Inequality in cities around the world is on the rise. According to the United Nations, two-thirds of the world’s urban population lives in cities where income inequality has increased since the 1980s.
In this article, based on a discussion paper published by the Cities Alliance (2015), the authors argue that while cities are widely considered to be important engines of economic growth, more must be done to ensure that growth is inclusive and sustainable.
Key messages include:
- Inequality is growing and there is an urgent need to address it, otherwise many social, economic and environmental ills will follow.
- Any effort to affect equitable economic growth must include job creation in both the formal and informal sectors.
- There are five essential elements that should be a part of any approach to creating equitable economic growth.
- Political will is a necessary foundation for successful efforts to promote inclusive growth.
- An international equitable economic growth initiative focused on cities is needed.
