These days cities all over the world are trying to market themselves as the place to invest and live in.
A look at the strategies employed by other cities provides valuable insights on how the twin cities can have a make-over. The mandarins in Municipal Corporation of Hyderabad and Hyderabad Urban Development Authority should now get cracking and make Hyderabad a different place.
What does it take to fashion a makeover that will turn a city into an international destination for foreign investors and tourists? Well, if you are in South Africa, you might remodel the entire place as a venue to exhibit art. Cities worldwide are branding themselves to attract trade and investment. Johannesburg, for one, has spent huge funds promoting itself as a business and banking centre. Creative agency Interbrand was selected to re-define Johannesburg as a brand in 2001. Johannesburg’s inner city was converted into one large art gallery, its buildings and bridges posted with giant murals as the revamp got underway.
An audit was conducted to determine how the city presented itself and to understand perceptions of citizens and visitors, better. The official name of the city remains ‘The City of Johannesburg Metropolitan Municipality’. However, the new ‘City of Joburg’ identity will become its consistent public face, meant to symbolise a revamp and improvement of services.
London, on the other hand, chose to set up an official agency to attract foreign direct investment (FDI) for the city. Think London provides free and confidential advice to help international businesses locate and expand in UK’s capital. And now companies from India represent 30% of foreign investment in London, making it the second biggest overseas investor after the US, which accounts for 50%. Is there a lesson in it for us in Hyderabad ?
London City has generated a turnover of $300 billion, making it the largest destination for FDI in Europe. But the Chinese supercity, Shanghai gets more FDI than London. However, branding can run into problems when it is seen as attracting attention away from a neighbouring region. This is not a problem in London though, where the Greater London Area is a region by itself. Neighbouring regions in Britain also realise that taxes generated in London are spent all over UK for development works.
How do we pitch our city as an international destination with an investor-friendly face. The key advantages of the city should be built on. It could be financial capital, the talent pool or connectivity with other parts of the country and the world. Dubai and Shanghai in recent years have been transformed into tourist and trade destinations.
Hyderabad should project its rich heritage and modern cultural mileu as its selling point. Take London’s, which has used its ethnic diversity makes it a global city and contributes to making it more entrepreneurial.’’ Despite all that the harm that the Hyderabad city police and Andhra Pradesh Tourism department is trying to do, Hyderabad does have a decent night life. The numerous pubs, malls and other public places like the Imax theatre and Eat Street on the Necklace Road add a dash of colour and zest to our lives. The city enjoys the image of a safe place, specially for women who get back at odd hours in the night.
Let us, the citizens in the city form a not for profit organisation which can pitch the city into higher league. Let us give it a name, get some big names on board and drive this venture ahead. let us make our city the best place to invest and live in.
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