World Urban Population (%) WURBAN Economic
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What is World Urban Population (%)?
This indicator tracks the percentage of the global population residing in urban areas. It is a crucial metric for understanding demographic shifts and their economic implications. Economists and policymakers monitor this figure to gauge urbanization trends, which are closely linked to economic development, infrastructure needs, and resource allocation. A rising percentage signals increasing migration to cities, often driven by perceived economic opportunities and improved living standards. This can indicate growing industrialization and a shift from agrarian economies. Conversely, a stable or declining rate might suggest economic stagnation in urban centers or a resurgence of rural development. The calculation typically involves dividing the total urban population by the total global population and multiplying by 100. Changes in the world urban population percentage offer insights into the pace of development, the demand for housing, transportation, and services, and potential challenges related to urban sprawl and environmental sustainability. It is a key input for forecasting economic growth, consumer spending patterns, and the demand for various goods and services.
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