A city with a strong magnetic pull draws in new residents, visitors and business investment. They are brimming with innovative ideas, have attractive infrastructure and a buzzing culture. These cities attract a specific group of educated, ambitious and energetic young people, coined young wealth creators.
Vanessa Forshaw (nee Langley) and Caroline Haynes are co-authors of KPMG’s Magnet Cities publication. They identified nine cities around the world who have switched their magnetic pull and now attract young wealth creators. A bold experiment and huge risk has resulted in them becoming fast-growing cities with economic growth above national average.
So what can be done to help our cities reinvent themselves and improve their offer? How can they increase their magnetic pull? KPMG cares about New Zealand’s prosperity and our summary of magnet cities has been provided to sharpen the debate in New Zealand and help contribute to solutions.
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