It’s official — Bangalore is the most dynamic city in the world, according to a report by a leading real estate consultancy. So, if you are heading to the city, you will understand why it is so highly ranked.
Take for instance the hospitality sector. A five star hotel in Bangalore is bound to match up to high global standards. There are other aspects about the city that makes it the most dynamic in the world. Here are some reasons why it gets the dynamic tag:
Adapting to technological changes
One of the key parameters of the study was how cites were adapting to changing technology — Bangalore has done rather well on this count, and the city has a huge number of entrepreneurs all starting new firms, apps and services in areas like F&B, retail etc. There is a constant buzz of innovation and enterprise in the city.
Large number of business travellers
Bangalore receives a huge number of business travellers, thanks to the atmosphere of innovation and enterprise. It is also ranked highly as an investment hub, and the greater the opportunity, the larger the footfalls in the city. This has an impact on the hospitality industry as well. A luxury hotel in Bangalore is known to do much better in terms of occupancy than other cities in the country.
Presence of HNIs and city’s GDP
Yet another aspect that makes Bangalore so dynamic is the presence of a large number of HNIs, some of them expats who have chosen to work here, and some of them who visit the city very often. The GDP of Bangalore makes a great contribution to not just the GDP of the state it is the capital of, Karnataka, but also to the country. The city has the maximum number of software firms, and has a large number of IT parks etc. The hotel industry thrives because of the presence of HNIs, corporates and visiting entrepreneurs. The year 2016 turned out to be a good year for the hotel industry, especially for the luxury hotel segment, with higher occupancy rates and also room rates, according to industry estimates. Bangalore is no exception to these figures. In fact, Bangalore saw the highest y-o-y revenue per available room for 2016, according to a report from a leading consultancy focusing on the hotel industry.
Bangalore is also a city that is connected to an international network, in terms of the presence of MNCs, corporate offices of key global giants, R&D centres etc. The city is cosmopolitan, has a high level of literacy, good property scenario, favourable weather, stable socio, economic and political parameters, making it the most dynamic of cities in the world.
Now that you know what to expect from the most dynamic city, we are sure you are packing your bags and making your bookings at a five star hotel in Bangalore for your stay. You are bound to love the city, we assure you!
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