There are lots of reasons to envy residents of Northern Europe. Each day they get to take in raw, dramatic landscapes, stunning architecture and world-class shopping.
But, more important, they know a thing or two about health and wellness.
Forbes.com has found that the region is home to some of the world's healthiest countries, including top-ranking Iceland, Sweden and Finland.
Others that fared well include Germany, Switzerland, Australia, Denmark, Canada, Austria and the Netherlands.
"Historically, these countries had an ethic of having more of a nationalized health care system," says Kate Schecter, a program officer for the American International Health Alliance, a nonprofit that works to advance global health by helping nations with limited resources build sustainable infrastructure. "There's this mentality that health care should be a given right for citizens."
Despite the fact that an estimated 47 million Americans lack health insurance, the U.S . ranked 11. Rounding out the list, were Israel, the Czech Republic, Spain and France.
Behind The Numbers
To determine our list of the healthiest places to live in the world, Forbes.com looked at the latest available health and environmental statistics for every nation, from sources such as the World Health Organization, the World Bank and the UN.
But due to incomplete data, we ranked only the 138 nations with statistics in every measure. That's why you don't see countries such as Monaco, Norway, Malta, Belgium, Luxembourg, New Zealand, Ireland and Andorra--all of which had a shot of cracking the top 15 were they not missing information.
The statistics we examined included estimated air pollution in world cities; the percentage of a country's population with access to improved drinking water and sanitation; infant mortality rates; the rate of prevalence of tuberculosis; the density of physicians--generalists and specialists--per 1,000 people; undernourishment rates; and healthy life expectancies for men.
Beyond high marks for drinking water, sanitation and nourishment, which many countries achieved, Iceland and Sweden had some of the lowest levels of air pollution, infant mortality and rates of tuberculosis prevalence. They also both had the highest healthy life expectancies for men: 72 years.
Got a health concern? Weigh in. Add your thoughts in the Reader Comments section below and we'll try to address it in an upcoming story.
Healthy life expectancy statistics, in particular, say a lot about the welfare of a country's inhabitants, says Yohannes Kinfu, a statistician for the World Health Organization. Those nations with the highest numbers tend also to have high gross domestic products, as well as accessible health care systems and lower rates of infectious diseases, such as HIV/AIDS.
Research has shown that long-term exposure to air pollution can affect lung function and lead to premature death. Other nations with estimated low particulate matter concentrations, according to the World Bank, include France and Australia.
Countries' success in combating pollution is likely due to a mix of policies addressing the problem, enforcement of standards and the use of clean fuel, says Kiran Pandey, a senior environmental economist for the Global Environment Facility, an organization affiliated with the World Bank, and an author of the research. But some places, such as those located along coastlines, are simply luckier than others, since crosswinds can dilute air pollution, Pandey says.
Low infant mortality rates are indications of socioeconomic factors, such as household incomes, which can influence the kind of nutrition and health care a child receives and whether a family is knowledgeable about protection against infection, Kinfu says. The Czech Republic also had one of the world's lowest infant mortality rates.
And while a high number of doctors located in an area might not necessarily mean its residents are healthy, due to questions of access, it's generally a positive sign. Israel has a relatively high doctor density rate, according to the World Health Organization's World Health Statistics 2007.
While the average resident of any of these countries might take for granted or pay little attention to something like access to health care, these factors make a healthy nation, says Jen Kates, vice president and director of HIV/AIDS Policy for the Kaiser Family Foundation, a nonprofit, private foundation focused on major U.S. health care concerns, as well as global health.
"Everyone," Kates says, "needs to be aware that how we provide health care to people in a country is a critical issue."
1. Iceland
Icelanders enjoy one of the world's highest healthy life expectancies (72 for men and 74 for women), giving them plenty of time with the country's mountains, glaciers, volcanoes, waterfalls and coastal lands. The country is also one of the world's least polluted. Ensuring Iceland’s top position is the country’s TB prevalence (2.2 per 100,000 people) and infant mortality rate (two deaths per 1,000 live births), both the world’s lowest. The country also has one of the highest physician densities, 3.62 per 1,000 people.
2. Sweden
Sweden's strong environmental policies helped it land the No. 2 spot on our list. Sweden's air is clean enough to place the country in the top three. Its infant mortality rate, three deaths per 1,000 live births, and TB prevalence, 4.6 per 100,000 people, are the lowest in the world. Keeping the country from first place is its physician density (3.28 physicians per 1,000 people), relatively high worldwide but lower than the top-spot country, Iceland.
