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By Christoph T. MÜLLER, Head of Private Banking, VP Bank (Luxembourg) SA
Increasing importance of cities and urban regions
Cities are facing major challenges. They are experiencing a constant influx of people. The United Nations Organisation estimates that in 30 years’ time two out of every three people will live in cities and regions close to cities. In 2050, 50% more people will live in cities than today. At the same time, especially in industrialised countries, the infrastructure is outdated and not yet at a level to meet the sustainability goals.
Cities are economic, cultural and innovation centers, generating 85% of global economic output. According to the UN, the proportion of the world’s population...
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