Russian cities with populations of 1 million or greater will need at least 100 years to catch up to Moscow’s level of economic development, according to research by the Strelka Consulting Bureau.
The 16 cities contributed almost one-third of Russia’s GDP in 2017, more than half of which came from Moscow, the RBC news website cited the study as saying Monday.
“If Russian cities continue to develop as they did in 2010-2017, then the average [city with a population of] 1 million will need around 100 years to catch up with Moscow in terms of per capita gross product,” Strelka said.
Using gross city product (GCP) per capita to measure the economic disparity, the consulting bureau projected that the cities will reach Moscow's level of development by 2117.
The 16 cities with populations of at least 1 million should increase support for small and medium businesses and attract investment into promising industries within each region, Strelka said.
“We need to start looking at cities as a platform for systemic integrated investment,” RBC quoted Strelka CEO Denis Leontiyev as saying.