3. Finland
Thirty years ago, this low-polluting country had the highest death rate from heart disease for men (around five deaths per 1,000). This drove local governments to encourage healthy living. Fruit and vegetable intake more than doubled since then and the number of smokers has dwindled. The death rate from heart disease is now down to one, on average, for the region. The country also has one of the world’s lowest infant mortality rates, or three deaths per 1,000 live births, and a low TB prevalence, or 4.8 per 100,000 people.
4. Germany
In Germany there is no waiting for appointments, no need for referrals to see a specialist and, until recently, you didn’t even pay for your taxi ride to the hospital. All this plus state of the art facilities come at a high price. The German health care system, one of the best in the world, is also one of the most expensive. The country’s total expenditure on health is 10.6 % of its GDP and pays for one of the highest physician densities on our list, 3.37 physicians per 1,000 people. Germany’s clean air solidified its position in the top
5. Switzerland
Switzerland spends over 11 % of its GDP on universal health coverage, the second-highest health spending per capita of all the countries considered. It has one of the world’s highest healthy life expectancies, or 71 for men and 75 for women. Its physician density, 3.61 per 1,000 members of the population, is also one of the highest on the list. Preventing the country from ranking higher is its air pollution estimate, the highest of the countries in the top five.
6. Australia
Australia's health care system is one of the best in the world. Got a less than squeaky-clean medical history, numerous past claims or just plain old age? No worries, mate! Down under, insurance companies are required to charge policyholders the same premiums regardless of one's status or past. Australia also received high marks for its air, among the world’s cleanest. Keeping Australia from making into the top five is its TB prevalence: 5.9 per 100,000 people.
7. Denmark
Danes pay between 42% and 59% of their incomes in taxes; about 8% of taxes goes to pay for the country’s universal health care coverage. Sadly, the Danish health care system isn’t super efficient. Long waits to see a doctor are common. The country’s physician density, 2.93 per 1,000 people, is one of the lowest on the list. Preventing the country from ranking higher but solidly placing it in the top 10 is the country’s healthy life expectancy, or 69 for males and 71 for females.
8. Canada
The Great White North has the list's lowest number of doctors per capita, or 2.1 for every 1,000. Still, Canadians enjoy one of the world's longest life expectancies and one of the lowest TB rates, or 3.6 per 100,000 people. A relatively high infant mortality rate, 5 deaths per 1,000 live births, also lands Canada in spot eight.
9. Austria
Austria’s ranking was negatively affected by the fumes and smog polluting its air. The country’s TB prevalence, 8.8 per 100,000 people, also kept the country from scoring higher. Austria did have a good infant mortality rate (4 deaths per 1,000 live births) and physician density (3.38 per 1,000 people) solidifying its position in the top 10.
10. Netherlands
Though the Netherlands is thought by many to offer one of the world's highest standards of living, the country failed to crack the list's top five. Its ranking was adversely affected by high pollution rates. The highly urbanized, densely populated nation suffers from water, air and soil contamination. Working in its favor, the country has a low TB rate, or 5.4 for every 100,000 people. The country’s healthy life expectancy, 70 for men and 73 for women, is average for the countries on the list.
11. United States
The U.S. spends over 15% of its gross domestic product on health care--with little to show for it. In 2006, almost 16% of the population lacked health insurance. Still, of the 15 countries on the list the U.S came out on top when measuring infant mortality rate. The country also has the second-highest healthy life expectancy. What's more, air pollution is relatively low, and the U.S. boasts one of the world's lowest TB rates.
12. Israel
Plagued by respiratory problems or concerned about clean air? Steer clear of Israel. It’s got one of the highest levels of air pollution of the countries on our list. You won’t be lacking vitamin D in this sunny country, however; it's one of the world's leaders in solar energy use. Also working for it: the list’s highest physician density rate, or 3.37 for every 1,000 people. Israel’s healthy life expectancy stood at 70 for males and 72 for females, average for the countries on our list.
13. Czech Republic
The Czech Republic has one of the list’s lowest healthy life expectancies--66 for men and 71 for women. The country’s less than stellar sanitation coverage and its TB prevalence rate, 10.8 per 100,000 people, prevented a higher ranking. Working in its favor? One of the world’s lowest infant mortality rates. In 1990, the number of deaths per 1,000 live births stood at 13. It's now 3.
14. Spain
The country's tuberculosis rate is the highest of all 15 countries, at 21.7 for every 100,000 people. Spain also has one of the highest air pollution estimates on the list. Its physician density, healthy life expectancy and infant mortality rate are average when compared with other countries on the list.
15. France
A stellar health care system and clean air landed France on the list. Working against it: the worst wastewater treatment standards of the top 15. Its tuberculosis rate--11 cases per 100,000 people, one of the highest on the list--also held it back. But there's good news for the country's chronically ill; France's high physician density measurement: 3.37 per 1,000 people.
