The world’s growing cities demand innovation. Across the globe, city governments are looking for new approaches to energy, housing, education, employment, technology, and their built environments in order to support the changing needs of their residents. As we recently reported to the Mayor of Shanghai and the International Business Leaders Advisory Council, secure public-private partnerships (P3s) represent one potential solution for cities who seek to evolve.
New AIG research indicates that residents of six major cities see different areas of opportunity for development and view P3s as appropriate for different work. As public interests may influence both the direction and impact of P3 projects, partners in these projects may consider integrating the perspectives of local residents into the ideation and planning phases.
AIG’s study of residents of New York City, Atlanta, London, Shanghai, Osaka, and Seoul illuminate some of the issues that are priorities for residents. For example, residents of all six cities view their cities as strong in security and emergency services. Conversely, they all feel that Housing is both highly important and needs improvement. However, only residents of London and Seoul see P3s as appropriate for helping their city address its housing issues.
In recent years, successful P3s have helped to expand Beijing’s network of high-speed railwaysi and train New York City residents for jobs in leading tech companies.ii To build partnerships that can support sustainable development in cities around the world, AIG will continue to generate insights for evolution, resilience, and growth. To learn more about how insurance help can activate your partnership for sustainable development, click here.
i Thieriot, Hubert with Carlos Dominguez. “Public-Private Partnerships in China: On 2014 as a landmark year with past and future challenges.” The International Institute for Sustainable Development, Apr. 2015. https://www.iisd.org/sites/default/files/publications/public-private-partnerships-china.pdf. Accessed 10 Nov. 2016.
ii “Mayor Bill de Blasio Announces NYC Tech Talent Pipeline Industry Partners and Commitments to Strengthen City’s Tech Workforce.” The City of New York: Office of the Mayor, 12 Feb. 2015. http://www1.nyc.gov/office-of-the-mayor/news/114-15/mayor-bill-de-blasio-nyc-tech-talent-pipeline-industry-partners-commitments-to. Accessed 10 Nov. 2017.