Bangkok ranked the poorest of 300 cities for economic performances

[webfact]

Bangkok ranked the poorest of 300 cities for economic performances



BANGKOK: -- The Brookings Institution and JP Morgan Chase ranked 300 major cities worldwide for economic performance last year with Bangkok coming at the last of the ranking.

Macau, the Chinese territory known for casino gambling, finished No 1, outperforming the rest of the world’s major cities economically, according to its report on economic performance ranking 2013-2014.

The report said cities in the developing world, especially China, dominated the top of the annual economic rankings of 300 cities worldwide.

But with one exception, it said Bangkok, Thailand, performed poorest of all 300 cities surveyed as its economy was wrecked by political strife.

Kuala Lumpur, Ho Chi Minh City, Jakarta, Singapore, all outperformed Bangkok coming at 19, 23, 34, 61 respectively.

Macau has enjoyed a tourism boom, with gamblers coming to bet at more than 30 casinos, including the Venetian Macau, the world’s largest.

Cities in wealthy, developed countries tended to lag behind.

Though most of the cities surveyed around the world have recovered from the Great Recession, 65 percent of European and 57 percent of North American cities have not, according to the study, which ranks cities by growth in employment and in economic output per person. Some highlights:

Joseph Parilla, a Brookings research analyst who co-wrote the report, said he was surprised by the “incredible differentiation within what are considered monolithic economic blocs.” Latin American cities, for instance, mostly sputtered. But Medellin, Colombia, and Lima, Peru, both broke into the top 50.

Cities in wealthy countries tended to perform poorly. But U.S. and British cities showed improvement. Three U.S. cities — Austin and Houston, Texas, and Raleigh, North Carolina — cracked the top 50. In the United Kingdom, London came in No. 26, Manchester No. 60.

The United States and Britain have begun to pick up economic momentum 5½ years after the recession ended.

“In developed economies like North America and Western Europe, cities like London and Houston are flying high, while others like Rotterdam and Montreal are struggling,” Parilla said.

The report said 27 of the 50 top-performing cities were Chinese. Increasingly, strong growth occurred in the traditionally underdeveloped cities of China’s interior, rather than its booming coastal cities. Land-locked Changsha, for instance, enjoyed economic growth per person of 8.6 percent last year and wound up No. 15 in the overall rankings.

The coastal manufacturing powerhouse of Dongguan, next door to Hong Kong, registered per-capita economic growth of just 5.2 percent (unimpressive by Chinese standards) and finished No. 70. Companies have begun to move inland as the cost of labor and land rises on the Chinese coast. And the Chinese government has invested heavily on infrastructure in the interior.

The 18 cities worldwide that specialized in producing commodities such as oil registered the highest rates of growth in economic output per person (2.6 percent) and employment (1.9 percent).

“The recent rise in oil and gas production in North America partly explains the success of metropolitan areas like Calgary, Denver, Houston, and Tulsa, which are epicenters of the region’s shale revolution,” the report said.

Next year’s rankings may be different. Oil prices have plunged to less than $48 a barrel from $107 a barrel last June, jeopardising the prospects of cities that had been riding the energy boom.

Source: http://englishnews.thaipbs.or.th/bangkok-ranked-poorest-300-cities-economic-performances


-- Thai PBS 2015-01-23

[Morakot]

the study, which ranks cities by growth in employment and in economic output per person

We assume this is factors the registered population and not the actual...

But than again 'growth in employment' is a bit meaningless if you have about 0.1% unemployment.

[Alan Hall]

So Thailand number 1 again right? wooo hooo maybe TAT could use this information

[bapoboy]

Hello can I meet some of the admin in real ? From this site ofcourse I would like to have a speak...

Magnus pedersen. Norway

[Time Traveller]

the study, which ranks cities by growth in employment and in economic output per person

We assume this is factors the registered population and not the actual...

But than again 'growth in employment' is a bit meaningless if you have about 0.1% unemployment.

It ranks growth in employed people not the rate. No matter whether unemployment is 0.1% or 10%, if there is less people working now than the previous period, then the city is not growing. So it is relevent.

Edited January 23, 2015 by Time Traveller

[tullynagardy]

Happiness is being returned to the people which is far more important than economic wellbeing.

How many other of those countries had the world cup for free eh??

[Fiddlesticks]

TAT ANNOUNCEMENT: Economic growth among the cities ranked 300 through 500 saw Bangkok at the top of the list! Come to Thailand and see how innovation and happiness have propelled Bangkok the such elite status.

[trainman34014]

Tomorrow we will be told by some plick in some Thai ministry that somebody was looking at the list upside down and that Bangkok is actually top !!

[LuckyLew]

Good job Bangkok, worst in economic performance .... but they are # 1 in facebook usage

[trogers]

Seems the top cities are churning with massive corruption money and government debts...

[Beng]

Tomorrow we will be told by some plick in some Thai ministry that somebody was looking at the list upside down and that Bangkok is actually top !!

[wolf5370]

This is growth rather than might, so seeing any US, UK or Euro zone cities on it is great news after the global crisis. It means people are being hired again (out performing job loses) and those extra people are making more money per head!

[BillyBobThai]

But how can this be? Thailand is the huba huba hub of all things good and great.

[RT555]

The money goes into the pockets 1st, because Thai's think of themselves first and the welfare of the future last. Their outlook is that they cannot even see past their noses.

[EyesWideOpen]

Good job Bangkok, worst in economic performance .... but they are # 1 in facebook usage

Perhaps a correlation ??

[IMA_FARANG]

This is an example of poorly defined "statistics".

Precisely what is meant by "economic performance"?

The term is so vague and poorly defined it could mean anything.

For that reason it is meaningless and pointless as an indicator of anything.

As the saying goes; "There are three kinds of lies; Lies, Outright Lies, and Statistics".

[Time Traveller]

This is an example of poorly defined "statistics".

Precisely what is meant by "economic performance"?

The term is so vague and poorly defined it could mean anything.

For that reason it is meaningless and pointless as an indicator of anything.

As the saying goes; "There are three kinds of lies; Lies, Outright Lies, and Statistics".

Vague?....read the report. It's very simple how they calculated it. In fact it can't get more easy to calculate.

Economic performance = growth in GDP per capita + growth in employment (i.e number of people employed)

As such Bangkok came last with a -0.5% change in real GDP per capita and a -1.7% fall in total employed people.

Edited January 24, 2015 by Time Traveller

[mikiea]

This is an example of poorly defined "statistics".

Precisely what is meant by "economic performance"?

The term is so vague and poorly defined it could mean anything.

For that reason it is meaningless and pointless as an indicator of anything.

As the saying goes; "There are three kinds of lies; Lies, Outright Lies, and Statistics".

wa wa wa waaaa waa wawawa :-)

[Gweiloman]

Finally, a statistic that Thailand can be proud of

[trogers]

Tokyo would have been the top city of this list in 1989, before the start of Japan's lost decades.

Growing GDP and employment are not measures of health.

[rickirs]

Bangkok is the city of the 300 led by undefiable Spartan General Prayuth !

[attrayant]

A knock-out for Thailand, but don't worry. By applying the principles of the sufficiency economy, The country will be back on its knees in no time.