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Latin American Economy & Business - July 2016 (ISSN 1741-7430)

Region: Urbanisation increases the need for ‘Smart Cities’

According to a report published in July by the Inter American Development Bank (IDB)[1], demographic trends mean that Latin American cities are seeing “one of the most significant processes of population growth ever experienced in the planet”. The proportion of the population living in the region’s cities has rocketed from 42% in 1950 to 80% in 2014 and will rise further to an expected 90% in 2050. About 70% of the region’s GDP is produced in its cities. This trend, coupled with the opportunities created by the revolution in digital technologies, is making the development of ‘Smart Cities’ both possible and necessary, the report says.

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