The world is becoming increasingly urbanized, as more people are choosing to live in towns and cities than ever before. The trouble is, most urban areas are unprepared to manage the influx.
Cities around the world face a looming investment crisis that makes them less livable than they should be. The maintenance of vital social and economic infrastructure, not to mention development planning, is being delayed because of a lack of cash. With local governments’ finances burdened by continuously expanding spending commitments, public resources in many cities are highly constrained.