Cities are where innovation, capital and people generate prosperity and advance society. They are where citizens strive to achieve, businesses seize opportunities and drive growth, and governments create the conditions for success. More than half the world's population now lives in urban areas. As a result, cities are under pressure to address accelerating urbanization.

At the same time, cities are increasingly inter-connected by modern communications and widespread migration. City leaders must harness the possibilities of technology and new financial thinking to address critical efficiency reform, modernize urban infrastructure, and provide socially inclusive access to public services. By embracing transformation, they can enhance citizens' quality of life and improve their city's prospects in the international competition for talent and investment.