today. Many of these people will experience rising incomes in cities, increasing the global middle class to an unprecedented size.
3. Peaking Rural Populations
On the flipside, it appears the world’s rural population has nearly flatlined, with anticipation that it will peak in absolute terms in the next couple of years. Rural populations have been slowly growing since 1950 until this point.
4. The Rise of Megacities
There will be 43 megacities by the year 2050, which is more than quadruple the amount that existed back in 1950.
The changing geography of the world’s megacities will be one of the major forces that shapes the future of the global economy and accompanying investment trends.
5. New Population Centers
By 2050, more than 70% of the world’s urban population will live in Asia or Africa. Meanwhile, North America and Europe will combine for closer to 15% of that total.
6. De-Urbanization
The role of de-urbanization is often downplayed or forgot about when discussing urban demographics, but it is an interesting issue.
Factors such as falling fertility rates, economic contraction, and natural disasters are actually shrinking the size of some cities. In fact, McKinsey predicts that 17% of cities in developed regions will see a drop in population between 2015-2025.
7. Disparities in Urban Growth
The rate for urban population growth is actually trending down across all types of economies – however, these rates come from very different starting points.
High income countries are currently averaging growth of less than 1% per year, and this will continue to decline to below 0.5% per year by 2050. Over the same time period, low income nations will go from 4% to 3% per year.
8. Changes in Average Age
The age distributions in large cities within developed nations will begin to skew older, something we’ve shown previously when looking at the median age of every continent.
The biggest impact here may be felt on dependency ratios in the workforce. With a smaller pipeline of new workforce entrants and a burgeoning population of seniors, this changing ratio is one of the most significant stories impacting urban demographics.
The Most Popular TV Brands in the U.S.
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
Every year, over 40 million TVs are sold in the U.S., making the device a flagship technology in many American homes.
In this graphic, we illustrate the most popular TV brands in the U.S. based on a 2023 Statista survey of over 8,000 American adults. Respondents were asked, ‘What brand is your main TV?’
Korean Brands Dominate the U.S. TV Market
Samsung and LG combined account for 52% of the TV market share. Interestingly, the two firms have a partnership in place, with LG supplying OLED TV panels to Samsung since 2023.
TV Brand | Country | % of Respondents |
---|---|---|
Samsung | 🇰🇷 South Korea | 33 |
LG | 🇰🇷 South Korea | 19 |
Vizio | 🇺🇸 U.S. | 11 |
Sony | 🇯🇵 Japan | 7 |
Hisense | 🇨🇳 China | 5 |
TCL | 🇨🇳 China | 5 |
Philips | 🇳🇱 Netherlands | 3 |
Insignia | 🇺🇸 U.S. | 2 |
Sanyo | 🇯🇵 Japan | 2 |
Toshiba | 🇯🇵 Japan | 2 |
Sharp | 🇯🇵 Japan | 1 |
Other or don't know | -- | 9 |
Vizio, a California-based company, holds the third position, but its TVs aren’t manufactured in the United States. Rather, they are produced by Taiwanese companies AmTran Technology and Foxconn, the latter being a major manufacturer of the iPhone.
Further down the ranking is Insignia, owned by U.S. retailer Best Buy. While it’s uncertain who produces Insignia TVs, some speculate they’re made by China’s Hisense.
Despite holding the largest market share, South Korea ranks behind Japan in terms of the number of companies among the top brands. Japan boasts four brands on our list, with Sony ranked 4th overall, capturing 7% of the responses.
Growing Market
The U.S. is witnessing a surge in demand for high-definition televisions, driven by consumers’ desire for a more immersive home viewing experience.
Globally, the U.S. leads in revenue generation, with the American TV market projected to generate $18.2 billion in revenue in 2024.
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