Saturday, November 14, 2009
World's Best Countries for IT
World's Best Countries for IT
U.S.: Top of the Heap—For Now
The U.S. creates the most supportive environment in the world for information technology firms, according to a study by the Economist Intelligence Unit conducted for the Business Software Alliance. The world's largest economy still does the best job in incubating innovative startups and developing top engineering talent, the study finds. Yet the U.S. is slipping.
The study ranks 66 countries by IT competitiveness, measuring six factors: the supply of skilled workers; the strength of intellectual property laws; the openness of the economy; the development of a tech-friendly infrastructure; government leadership; and an innovation-friendly culture. The countries that perform well in all six, the study found, are those with IT sectors that contribute more than 5% to a nation's gross domestic product.
The most important of the six is a country's research and development environment, measured by the number of IT-related patent registrations; this makes up 25% of a country’s score. IT infrastructure—the availability of broadband, secure servers, computer use, and market spending on hardware—accounted for 20%. Another 20% of the score is devoted to human capital, which measured the number of university students as a percentage of the college-aged population; enrollment in science programs; tech employment as a percentage of the total workforce; and the school system’s ability to train tech workers with business skills.
*New to Index
Rank 1 : U.S
Last Year's Rank: 1
Score: 74.6
The study ranks 66 countries by IT competitiveness, measuring six factors: the supply of skilled workers; the strength of intellectual property laws; the openness of the economy; the development of a tech-friendly infrastructure; government leadership; and an innovation-friendly culture. The countries that perform well in all six, the study found, are those with IT sectors that contribute more than 5% to a nation's gross domestic product.
The most important of the six is a country's research and development environment, measured by the number of IT-related patent registrations; this makes up 25% of a country’s score. IT infrastructure—the availability of broadband, secure servers, computer use, and market spending on hardware—accounted for 20%. Another 20% of the score is devoted to human capital, which measured the number of university students as a percentage of the college-aged population; enrollment in science programs; tech employment as a percentage of the total workforce; and the school system’s ability to train tech workers with business skills.
*New to Index
Rank 1 : U.S
Last Year's Rank: 1
Score: 74.6
The U.S. tops the index thanks to its role as a pacesetter in encouraging innovation and developing talent, but Europe and Asia are narrowing the gap. Some of the world's largest tech companies—from computer maker Hewlett-Packard (HPQ) to chipmaker Intel (INTC) to Internet leader Google (GOOG)—are based in the U.S.
Rank 2 : Taiwan
Last Year's Rank: 6
Score: 69.2
Taiwan rises to second place mostly on the strength of its R&D environment and on its ability to nurture technology talent.
Rank 3 : Britain
Last Year's Rank: 4
Score: 67.2
Britain is second in the world behind Norway in support for IT industry development and leads Western Europe overall. Telecom giants Vodafone (VOD) and British Telecom (BT) are based in London.
Rank 4 : Sweden
Last Year's Rank: 7Score: 66.0
Sweden made improvements in its business environment and IT infrastructure; the country is also a prolific generator of patents.
Rank 5 : Denmark
Last Year's Rank: 8
Score: 65.2
This northern European country rose three places on improvements in human capital and IT infrastructure.
Rank 6 : Canada
Last Year's Rank: 9
Score: 64.4
Canada scores high on most metrics, though it lags on R&D. The country improved three positions mostly on improvements in the area of human capital.
Rank 7 : Australia
Last Year's Rank: 5
Score: 64.1
Second only to Taiwan overall in the APAC region, Australia fell two positions in part because of its low score on R&D, where it ranks 20th.
Rank 8 : South Korea
Last Year's Rank: 3
Score: 64.1
Home to such tech heavyweights as LG Electronics, South Korea scores high for its business environment, and third in the world for support of IT industry. The country ranks second only to the U.S. in the area of human capital.
Rank 9 : Singapore
Last Year's Rank: 11
Score: 63.4
Singapore is second only to the U.S. in terms of development of human capital, and it ranks third in IT industry development; the city-state's legal environment ranks 15th.
Rank 10 : The Netherlands
Last Year's Rank: 12
Score: 62.7
Home to electronics giant Philips Electronics, the Netherlands jumped two places from last year largely on the strength of its business environment and high-quality infrastructure; it scores low on R&D.
The World's Top Financial Centers
A biannual British survey serves up no surprises. In spite of recent crises, New York and London are still on top of the heap
The keys to becoming a top global financial center are pretty straightforward. Ready access to capital, a solid regulatory regime, and a large pool of professional talent all underpin any city's attempt to break into the world's money elite. That's the finding of the latest Global Financial Centers Index, a biannual survey undertaken by British consultancy Z/Yen Group for the City of London.
