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1、March 2025Public Sector PracticeNew York 2040:Time to reinvent.Again.This article is a collaborative effort by Anthony Shorris,Brooke Daniels,Maurice Obeid,and Yael Taqqu,with Kevin Russell,representing views from McKinseys Public Sector Practice.Since the early 17th century,New York has been a glob

2、al hub for the flow of goods,capital,people,and ideas.1 It has experienced constant economic transformation,dominating first in the fur trade,then in shipping,sugar refinement,machine tools,the garment trade,business services,and finance.Through its evolution,New York has grown not only as a center

3、of innovation but also as a catalyst for progress around the world.Today,the New York metropolitan areas biggest sectors include financial services,healthcare,professional services,retail,and education.2 Those five sectors employ more than four million residents and generate more than a trillion dol

4、lars in annual revenuesmore than half of the regions GDP.3 Technology is also one of the fastest-growing sectors in New York.And while core sectors have persisted and evolved,the past 400 years have shown that todays leading industries may not be the industries that generate waves of job creation,wa

5、ge increases,living standards,or economic growth in the decades to come.The time has come for New Yorks bold,imaginative leadersin communities,industry,academia,government,and civic organizationsto join forces and reinvent New York once again.Recent research by the McKinsey Global Institute(MGI)sugg

6、ests that 18 arenas of competition,a unique category of industries defined by high growth and dynamism that includes e-commerce and cloud services,could reshape the global economy in the next ten to 15 years(see sidebar,“The 18 arenas of competition”).4 Examples of arenas include e-commerce,cloud se