Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Pasay City: $350 million. Founded in 1630, Boston is one of our countries oldest cities. How does a city become one of the wealthiest in the world? Los Angeles is a city that takes great strides to encourage economic growth. This northern Chinese city is not only a hub for luxury brands, it headquarters China's largest companies, many of which are considered in the Fortune Global 500. Get full access to all features within our Business Solutions. Lets take a closer look at some of the top-ranking cities making the list. Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. The typical American household earns $57,617 per year. Some of them have topped the rankings for decades, while some others are less well-known. The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. Rising development costs and foreign competition had already felled the fortunes of South Koreas pharmaceuticals sector, before coronavirus concerns hit the countrys economy in late February in total, thirteen Seoul-based billionaires dropped off the list. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO, . L.A. makes good use of both job training programs and development projects. New York City is also considered the country's leader in finance due to its storied past. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. For instance, the city of New York is a metropolitan area made up of 5 boroughs with each borough contributing to the cities overall GDP. Compared to many other states, Kentucky has low, Read More The 20 Safest Places to Live in KentuckyContinue, The price of land jumped dramatically from 2020 to the present. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. Business Solutions including all features. Gautam Shantilal Adani. Though London had a net gain of one new billionaire this year, this city that appeals to the worlds elite actually has five new billionaire residents who hail from outside the United Kingdom, including Russian brothers Dmitry and Igor Bukhman, founders of online gaming firm Playrix; and Camilla de Godoy Bueno Grossi, who inherited part of the fortune of her late father, Brazilian healthcare tycoon Edson de Godoy Bueno. The Top 15 Cities in Asia in 2020. 3. Are you interested in testing our business solutions? Boasting a financially fruitful economy, the Big Apple is known for its abundantly wealthy population, with a the collective wealth of over $3 trillion USD. This is a list of cities in the world by gross domestic product (GDP). The richest cities in the world are determined by their gross domestic product, or GDP. New Delhi- GDP $293.6 Billion. Refer to sources for more information. Furthermore, 121. But the Nations Valentine has so much more to offer. The Big Smoke is no stranger to economic prosperity. These are the 10 wealthiest cities in the world - and the number of wealthy individuals who live in each of them - according to Henley & Partners' report. For instance, billionaires like Zhang Yiming, founder of TikTok, calls the capital city home (with a net worth of about $35.6 billion USD)! Newsletter. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. South Koreas Wall Street is the Korea Exchange in Yeoui Island. Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. 10. Dubai in top 10. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Paris, which has topped the ECA list in the past, dropped out of the top 30. Finally, Oceania has two cities on the list, both located in Australia. Sy Siblings Still at Top. from people staying indoors and spending more time online. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. Finally, London hosts some of the most prominent Fortune Global 500 companies such as Lloyds Banking Group, Prudential, J Sainsbury, BP, Tesco and Vodafone Group, among others. A little known fact is that L.A. is the manufacturing center of the country. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. There is a distinction between wealth held by identifiable individual billionaires or a "nuclear family" and the wider notion of an extended family or a historical "dynasty," where the wealth of a . The richest country in the world is Luxembourg. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. 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. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. Penthouses in the 30 Park Place complex are currently listed for 10 times as much. Being a prominent city in Asia, Shanghai is home to over 24 million people, there are about6,180 multi-millionaires and 42 billionaires living in Shanghai. Organisation for Economic Co-operation and Development, List of most expensive cities for expatriate employees, List of country subdivisions by GDP over 200 billion US dollars, "Gross Domestic Product: Implicit Price Deflator", "Standard country or area codes for statistical use (M49): Geographic Regions", "Global Wealth GDP Nominal Distribution: Who Are The Leaders Of The Global Economy? This large metropolitan area has a history of being the hub of Germanys heavy industry sector. Major metropolitan areas contributing at least 2.5% of world GDP. Source: Forbes Music: Beethoven 5th Symphony New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. ", Hurun Research Institute, Leading cities with the most billionaires in 2022 Statista, https://www.statista.com/statistics/299494/billionaires-top-cities/ (last visited March 04, 2023), Leading cities with the most billionaires in 2022 [Graph], Hurun Research Institute, March 17, 2022. 