Not surprisingly, heavy hitters such as London, New York, and Zurich dominate the top 10. Despite the fallout from the global credit crunch, these financial centers still score high on everything from professional services to standard of living, relegating upstarts from the Middle East and Asia to the second tier of the world's most important economic hubs.
"Once a city has been established, it's hard to break its hold on financial markets," says Geoffrey Wood, professor of economics at City University's Cass Business School in London. "You throw regulatory stability and respect for commercial law into the mix and it's no wonder cities like London remain ahead of the rest."
Truly Global Financial Centers
To figure out where each city ranked, Z/Yen Group surveyed more than 1,200 professionals in the financial-services industry and combined their responses with other metrics such as cities' average salaries and the amount in corporate taxes companies have to fork over. Since the last report, published in September, 2007, the top 10 financial centers have remained roughly unchanged, with Tokyo and Sydney swapping places to finish ninth and 10th, respectively.
Leading the pack are London and New York—the only truly global financial centers in the ranking—whose liquid financial markets, educated workforces, and business-friendly legal environments check all the boxes for what it means to be an economic hub.
Recent uncertainty related to the British government's response (BusinessWeek.com, 2/17/08) to the collapse of mortgage lender Northern Rock (NRK.L) and proposed tax increases on foreign workers (BusinessWeek.com, 2/12/08) has dented investor confidence in Europe's leading financial center. This year, for the first time, London's banking sector was rated below its New York counterpart, which helped more than halve the city's overall lead.The keys to becoming a top global financial center are pretty straightforward. Ready access to capital, a solid regulatory regime, and a large pool of professional talent all underpin any city's attempt to break into the world's money elite. That's the finding of the latest Global Financial Centers Index, a biannual survey undertaken by British consultancy Z/Yen Group for the City of London.
Not surprisingly, heavy hitters such as London, New York, and Zurich dominate the top 10. Despite the fallout from the global credit crunch, these financial centers still score high on everything from professional services to standard of living, relegating upstarts from the Middle East and Asia to the second tier of the world's most important economic hubs.
"Once a city has been established, it's hard to break its hold on financial markets," says Geoffrey Wood, professor of economics at City University's Cass Business School in London. "You throw regulatory stability and respect for commercial law into the mix and it's no wonder cities like London remain ahead of the rest."
Truly Global Financial Centers
To figure out where each city ranked, Z/Yen Group surveyed more than 1,200 professionals in the financial-services industry and combined their responses with other metrics such as cities' average salaries and the amount in corporate taxes companies have to fork over. Since the last report, published in September, 2007, the top 10 financial centers have remained roughly unchanged, with Tokyo and Sydney swapping places to finish ninth and 10th, respectively.
Leading the pack are London and New York—the only truly global financial centers in the ranking—whose liquid financial markets, educated workforces, and business-friendly legal environments check all the boxes for what it means to be an economic hub.
Political Stability Immensely Important
Not that New York gets away scot-free. The city's central role in the credit crunch, coupled with the added regulatory burden of the Sarbanes-Oxley Act, caused the U.S. financial capital to lose points in the most recent index. In fact, Washington consultancy The Santangelo Group reckons the U.S. has lost more than $30 billion in financial business due to the increase in government regulation.
Further down the ranking, the triple play of capital, regulations, and talent helps explain why some tiny tax havens, such as Jersey, the Cayman Islands, and the Isle of Man, outstrip larger cities like Shanghai, Mumbai, and Johannesburg in the league tables. City University's Wood posits these small places have bested some of the world's largest cities because, "Political stability and legal certainty are immensely important if you're looking to create a world-class financial center," he says.
To be sure, Western Europe and North America face plenty of competition in finance. Asian stalwarts Hong Kong and Singapore ranked third and fourth, respectively, in the latest index, while up-and-coming Chinese powerhouses Shanghai and Beijing posted strong gains in both banking regulation and overall investor confidence.
Old-Timers Won't Give Up Without a Fight
Mark Yeandle, Z/Yen Group's associate director and author of the survey, believes the growing pool of capital associated with emerging markets means these financial centers will only grow in prominence. "We could see Dubai, for example, jumping up into a higher position," he says. "There's no reason why it can't easily reach the top 15 [from its current 24th place]."
In the short term, though, it's hard to see these Asian and Middle Eastern cities catching their more developed counterparts. Already holding decades-long head starts in the banking and professional service industries, cities such as Geneva and Chicago won't give up their titles as leading financial centers without a fight.
