This Policy Note provides insights from the private sector on the opportunities for growth that smart cities can offer in Asian economies. The analysis builds on discussions which took place at the “Global Challenges for Business in Emerging Markets” meeting organised by the OECD Development Centre’s Emerging Markets Network (EMnet) at the OECD headquarters on 28 March 2019, as well as desk research and bilateral conversations with multinationals operating in emerging markets. Growth in 2020-24 was expected at 5.7% on average, but the region’s projections have been slashed to just over 2% for 2020.