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. London City | Photo: Reuters 7. 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. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. 30 in the index, a. We added hundreds of new lists - see our top 101 city lists. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. To this day, Macao is the only country on the list whose per-capita purchasing power is lower than it was before the start of the pandemicabout $125,000 in 2019, down by $40,000 today. Apart from the cost of a home, examining how, Read More What is the Cost of Living in New Hampshire?Continue, Mexicos proximity to the US makes it a hugely popular option for American expats and retirees. Other notable NYC billionaire residents include hip-hop superstar Jay-Z and Julia Koch, the widow of former Koch Industries magnate David Koch. Click on the headers to reorganize columns. San Francisco also relishes in its reputation as the sixth largest economy in the US. 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 One of the largest cities in the world with the GDP of about 1,520 billion dollars, Tokyo is the wealthiest city in the world in terms of GDP ranking. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. While the cost of living in some of the cities in these nations is low, it comes at the price of a weak currency, poor economy, and, in many cases, political and economic turmoil. The county seat of Loudoun is in Leesburg, where most administration activities take place. the country's economy as a whole is one of the fastest growing in the world. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. Top 100 City Lists Top 100 cities with highest median household income Top 100 cities with highest median household income Previous toplist Next toplist New! 29. Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. 2 on the list, but the city recorded a net loss of eight billionaire residents. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. 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. Delhi City. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. Though residents are keen on investing in the real estate market, younger generations are finding it difficult to afford a home in Seoul due to the rising cost of real estate property and rising economic insecurity. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. More than 80% of Russias, call its capital home, including mining mogul. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. 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Trip Ideas; According to the United Nations' latest report on populations in cities, by 2030, "urban areas are projected to house 60 percent of people globally and one in every three people will live in . The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. 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. The 150 richest cities in the world by GDP in 2020 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. It has more sunshine than Florida, Read More The 20 Safest Places to Live in ArizonaContinue, Generally speaking, when people set out to buy a property, they are recommended to check out the property in person before making the purchase. Zurich, Switzerland - 27.34% Millionaires. Ian Lurie on Quora calls Seattle "one of the most beautiful U.S. cities you'll find, with lots of lakes, the bay, mountains and green stuff.". Visakhapatnam - Industrial Port Of India. 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 city contributes about 30% of goods sold in Russia. Home to about 393,000 millionaires, Seoul's economy is rooted in manufacturing, financial services, and transportation. These figures were taken after the market close on September 18, 2020. This site uses Akismet to reduce spam. Blessed with an affordable cost of living, two stunning shorelines, vibrant cities, and swathes of glorious scenery, its understandable, Read More The 10 Best Places to Live in Mexico for AmericansContinue, If you live in Kentucky already, then youll already be well aware that when it comes to crime, the Bluegrass State is doing pretty well for itself. The LSE is one of the largest stock exchanges in Europe, encompassing assets from over 2,400 companies, with many of these companies using London as their central headquarters. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. While Shenzhens export-led manufacturers have. After all, Paris is one of the hotbeds of world tourism, its the city of love and art. Beijing also has the dubious distinction of being the knock-off capital of the world. Other Shanghai entrepreneurs are newcomers to the list, including, , who draws his wealth from express delivery firm ZTO Express, and, , whose anime and entertainment site Bilibili, an uptick in demand after it gave residents of locked down areas. Surprisingly, this is the Big Apples first time atop the ranking. The place is mostly known for its stunning Renaissance architecture and is . "The Sy siblings took the biggest hit in dollar terms but remain at No. 1. Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the. 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. Let's consider New York City. These four cities are, Singapore broke into the top 10, replacing Seoul, which was No. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. 27. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Tokyo has 39 million residents which are 50% more than any other urban area of the world. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO Ryan Graves and Pinterest cofounder Ben Silbermann. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . The manufacturing and export hub across from Hong Kong added five members to the three-comma-club in the last year, all of them self-made. Richest Cities in the World. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? As soon as this statistic is updated, you will immediately be notified via e-mail. Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. 6 and No. By 2025, the city's GDP would have [] In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. The city employs 36,000 people and is home to some 75, 00 people. The top ten richest cities in the world based on private wealth include: Mumbai - City Of Dreams. 3. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. Aside from establishing the NYSE in the early 19th century (formerly known as the New York Stock and Exchange Board), the city was set in a convenient location for trading, due its proximity to the Hudson River and the Great Lakes. The top 10. Learn how your comment data is processed. Being a world-class city that attracts prominent figures in the tech industry, San Francisco is one of California's most popular (and richest) cities. 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.). Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. MacKenzie Scott is an American novelist and philanthropist. Interactive map Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. There are 4,000 cities and towns in India. Additionally, factors such as taxes, transportation costs, and availability of goods and services can also contribute to the overall cost of living in global cities. 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. Here are the 10 leading cities for the wealthy for 2019. 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. These are of very low quality and should be avoided. The largest economy in states, New York Citys prosperity is rooted in Wall Street. San Francisco also has the highest median household income in the country. Manila: $790 million. London, United Kingdom: $978.402 Billion, 2. Though affordability sounds good at face value, sitting at the bottom of the ranking isnt necessarily a coveted position. Boston-Cambridge-Newton, Massachusetts. The Shenzhen Special Economic Zone or SEZ is an important business and financial services center in China. The four cities that made the top 50 in 2019 but did not make . 7 and Shanghai and Beijing staying flat at No. 10. Pasig City: $710 million. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. [Online]. Till 2030, Tokyo city will project to be the top-most populated city on earth. Shanghai. In fact, according to this chart, you can see that manufacturing takes the lead with 16.6 percent followed by retail at 16.6 percent and real estate at 11.4 percent. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. She was the wife of Jeff Bezos, founder of Amazon. In total, these 30 people control. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. Washington, District of Columbia: $578.985 Billion, 4. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR). Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Regarded as China's financial hub, this bustling city is home to the Shanghai Stock Exchange, one of the largest stock exchanges in the world. Kim Kardashian- $1 billion. - Full Size", "Gross domestic product (GDP) at basic prices, by census metropolitan area (CMA)", "Population estimates, July 1, by census metropolitan area and census agglomeration, 2016 boundaries", "Population on 1 January by age groups and sex - functional urban areas", "President: Almaty turns into large regional investment attractive centre", "Posio ocupada pelos maiores municpios brasileiros em relao ao Produto Interno Bruto, Est. Swift reportedly owns about $40 million worth of property in the area. Hurun Research Institute. New York, U.S . Chicago, which serves as the home base for 35 Fortune 500 companies, is home to 160,100 millionaires, 340 centimillionaires and 28 . As a Premium user you get access to background information and details about the release of this statistic. Other industries driving their economy are tech, tourism, and the service industries such as hospitality. Where are the German and Chinese Cities? Property prices fell across the board in Hong Kong in late 2019, damaging the real estate industry that is the source of wealth for many of the citys richest, including Hong Kongs sole newcomer real estate developer Lun Ruixiang. Various lists of the richest families in the world (excluding royal families or autocratic ruling dynasties) are published internationally, by Forbes as well as other business magazines.. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. In other words, the city produces poor copies of everything from designer fashions to scooters. 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. 50 Richest Countries in the World 2020. Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. Newcomers from other sectors also joined the ranks, including AI pioneer, Hong Kong remains No. Makati City: $4.48 billion. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. The Top 5 Cities in Mexico. Loudoun County. March 17, 2022. Hong Kong remains No.