Not that New York gets away scot-free. The city's central role in the credit crunch, coupled with the added regulatory burden of the Sarbanes-Oxley Act, caused the U.S. financial capital to lose points in the most recent index. In fact, Washington consultancy The Santangelo Group reckons the U.S. has lost more than $30 billion in financial business due to the increase in government regulation.
Further down the ranking, the triple play of capital, regulations, and talent helps explain why some tiny tax havens, such as Jersey, the Cayman Islands, and the Isle of Man, outstrip larger cities like Shanghai, Mumbai, and Johannesburg in the league tables. City University's Wood posits these small places have bested some of the world's largest cities because, "Political stability and legal certainty are immensely important if you're looking to create a world-class financial center," he says.
To be sure, Western Europe and North America face plenty of competition in finance. Asian stalwarts Hong Kong and Singapore ranked third and fourth, respectively, in the latest index, while up-and-coming Chinese powerhouses Shanghai and Beijing posted strong gains in both banking regulation and overall investor confidence.
Old-Timers Won't Give Up Without a Fight
Mark Yeandle, Z/Yen Group's associate director and author of the survey, believes the growing pool of capital associated with emerging markets means these financial centers will only grow in prominence. "We could see Dubai, for example, jumping up into a higher position," he says. "There's no reason why it can't easily reach the top 15 [from its current 24th place]."
In the short term, though, it's hard to see these Asian and Middle Eastern cities catching their more developed counterparts. Already holding decades-long head starts in the banking and professional service industries, cities such as Geneva and Chicago won't give up their titles as leading financial centers without a fight.
1. London
Plentiful capital, an abundance of qualified professionals, and a stable regulatory environment helped Britain’s capital snag pole position in the global financial centers survey. But there are growing concerns over the British government’s nationalization of beleaguered mortgage lender Northern Rock and a proposed $60,000-per-head tax on foreign nationals who have lived in Britain longer than 7 years. That, combined with the city’s aging infrastructure, could see London lose the top spot as the battle to attract investment becomes tougher.
2. New York
The regulatory impact of the Sarbanes-Oxley Act hasn’t dented the Big Apple’s global competitiveness. Indeed, the U.S.’s financial capital is gaining ground on the top spot, currently occupied by London. For the first time, survey respondents ranked New York’s banking sector more highly than that of the British capital. While issues surrounding the subprime mortgage mess remain a concern, market players seem to have reacted favorably to the U.S. government’s response and still rank New York as the world's No. 2 financial center.
3. Hong Kong
The rise of China as a global financial powerhouse has given Hong Kong—already an economic heavy hitter—even greater importance. The city’s location places it at the heart of Asia’s booming economy, while its historic position as a global financial center has allowed Hong Kong to tap into ever-increasing flows of foreign capital. With these benefits, though, come underlying costs. China’s rapid growth makes the previous British colony highly susceptible to the fluctuations in the developing country’s economy.
4. Singapore
Hong Kong (No. 3) hasn't totally cornered the Asian market. Singapore, the smallest country in Southeast Asia, boasts world-class banking services and globe-beating infrastructure. The city also was one of the only places to gain points in the latest Global Financial Centers Index, predominantly due to a perceived improvement in professional services. By offering the second-lowest corporate tax rate of the cities surveyed, Singapore has wooed foreign companies looking for the biggest bang for their buck.
5. Zurich
Home to some of the world’s leading financial institutions, Zurich has made a name for itself as the No. 1 center for private banking and asset management. Strong regulatory stability and a well-earned reputation for privacy have given this Swiss city an edge over many global competitors. Yet the fallout from the subprime crisis, particularly the multibillion-dollar writedowns at giant UBS, has dented Zurich’s hard-won status.
6. Frankfurt
Frankfurt’s perceived dowdiness has often limited companies from attracting talent to Germany’s financial capital. That reputation, though, is starting to change—epitomized by the traders pictured here dressed up for Carnival—as Frankfurt scored highly on both its ability to retain top professionals and its overall standard of living. These improvements, coupled with the city’s strength in professional services, underpin Frankfurt’s place in the top 10.
Located on the banks of Lake Geneva, this Swiss city's beauty outshines that of many drab financial centers. Mirroring Zurich’s (No. 5) financial pedigree, Geneva ranks highly for asset management, private banking, and regulatory issues. And it has also come under scrutiny as the credit crunch has taken a whack at Switzerland’s leading financial institutions.
8. Chicago
The U.S.'s second financial hub, after New York, has more going for it than Lake Michigan and the Chicago Cubs. In fact, the Midwestern city remains the world-leading commodities and derivatives hub, and scores high for its business environment and overall competitiveness. The fallout from the subprime crisis, though, could take its toll on growth prospects. But as long as demand for futures contracts and professional services continues, Chicago will stay ahead of rivals.
