Think European cities since 2007
Over a decade has passed since markets peaked in 2007. The 10-year period had no shortage of economic events including a once-in-a-century Global Financial Crisis (GFC) followed by the Great Recession and the Eurozone crisis, as well as radical monetary policies which had never been tried before. As the recovery took hold over the past couple of years, new cracks appeared in the form of Brexit and a change of direction in the United States’ global economic and trade policy.
To keep this report of a retrospective evaluation of cities simple, we have used city GDP growth as a benchmark. We stress that the success and resilience of a city depends on a lot more than just GDP growth, and that 10 years is too short a period to pass judgement on a city’s future. In fact, our analysis confirms that these single factors are only one piece of a much larger puzzle.
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