The cannabis business is rather recent, but also encourages financial growth for the city. The four cities that made the top 50 in 2019 but did not make . Quezon City: $1.69 billion. Like the other cities mentioned in our list of the richest cities of the world, the economy of Washington, D.C. is a diverse one. 1. Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. Moreover, a portion of Beijing's rapid economic growth is the product of international investments, registering over 45,000 foreign-invested businesses in 2020. Pune - Oxford Of The East. 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. These figures were taken after the market close on September 18, 2020. As such, you can see how anything affecting these shipping ports will have a negative impact on world wide supply chain logistics. Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. 10. 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. RICHEST RESIDENT: VLADIMIR POTANIN, $19.7 BILLION Getty Images Moscow is the only other city among the top 10, besides Shenzhen, where every single billionaire is self-made (as opposed to. Learn more about how Statista can support your business. . 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. This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. Surprisingly, this is the Big Apples first time atop the ranking. According to the Greater Houston Project, As retailers work to rebuild their inventories, as factories struggle to resolve supply chain issues, as the global economy continues to grow, so will the demand for Houstons exports, and so will Houston employment,. Pasay City: $350 million. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Top 10 Poorest Countries In The World 1. The Top 5 Cities in Mexico in 2020. Ahmedabad - Textile Hub Of India. Top 50 Richest Places In America Allocated $350 Million "Coronavirus The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Mapped: The Top 10 Billionaire Cities - Visual Capitalist Delhi city is the second most populated city in the world with a 30,291,000 million population. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. 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 Sy siblings took the biggest hit in dollar terms but remain at No. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. the country's economy as a whole is one of the fastest growing in the world. This large metropolitan area has a history of being the hub of Germanys heavy industry sector. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Here are the 10 cities in the world with the most billionaires: New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. Here are the Top 10 Richest Places in America and how they split their Heroes Act bailout allocation: #1. 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. Additionally, approximately 18% of Japan's universities are found in Tokyo. - Full Size", "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? Surat - City Of Sun. - 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. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. The 15 Richest Cities in the US - MoneyWise 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. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. 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 . Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. Richest Cities in the World. London is ranked second with $2.7 billion in private wealth. In fact, the average annualy income in these neighborhoods is typically over 100,000. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Major sectors there include: real estate and fund management. Richest City in the World 2023 - worldpopulationreview.com This international city has over 192,000 resident millionaires with 34 billionaires. Manila: $790 million. 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. This is a list of cities in the world by gross domestic product (GDP). San Ramon ranks among the top ten safest cities in California. The San Francisco Bay Area boasts 276,400 millionaires. 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. Additionally, the citys real estate market is known for being expensive, with sky-high property values and rents. A good part of their revenue comes from their port, which is the largest container port in the world. 3. Ranked: Americas Best Places to Work in 2023, Mapped: GDP Growth Forecasts by Country, in 2023, Charted: Teslas Unrivaled Profit Margins, Ranked: The Top Online Music Services in the U.S. by Monthly Users. While Shenzhens export-led manufacturers have struggled from the effects of the trade war with the U.S., the citys billionaires added $29.7 billion to their collective net worth since 2019. Rising development costs and foreign competition had already, 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. There are 4,000 cities and towns in India. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. India is the world's second-most populous country, with several large cities and densely inhabited areas. About 300 cities have population over 1,00,000. London City | Photo: Reuters 7. - 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. 30 in the index, a. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. . Richest Counties in the United States - [2023 Updated] - RichUpdates 13. However, Shanghai is one of Asia's most expensive cities to live in, due to its high cost of living, from real estate to daily transportation. Interactive map Click on the headers to reorganize columns. 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. A paid subscription is required for full access. As a Premium user you get access to the detailed source references and background information about this statistic. Those include, , who heads Indias largest paint company, Asian Paints, and the, , who control adhesives and sealants maker Pidilite Industries. Moscow. "Leading Cities with The Most Billionaires in 2022. San Francisco also relishes in its reputation as the sixth largest economy in the US. Tokyo, Japan- GDP: $1,520 billion. South Koreas Wall Street is the Korea Exchange in Yeoui Island. , who is also the richest person in the nation. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. The Private Industry Council works to promote the local economy via job training programs. Richest Asian Countries 2023 - worldpopulationreview.com Five of the 10 wealthiest cities in the world are in the U.S. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. There are many benefits to living in an iconic city like New York or Singapore, but the amenities and exclusivity can come at a high cost. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. Top 50 richest actors in the world: Who is the wealthiest? The richest cities in the world are determined by their gross domestic product, or GDP. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Mapped: Which Countries Have the Highest Inflation? Top 10 Richest Cities in the World In terms of GDP rankings This international city is also attractive to domestic and foreign investors alike. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. Singapores richest resident. 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. Swift reportedly owns about $40 million worth of property in the area. Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. 10 Richest Car Companies In The World - ventured.com Beijing is the capital of China and has a population of over 20 million. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. 1 with $13.9 billion. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. Profit from the additional features of your individual account. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. I cover the world's richest people and how they made their billions. The Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. Fortune 500 companies include Comcast, Colonial Penn, Sunoco, Aramark, CIGNA, Lincoln Financial Group, and more. Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)? 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 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. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. 3. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Top Cities in the World to Visit. 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. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. 7 and Shanghai and Beijing staying flat at No. You can only download this statistic as a Premium user. Retail Investors Most Popular Stocks of 2023 So Far, Consumer Price Inflation, by Type of Good or Service (2000-2022), Mapped: Unemployment Forecasts, by Country in 2023, Decoding Googles AI Ambitions (and Anxiety), Ranked: Americas 20 Biggest Tech Layoffs Since 2020, Infographic: Generative AI Explained by AI, Infographic: 11 Tech Trends to Watch in 2023, Ranked: The Top 50 Most Visited Websites in the World, Visualized: The Most (and Least) Expensive Cities to Live In, Visualizing $65 Trillion in Hidden Dollar Debt, Visualizing the Relationship Between Cancer and Lifespan, Visualizing How COVID-19 Antiviral Pills and Vaccines Work at the Cellular Level, Mapped: The Most Common Illicit Drugs in the World. For instance, billionaires like Zhang Yiming, founder of TikTok, calls the capital city home (with a net worth of about $35.6 billion USD)! Please do not hesitate to contact me. Top 10 Richest Cities In The World - IndiaTimes Tourism not only pumps money into San Francisco's economy by way of tourist spending, it also offers a source of jobs in the city. $516.5. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Leading billionaire cities 2022 | Statista The 373-page COA report covered all 81 provinces, 145 out of 146 cities, and 1,447 out of 1,488 municipalities that submitted their 2020 financial statements. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. What is the Cost of Living in New Hampshire? In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. Greater Mumbai still is the most populated city in its 440 sq. 24/7 Wall Street reviewed income levels in 382 metropolitan . 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. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. 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. 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. 1. [3] The methodology of calculating GDP may differ between the studies and are widely based on projections and sometimes approximate estimations, notably for cities that are not within the Organisation for Economic Co-operation and Development. Learn how your comment data is processed. Lower down the list So, which cities are lower ranked than in previous years? City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. In some U.S. cities, however, more than half of all households earn $70,000-plus. Top 10 Richest Cities In India - TravelTriangle.com Top 50 Richest Indians in 2022: Comprehensive List - StartupTalky 27. India is the second largest country in the world after China. It is also home to Wall Street, the financial capital of the US and 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. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. Top 10 richest cities in the world, according to Wealth-X - CNBC New York. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . Top 10 Richest Cities in the World - Luxatic The median home value for the lower Tribeca area is around $2.5 million. It is the largest urban economy on the planet. Rankings Data - Cities and Municipalities Competitive Index - CMCI Richest Cities In The World 2023 Top 10 List | Glusea.com Both these cities had high inflation and a strong currency. Hong Kong remains No. A little known fact is that L.A. is the manufacturing center of the country. Lastly, London is home to several of the most well-known Fortune Global 500 firms, including the Lloyds Banking Group, Prudential, J. Sainsbury, BP, Tesco, and Vodafone Group, amongst others. Dublin is the wealthiest city, with a per capita income of $115,094. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. Florence, Italy - 2.59% Millionaires. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. China's capital city offers services in key sectors related to finance, information technology, scientific research, and industry. New Delhi- GDP $293.6 Billion. Let's consider New York City. The cities shown in our visualization are already well-established locations for high-net-worth individuals. Top 5 Most Populated Cities in the World - NCERT Books from people staying indoors and spending more time online. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). These cities have a combined GDP of $2.4st trillion, equating to more than double that of second-place San Francisco. 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. The largest economy in states, New York Citys prosperity is rooted in Wall Street. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. 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.". City Mayors: Richest cities in the world in 2020 by GDP Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. Top 10 Richest Cities In India 2021 The top 10 riches cities in the world behind New York City were Tokyo, San Francisco Bay Area, London, Singapore, Los Angeles and Malibu, Chicago, Houston, Beijing, and Shanghai. Mumbai - City Of Dreams. Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. The methodology of calculating GDP may differ between the studies and are widely based . StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Shanghai. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. Chart. Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. Although she spends most of her time writing, she also enjoys spending time with her husband and four children, watching films, cooking, dining out, reading, motorsports, gaming, and walking along the beach next to her house with her dog. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Four cities made the list for the first time: Blackhawk, California; New Albany, Ohio; Long Grove, Illinois; and Darnestown, Maryland. The world's most expensive cities for 2022 | CNN Sy Siblings Still at Top. 50 Largest Cities in the World - 24/7 Wall St. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. 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. + - Leaflet | Tiles OpenMapTiles | Data OpenStreetMap contributors Income distibution for all U.S. cities The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. Five are new billionaires from the finance industry, including private equity wizards, . London is known for its financial and business sectors, and it attracts a significant number of high-earning professionals who contribute to its reputation as a hub of wealth and luxury. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. Here are the 10 leading cities for the wealthy for 2019. Finally, Oceania has two cities on the list, both located in Australia. Another crucial element is the neighborhood of Zhongguancun. This includes the burgeoning FinTech, or financial technology industries. In total, these 30 people control. The top 10 richest cities in the Philippines. 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. Zurich, Switzerland - 27.34% Millionaires. 2. Delhi City. The Big Apple has historically been a hub for trade and investment, due to a buzzing port and its very well connected location, with rivers and canal systems reaching out to the midwest. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. When is it OK to Buy a House Site Unseen as an Investor? 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. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. 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. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. A massive powerhouse in Seoul is Samsung. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. 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