9. Tokyo
Japan’s capital has gradually recovered from its economic woes of the '90s and now boasts the world’s second-largest stock market by capitalization. Strong capital inflows are combined with top-class amenities, such as the largest number of Michelin-rated restaurants in the world, to make the city a world-beater. Such benefits, though, are offset by poor access to top international talent and long-term regulatory difficulties that could hurt Tokyo’s future competitiveness compared to other Asian cities.
10. Sydney
A high quality of life and advantages in English-language markets mean Sydney remains integral to the plans of the world’s financial elite. Located in the booming Asia-Pacific region, the Australian city has profited from the Asian economic boom to become a leading banking center. Despite its relative isolation, Sydney also can attract top talent through its almost year-round sunshine and unbeatable cultural scene.
The World's Largest Malls 2008
They're springing up in Asia, but will they all last?
Heading out to the mall--isn't that yesterday's way to shop?
Not in Asia, where land is cheap and labor costs are low. A building boom has enormous shopping malls popping up in China, Malaysia and the Philippines, with India expected to jump into the fold soon. Based on gross leasable area, or the amount of space devoted to revenue-producing operations like stores, amusements and food, the continent is home to nine of the world's 10 largest malls, six of which have been built since 2004. That's added some 27 million square feet of shopping space to cities like Beijing and Guangzhou in China and Kuala Lumpur in Malaysia.
While many traditional malls in North America are getting squeezed by a big-box era that includes the likes of Wal-Mart Stores (nyse: WMT - news - people ), Best Buy (nyse: BBY - news - people ) and Target (nyse: TGT - news - people ) in nearly every county, Asia's rapidly growing economy has spawned a new wave of consumers looking for places to shop and play.
In Pictures: The World's 10 Largest Shopping Malls
Most of them are quite ritzy, too. A pair of Chinese malls that rank as the world's two largest--the South China Mall in Dongguan and Golden Resources Mall in Beijing--include features like wind mills and kids' theme parks. Golden Resources Mall is surrounded by newly built apartments and office buildings.
Just four years ago, the top 10 list would have included a pair of popular California destinations--South Coast Plaza in Costa Mesa and Del Amo Fashion Center in Los Angeles--along with the King of Prussia Mall in Pennsylvania and the famed Mall of America in Bloomington, Minn.
"It's almost unimaginable, the boom that has occurred in these Eastern cities," says Emil Pocock, a professor at Eastern Connecticut State University, whose American Studies department has documented the sizes and amenities of the world's largest malls. Many more of those regions' consumers now own cars, he notes, a phenomenon that has stimulated demand for more destination shopping centers. That's attracted money from mall-management groups from outside the country, largely from Indonesia and Japan.
"These people need a place to shop, and it's not going to be at the old shopping districts that date back to the days of traditional socialist rule," Pocock says.
There's a downside to all this building in China, at least in the short term. With many residents still accustomed to shopping in small local shops, demand isn't yet keeping up with supply at the new, big malls, according to information supplied to Eastern Connecticut State by Steven Beesley, co-founder of the Institute of Shopping Centre Management in Hong Kong. Malls built outside the downtown areas of major metros could have trouble surviving, he thinks.
In the U.S., meanwhile, the traditional shopping mall is part of a saturated market, thanks to the off-mall big-box retailers and to retail-industry consolidation that has jettisoned previously popular anchor stores like Montgomery Ward from the landscape. Many malls have taken to revamping or downsizing to survive. At the Houston Mall in Texas, for example, a traffic court and outpatient health-care services have replaced big stores like Sears.
And at Illinois' Park Forest Mall, near Chicago, Sears and other big stores were razed about 10 years ago to make way for a Main Street thoroughfare that includes a town green, residential units and a series of smaller stores.
In the hope of finding future growth, developers are turning to mixed-use centers, projects that combine retail, dining, entertainment and residential living units, not unlike some of the new Asian malls, like the Beijing Mall and Berjaya Times Square in Malaysia.
"We recognized in the '90s that the future of the business would be acquiring properties and [enhancing] them," says John Bucksbaum, chief executive of General Growth Properties (nyse: GGP - news - people ).
An acquisition spree begun in 1993 has increased his company's portfolio of shopping-center properties to over 200, with a market capitalization of approximately $37 billion, from 22 centers and a $1.2 billion market cap. An ambitious project that sums up GGP's vision is a massive redevelopment of the Natick Mall, a 40-year-old shopping center in suburban Boston. Longtime anchors Macy's (nyse: M - news - people ) and Sears aren't going anywhere, but a major expansion will add two luxury condominium complexes and an upscale shopping area headlined by Neiman Marcus and Nordstrom (nyse: JWN - news - people ).
