POST-RECESSION VILNIUS SHOWS SWIFT RECOVERY
Lithuania’s capital Vilnius was hit hard by the global recession, but it has been showing a very swift recovery, according to a new study “Global Metro Monitor: The Path to Economic Recovery” from the Brookings Institution in collaboration with London School of Economics and Political Science as well as Deutsche Bank.
In the pre-recession period from 1993 to 2007, Vilnius is listed very high - as the 13th metro area in terms of economic performance out of the top 150 metro areas. However, it went down sharply to the No. 147 spot during the recession (2007-2009). But since the start of the recovery (2009-2010), Vilnius has jumped up to No. 118 in the metro performance ranking, appearing in-between Cape Town of South Africa (117) and Glasgow of Scotland, UK (119). Lithuania’s capital is recovering faster than neighbouring Riga of Latvia (144) and Tallinn of Estonia (138).
To see Vilnius‘ economic performance profile follow here.
World’s Top 5 post-recession metros are Istanbul (Turkey), Shenzhen (China), Lima (Peru), Singapore and Santiago (Chile).
The study “Global Metro Monitor: The Path to Economic Recovery,” looks at 150 post-recession global metropolitan economies located in 53 countries, from 1993 to 2010. The study found that the global economy is led by metropolitan economies which accounted for just under 12 % of global population, but generated roughly 46 % of the world gross domestic product in 2007. The Global Metro Monitor focuses on the following data: Gross Value Added, employment and population from 1993 to 2010.
Download the full “Global Metro Monitor: The Path to Economic Recovery” study here.
