Before the Ukraine invasion, Moscow was the economic hub of Russia. Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. It had about 2,000 inhabitants at the time. The cities shown in our visualization are already well-established locations for high-net-worth individuals. Ever since, San Francisco has remained a strong financial stronghold for the state of California. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. These cities have a combined GDP of $2.4st trillion, equating to more than double that of second-place San Francisco. 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, , founders of online gaming firm Playrix; and, , who inherited part of the fortune of her late father, Brazilian healthcare tycoon, in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like, . 30 in the index, a. Property prices, 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, Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to inheriting a fortune); many have close ties to Russian President Vladimir Putin. Moscow. Get full access to all features within our Business Solutions. to incorporate the statistic into your presentation at any time. - Mappe, Popolazione, Statistiche Demografiche dell'ISTAT", "Total Real Gross Domestic Product for Wichita, KS (MSA)", "Population estimates by selected Non-ABS Structures, 2010-2020", "China: Gungdng (Prefectures, Cities, Districts and Counties) - Population Statistics, Charts and Map", https://en.wikipedia.org/w/index.php?title=List_of_cities_by_GDP&oldid=1142520927, This page was last edited on 2 March 2023, at 21:41. 2. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. San Francisco also relishes in its reputation as the sixth largest economy in the US. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. This list is incomplete, as not all companies disclose their information to the general public. By 2025, the city's GDP would have [] When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. Quezon City: $1.69 billion. from people staying indoors and spending more time online. Ahmedabad - Textile Hub Of India. Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. Furthermore, Tokyo owns 10% and close to 16% of Japan's officespace and workers, respectively. 7 and Shanghai and Beijing staying flat at No. 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 Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. 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. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. Tourism is another major contributor to the economy of Philadelphia. 2. Use Ask Statista Research Service. 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 . You need at least a Starter Account to use this feature. 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. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. 24/7 Wall Street reviewed income levels in 382 metropolitan . 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. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. Additionally, the citys real estate market is known for being expensive, with sky-high property values and rents. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. The top 10. 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. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Founded in 1630, Boston is one of our countries oldest cities. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. 3. Visualizing the Global Share of U.S. Stock Markets. 1. Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. 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. 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 video will compare the top 50 richest people in the world by net worth in 2020. London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. In fact, London is one of the chief financial centers of the world. Let's consider New York City. Los Angeles, Chicago and Houston round out the top five. This included plans of action to assist with rent, taxes, business subsidies and more. But what are the fastest growing cities for the rich? Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. In other words, the city produces poor copies of everything from designer fashions to scooters. 7 and Shanghai and Beijing staying flat at No. The city with one of the most expensive real estate markets worldwide, Hong Kong ranked fourth in this list, followed by Los Angeles, which moved up from its ninth rank in 2021. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. As such when it comes to the richest cities in the world, New York City comes in at number 2. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. As a Premium user you get access to background information and details about the release of this statistic. In, Hurun Research Institute. The Top 5 Cities in Mexico in 2020. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. Florence, Italy - 2.59% Millionaires. Which Countries are Buying Russian Fossil Fuels? As a Premium user you get access to the detailed source references and background information about this statistic. 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 Its known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. To use individual functions (e.g., mark statistics as favourites, set 10. 12. Mumbai - City Of Dreams. But the Nations Valentine has so much more to offer. These are of very low quality and should be avoided. This statistic is not included in your account. Seven cities have population more than 3 million. The richest person in New York City is Bloomberg LP founder and former Mayor, $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. Gautam Shantilal Adani. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. The PPP is a way to meaure prices in different countries (and ultimate convert between currencies), based on the equal amount of goods and services that can be bought. Photo: @Kim Kardashian West. Beijing also has the dubious distinction of being the knock-off capital of the world. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. 5. 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. Another crucial element is the neighborhood of Zhongguancun. 27. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. 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. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. Access to this and all other statistics on 80,000 topics from, Show sources information As soon as this statistic is updated, you will immediately be notified via e-mail. Kolkata- GDP $150.1 Billion. Singapore has one of the highest densities of millionaire households in Asia, with over 5% of households having at least $1 million USD in net financial assets. The median home value for the lower Tribeca area is around $2.5 million. (March 17, 2022). Learn how your comment data is processed. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. , who is also the richest person in the nation. South Koreas Wall Street is the Korea Exchange in Yeoui Island. In an attempt to rank the cities of the world according to wealth, we will use the Purchasing Power Parity (PPP) as a means of comparison. Among Singapores newcomers are gaming tycoons Forrest Li and Gang Ye, cofounders of the online gaming and e-commerce firm Sea; both industries have benefited from people staying indoors and spending more time online. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. Historically speaking, Osaka has always been thought of as a major economic center of Japan. "Leading cities with the most billionaires in 2022." The metropolitan area of Rhine-Ruhr is divided into 3 regions, and each region contributes to the GDP of the entire Rhine-Ruhr metropolitan area. 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. Standing as Russia's capital for centuries, the country's national wealth has been building in Moscow since the 1990s after the fall of the Soviet Union. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. The top 10 richest cities in the Philippines. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. Adding to the diversity are biotech companies and information technologies. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. These four cities are home to 228 billionaires. 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. It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. 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. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. . , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. 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. 1. In terms of asset management, FinTech, and ESG investment, Tokyos continued growth as the worlds most foremost economies appears secured. Being one of Asia's most wealthy countries, South Korea is home to the capital Seoul, which witnessed an 11% increase in its millionaire population between 2019 and 2020, despite facing a global pandemic. Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. Singapores richest resident. Here are the 10 leading cities for the wealthy for 2019. 6 and No. 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.. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. Surprisingly, this is the Big Apples first time atop the ranking. Washington, District of Columbia: $578.985 Billion, 4. 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