Elsewhere, mixed-use "lifestyle centers," a creation of outdoor urban villages that mix retail theater and condos, are lining the map more and more. At Biltmore Fashion Park in Phoenix, outdoor walkways, myriad restaurants and spas surround top retail names like Neiman Marcus and Gucci. And at The Oaks, originally a 1970s-era mall in Thousand Oaks, Calif., near Los Angeles, a 1993 makeover helped it fit in with a planned suburb that includes growth areas like Simi Valley, Camarillo and Agoura Hills.
If the trend holds, say goodbye to the store-dominated mall, one where weary shoppers looking for a dining or amusement break are limited to the food court and the arcade room.
"It creates more density on the land you already own, which a lot of communities prefer to urban sprawl," Bucksbaum says.
No : 1 South China Mall
Location: Dongguan, China
Year Opened: 2005
Gross Leasable Area: 7.1 million square feet
In the Chinese mall arms race, this facility opened a year after the Golden Resources Mall to displace it as the country's and the world's largest. The space includes wind mills and theme parks, plus a replica of the Arc de Triomphe.
Heading out to the mall--isn't that yesterday's way to shop?
Not in Asia, where land is cheap and labor costs are low. A building boom has enormous shopping malls popping up in China, Malaysia and the Philippines, with India expected to jump into the fold soon. Based on gross leasable area, or the amount of space devoted to revenue-producing operations like stores, amusements and food, the continent is home to nine of the world's 10 largest malls, six of which have been built since 2004. That's added some 27 million square feet of shopping space to cities like Beijing and Guangzhou in China and Kuala Lumpur in Malaysia.
While many traditional malls in North America are getting squeezed by a big-box era that includes the likes of Wal-Mart Stores (nyse: WMT - news - people ), Best Buy (nyse: BBY - news - people ) and Target (nyse: TGT - news - people ) in nearly every county, Asia's rapidly growing economy has spawned a new wave of consumers looking for places to shop and play.
In Pictures: The World's 10 Largest Shopping Malls
Most of them are quite ritzy, too. A pair of Chinese malls that rank as the world's two largest--the South China Mall in Dongguan and Golden Resources Mall in Beijing--include features like wind mills and kids' theme parks. Golden Resources Mall is surrounded by newly built apartments and office buildings.
Just four years ago, the top 10 list would have included a pair of popular California destinations--South Coast Plaza in Costa Mesa and Del Amo Fashion Center in Los Angeles--along with the King of Prussia Mall in Pennsylvania and the famed Mall of America in Bloomington, Minn.
"It's almost unimaginable, the boom that has occurred in these Eastern cities," says Emil Pocock, a professor at Eastern Connecticut State University, whose American Studies department has documented the sizes and amenities of the world's largest malls. Many more of those regions' consumers now own cars, he notes, a phenomenon that has stimulated demand for more destination shopping centers. That's attracted money from mall-management groups from outside the country, largely from Indonesia and Japan.
"These people need a place to shop, and it's not going to be at the old shopping districts that date back to the days of traditional socialist rule," Pocock says.
There's a downside to all this building in China, at least in the short term. With many residents still accustomed to shopping in small local shops, demand isn't yet keeping up with supply at the new, big malls, according to information supplied to Eastern Connecticut State by Steven Beesley, co-founder of the Institute of Shopping Centre Management in Hong Kong. Malls built outside the downtown areas of major metros could have trouble surviving, he thinks.
In the U.S., meanwhile, the traditional shopping mall is part of a saturated market, thanks to the off-mall big-box retailers and to retail-industry consolidation that has jettisoned previously popular anchor stores like Montgomery Ward from the landscape. Many malls have taken to revamping or downsizing to survive. At the Houston Mall in Texas, for example, a traffic court and outpatient health-care services have replaced big stores like Sears.
And at Illinois' Park Forest Mall, near Chicago, Sears and other big stores were razed about 10 years ago to make way for a Main Street thoroughfare that includes a town green, residential units and a series of smaller stores.
In the hope of finding future growth, developers are turning to mixed-use centers, projects that combine retail, dining, entertainment and residential living units, not unlike some of the new Asian malls, like the Beijing Mall and Berjaya Times Square in Malaysia.
"We recognized in the '90s that the future of the business would be acquiring properties and [enhancing] them," says John Bucksbaum, chief executive of General Growth Properties (nyse: GGP - news - people ).
