Lets take a closer look at some of the top-ranking cities making the list. By 2025, the city's GDP would have [] 1. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Please do not hesitate to contact me. The international megacity is the country's bustling financial and commercial hub, with its economic wealth tied to its services in finance, healthcare, professional and business services, retail, and education. The cities shown in our visualization are already well-established locations for high-net-worth individuals. [3] List [ edit] But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. The Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. New York. With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. Furthermore, being a world-class city, Seoul's cost of living is high compared to other cities in Asia, especially in regards to its real estate prices. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. It had about 2,000 inhabitants at the time. Other industries driving their economy are tech, tourism, and the service industries such as hospitality. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. Leading cities with the most billionaires in 2022 [Graph]. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. Barcelona, Spain Rome, Italy Madrid, Spain Singapore, Singapore Amsterdam, Netherlands Prague, Czech Los Angeles, USA Chicago, USA San Francisco, USA Berlin, Germany Hong Kong, China Washington, USA Beijing, China Dublin, Ireland Istanbul, Trkiye Las Vegas, USA Milan, Italy Budapest, Hungary Toronto, Canada Sydney, Australia Seoul, South Korea To make the list, the EIU examines 400+ prices for over 200 products and services in 172 cities, surveying a variety of businesses to track price fluctuations over the last year. Reportedly, the top 20% earners in the city have an average salary of over $280,000 USD, with the top 5% earning over $530,000 USD. How does a city become one of the wealthiest in the world? As soon as this statistic is updated, you will immediately be notified via e-mail. In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. UAE in Top 20. You need at least a Starter Account to use this feature. Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. Chart. Pune - Oxford Of The East. Here are the Top 10 Richest Places in America and how they split their Heroes Act bailout allocation: #1. New York is home to many Fortune 500 companies and is the financial heart of the United States, with the New York Stock Exchange and NASDAQ located in the Big Apple. 24/7 Wall Street reviewed income levels in 382 metropolitan . Manila: $790 million. Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. The Football Lovers Menu News Premier League Manchester City Manchester United Liverpool Chelsea Arsenal Leicester City Tottenham Hotspur West Ham United Everton Transfers Top 10 Quizzes Beijing also has the dubious distinction of being the knock-off capital of the world. Home to both invention and innovation, animes, mangas and of course, robots, Tokyo is known as the financial center of the world. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? E-commerce has seen a boom in China since millions of citizens were locked down in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like Colin Huang. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. According to Investopedia, Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a countrys borders in a specific time period. In this case, we are looking at the GDP of metropolitan statistical areas, and not countries. $520.1. Known as a center of learning due to the many high caliber universities in the city such as Osaka and Kansai universities, Osaka attracts creative and innovative industries. Major sectors there include: real estate and fund management. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. This includes the burgeoning FinTech, or financial technology industries. City of Clayton -$146,225. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. 11. Here are the 10 leading cities for the wealthy for 2019. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. 50 Richest Countries in the World 2020. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. New York City is also considered the country's leader in finance due to its storied past. Shibuya Crossing, one of the busiest crosswalks in the world, in Tokyo, Japan Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. In some U.S. cities, however, more than half of all households earn $70,000-plus. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. statistic alerts) please log in with your personal account. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. This is a list of cities in the world by gross domestic product (GDP).The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. This is because they are supposed to get a better idea, Read More When is it OK to Buy a House Site Unseen as an Investor?Continue, You might be thinking of relocating to New Hampshire for work or other reasons. After their divorce, MacKenzie received a 4% stake in Amazon, which was worth about $35 billion at the time. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. Lower down the list So, which cities are lower ranked than in previous years? By 900,. Historically speaking, Osaka has always been thought of as a major economic center of Japan. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. Current Health Expenditure per Capita. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. Rankings of Cities and Municipalities are based on the sum of their scores on 4 Pillars: Economic Dynamism, Government Efficiency, Infrastructure, Resiliency, and Innovation.Provincial rankings are based on population and income weighted average of the Overall scores of cities and municipalities under a province. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. Since 1949, Beijing was considered one of China's most industrial cities. It is also home to Wall Street, the financial capital of the US and the world. Moreover, dozens of Russia's most prominent companies are also headquartered in Moscow that contribute to the city's wealth, which includeRosneft, Sberbank, Russian Railways, and Lukoil. Another crucial element is the neighborhood of Zhongguancun. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. Of the top 50, the city with the biggest jump in the rankings was Austin, Texas, which moved up 18 spots from 2017 to claim No. 12. Refer to sources for more information. Tokyo has 39 million residents which are 50% more than any other urban area of the world. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. American retail corporation Walmart has been the world's largest company by revenue since 2014. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. 4. If you live in a city where many residents find it challenging to put a roof over their heads, food on their plates, and make ends meet, you live in an expensive city. This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. Learn how your comment data is processed. Dallas is known to attract innovation, and one look at some of the top companies in Dallas proves it: AT & T, Texas Instruments, Pinnacle Group, Solera and Capital Networks, among others. 6 and No. The richest country in the world is Luxembourg. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. Most of the cities in our list have a similar history in terms of long-standing economical power (Tokyo, Paris, London), while others seem to have gained most of their wealth in the past 2 to 3 decades (San Francisco.). Some of them have topped the rankings for decades, while some others are less well-known. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). 10. Four cities made the list for the first time: Blackhawk, California; New Albany, Ohio; Long Grove, Illinois; and Darnestown, Maryland. In terms of asset management, FinTech, and ESG investment, Tokyos continued growth as the worlds most foremost economies appears secured. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. Their net worth is based on the data from 2022 available on their respective Forbes profiles. Newcomers from other sectors also joined the ranks, including AI pioneer, Hong Kong remains No. This included plans of action to assist with rent, taxes, business subsidies and more. Additionally, approximately 18% of Japan's universities are found in Tokyo. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Other notable NYC billionaire residents include hip-hop superstar Jay-Z and Julia Koch, the widow of former Koch Industries magnate David Koch. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Zurich, Switzerland - 27.34% Millionaires. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. Quezon City: $1.69 billion. Mapped: Which Countries Have the Highest Inflation? 1. Till 2030, Tokyo city will project to be the top-most populated city on earth. The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. 9 last year. Singapores richest resident, Zhang Yong, is also Chinas richest restaurateur the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the companys stock over the past year. Hong Kong is once again the city with the second most billionaires in the world. U.S. Inflation: How Much Have Prices Increased? The four cities that made the top 50 in 2019 but did not make . Most affluent women worldwide 2022, by net worth, Worldwide wealth distribution by net worth of individuals 2021, Countries with the highest wealth per adult 2021. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. In the past, manufacturing was seen as a booming sector in Shanghai, but lately its slowed and is being replaced by financial services, trade, information tech, real estate and commerce, among others. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. The international city of romance boasts an economically wealthy status. It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. 1 with $13.9 billion. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. London, United Kingdom: $978.402 Billion, 2. Get full access to all features within our Business Solutions. What is the Cost of Living in New Hampshire? MacKenzie Scott is an American novelist and philanthropist. Reportedly, Moscovites earn a higher salary compared to national average, with many much of their income tied to renting real estate property and entrepreneurial ventures. Its wealthiest resident, Ma Huateng, chairman and CEO of Internet media behemoth Tencent Holdings, is the second-richest person in China, after Alibaba cofounder Jack Ma.
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