Globalisation refers to the increasing interconnectedness and interdependence of countries, economies, societies and institutions across the world. It involves the movement of goods, services, capital, technology, information and, to some extent, people across national boundaries. Globalisation has been strengthened by liberalisation, technological advancement, improvements in transport and communication, and the expansion of international trade and investment. In the context of urban development, globalisation has significantly transformed the structure, functions and economic opportunities of cities. The economic dimension of globalisation is primarily reflected in the integration of national and local economies into the global economy. One of its major features is the expansion of international trade. Countries increasingly exchange goods and services with