An acquisition spree begun in 1993 has increased his company's portfolio of shopping-center properties to over 200, with a market capitalization of approximately $37 billion, from 22 centers and a $1.2 billion market cap. An ambitious project that sums up GGP's vision is a massive redevelopment of the Natick Mall, a 40-year-old shopping center in suburban Boston. Longtime anchors Macy's (nyse: M - news - people ) and Sears aren't going anywhere, but a major expansion will add two luxury condominium complexes and an upscale shopping area headlined by Neiman Marcus and Nordstrom (nyse: JWN - news - people ).
Elsewhere, mixed-use "lifestyle centers," a creation of outdoor urban villages that mix retail theater and condos, are lining the map more and more. At Biltmore Fashion Park in Phoenix, outdoor walkways, myriad restaurants and spas surround top retail names like Neiman Marcus and Gucci. And at The Oaks, originally a 1970s-era mall in Thousand Oaks, Calif., near Los Angeles, a 1993 makeover helped it fit in with a planned suburb that includes growth areas like Simi Valley, Camarillo and Agoura Hills.
If the trend holds, say goodbye to the store-dominated mall, one where weary shoppers looking for a dining or amusement break are limited to the food court and the arcade room.
"It creates more density on the land you already own, which a lot of communities prefer to urban sprawl," Bucksbaum says.
No : 1 South China Mall
Location: Dongguan, China
Year Opened: 2005
Gross Leasable Area: 7.1 million square feet
In the Chinese mall arms race, this facility opened a year after the Golden Resources Mall to displace it as the country's and the world's largest. The space includes wind mills and theme parks, plus a replica of the Arc de Triomphe.
No : 2 Golden Resources Shopping Mall
Location: Beijing, China
Year Opened: 2004
Gross Leasable Area: 6 million square feet
Not sprawling, this is a stacked-up five-story mall. Approximately 1,000 stores, selling plenty of familiar global brands like Nike and DKNY. A truly ambitious real estate project, with new apartments and offices, surround the mall. A tough location outside the heart of the city has resulted in disappointing traffic from foreign tourists.
No : 3 SM Mall of Asia
Location: Pasay City, Philippines
Year Opened: 2006
Gross Leasable Area: 4.2 million square feet
Includes the first Olympic-sized swimming pool and first IMAX theater in the Philippines. Spread over four buildings, customers can get around on a 20-seat tram.
No : 4 Cevahir Istanbul
Location: Istanbul, Turkey
Year Opened: 2005
Gross Leasable Area: 3.8 million square feet
Europe's largest shopping mall has a roller coaster, wave pool and several IMAX theaters.
No : 5 West Edmonton Mall
Location: Edmonton, Alberta, Canada
Year Opened: 1981
Gross Leasable Area: 3.8 million square feet
The biggest in North America, the West Edmonton Mall has over 800 stores, along with attractions like a water park, skating rink, casino and rides.
No : 6 SM Megamall
Location: Mandaluyong City, Philippines
Year Opened: 1991
Gross Leasable Area: 3.6 million square feet
Fun stuff includes bowling, ice skating and a 12-cinema movie theater, along with traditional mall fare like arcade games. Customers can also get a haircut or see a doctor at the Manila clinic.
No : 7 Berjaya Times Square
Location: Kuala Lumpur, Malaysia
Year Opened: 2005
Gross Leasable Area: 3.4 million square feet
Built with an adjacent hotel and convention center. In addition to over 1,000 retail shops, the mall includes a 12-story-high roller coaster, plus a pool, skating rink and "Cosmo's World," a children's theme park.
No : 8 Beijing Mall
Location: Beijing, China
Year Opened: 2005
Gross Leasable Area: 3.4 million square feet
The first real suburban mall in China, located about an hour from downtown Beijing, this center has four levels with parking for 8,000 cars, plus a man-made beach. Bootlegged DVDs of American movies are a top seller.
No : 9 Zhengjia Plaza
Location: Guangzhou, China
Year Opened: 2005
Gross Leasable Area: 3 million square feet
Has been known to attract over half a million shoppers on a good day. Another mixed-use space, the mall has a hotel and office tower in addition to retail stores.
No : 10 SM City North Edsa
Location: Quezon City, Philippines
Year Opened: 1985
Gross Leasable Area: 3 million square feet
The first major "mega mall" built by SM Prime Holdings, which now claims three of the largest 10 in the world. It's a five-story complex that boasts over 100 retail outlets and restaurants, along with 12 cinemas, a bowling alley and skating rink. An IMAX theater could be added soon.
Switzerland
The French Riviera
We were so ready for some warm weather (both caught some flu-like symptoms) and more relaxation. We found Antibes to be the most relaxation-friendly coastal village with it's beautiful public beaches and quaint cobblestone pedestrian streets.
The Picasso Museum's impressive remodel really blew us away. Beautiful daylighting throughout the space enhanced the artist's work and provided unique vantage points from which to view the village and sea.
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