65 percent of Latin America’s economic growth to 2025 will occur in those large cities, and they’ll contribute 1.5 times more to global growth than large These trends could easily lead the region’s cities to declare victory.īut the needs, and the opportunities, are immense. McKinsey Global Institute research has found that these large cities will only get more important. Most of the action is taking place in 198 large cities, home to 260 million people and $3.6 trillion in GDP. That makes Latin America the most urbanized region in the world after North America. Now, four out of five make their lives in urban settings. It is not a coincidence that the Inter-American Development Bank has launched a Emerging and Sustainable Cities program and that Latin America already absorbs more World Bank urban development lending than any other region.īack in the early 1960s, less than half of Latin Americans lived in cities. Latin America’s progress over the coming years and decades will turn on what happens in the region’s cities. What has changed most in the last 50 years is the playing field: from mostly rural to mostly urban. Over the past five decades, the region made significant progress in some of these areas and struggled in others. The effort aimed to boost Latin American income, democracy, literacy, land reform, price stability, income equality, and economic and social planning. Kennedy and a group of Latin American presidents were assessing their early progress when they marked the first anniversary of the signing of the Alliance for Progress. By Andres Cadena, Mike Kerlin, Jaana Remes, Alejandra Restrepo, and Henry Ritchieįifty years ago next month, John F.
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