By 500 A.D., Constantinople modern-day Istanbul was home to about half a million people (it's now the fourth-largest city on the planet). Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Caloocan City: $360 million. 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. NYC has held the title of the wealthiest city in the world for many decades now, housing around 59 billionaires and a whopping 345,600 millionaires! 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 Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. 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 San Francisco Bay Area boasts 276,400 millionaires. Major metropolitan areas contributing at least 2.5% of world GDP. Gautam Shantilal Adani. With about 2,320 multi-millionaires calling Paris home, the backbone of this European city relies on hospitality, commerce, transportation, and other services. A good part of their revenue comes from their port, which is the largest container port in the world. Which Countries are Buying Russian Fossil Fuels? 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. New York, U.S . Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. Washington, District of Columbia: $578.985 Billion, 4. Taguig City: $480 million. Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities. Furthermore, Tokyo owns 10% and close to 16% of Japan's officespace and workers, respectively. 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Once a leader in the manufacturing industry, that industry has been bowing to more modern industries like high tech, financial services and electronics. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. 4. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. 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. Refer to sources for more information. 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. Singapore and New York City tied for the first rank amongst the worlds most expensive cities in 2022, pushing Israels Tel Aviv from the first place in 2021 to the third place in 2022. Surat - City Of Sun. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. You only have access to basic statistics. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. Among the top 50, Aruba will climb five spots. New Delhi- GDP $293.6 Billion. 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. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. The Big Smoke is no stranger to economic prosperity. 10. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. 2. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. Among the top 50 economies having the highest gdp per capita, Macao SAR . Image Source. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. 1 with $13.9 billion. The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. from people staying indoors and spending more time online. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. In some U.S. cities, however, more than half of all households earn $70,000-plus. Florence, Italy - 2.59% Millionaires. Where are the German and Chinese Cities? Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. Current Health Expenditure per Capita. 10. San Ramon ranks among the top ten safest cities in California. 1. The Top 5 Cities in Mexico. 27. 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. India is the second largest country in the world after China. These four cities are, Singapore broke into the top 10, replacing Seoul, which was No. , 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. L.A. makes good use of both job training programs and development projects. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Each of the columns in the table is sortable by pressing on the arrows at the head of the column: Cities (metropolitan areas) by percentage of national GDP. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). The cannabis business is rather recent, but also encourages financial growth for the city. Though San Francisco relishes in its economically wealthy reputation due to the nature of Silicon Valley and its billionaire population, Los Angeles enjoys a similar status. area followed by Delhi, Kolkata, Bangalore and Chennai. For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. 4, respectively. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. Ahmedabad - Textile Hub Of India. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. The four cities that made the top 50 in 2019 but did not make . The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. 13. 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. Business Solutions including all features. Travel + Leisure. 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. , who is also the richest person in the nation. These initiatives include the Small Business Improvement Fund, the Chicago Recovery Grant, Special Service Area Program, Tax Increment Financing and more. The City of Chicagos economy is home to a strong financial sector which includes the Chicago Board of Trade, NYSE Arca, Chicago Mercantile Exchange, Chicago Board Options Exchange and the Chicago Stock Exchange. As a Premium user you get access to the detailed source references and background information about this statistic. She was the wife of Jeff Bezos, founder of Amazon. Delhi city is the second most populated city in the world with a 30,291,000 million population. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. Los Angeles is a city that takes great strides to encourage economic growth. Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. The Top 25 Cities in the World in 2020. 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. Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. In addition, Singapores political stability, low crime rate, and high standard of living have also contributed to its appeal as a place to live and work. (((61/33)^(1/15))^10)*33 and (((33/21)^(1/15))^10)*21. 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. Penthouses in the 30 Park Place complex are currently listed for 10 times as much. Shanghai. The Private Industry Council works to promote the local economy via job training programs. 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. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. Tourism is another major contributor to the economy of Philadelphia. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. Get full access to all features within our Business Solutions. In, Hurun Research Institute. Using data from Wealth-X, here's a look at the top 10 cities with the highest UHNW populations: It's worth noting that six of the top 10 UHNW cities are in America. He worked to revolutionize transportation on earth. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. After all, its Philadelphias rich history that fuels the tourist trade that brings over 2 million visitors from both the U.S. and foreign countries every year. 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. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. Seven cities have population more than 3 million. Which Countries Have the Lowest Inflation? Singapores richest resident. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. Cebu City: $660 million. Moscow. New York City (NYC), which lost the number one slot to Beijing in 2021, has added eight new billionaires with a total net worth of $640.4 Billion. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. March 17, 2022. Rounding out the top three cities is Tokyo, with $2.5 trillion in private wealth. Moreover, a portion of Beijing's rapid economic growth is the product of international investments, registering over 45,000 foreign-invested businesses in 2020. The county seat of Loudoun is in Leesburg, where most administration activities take place. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. Its known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. Newsletter. Four cities made the list for the first time: Blackhawk, California; New Albany, Ohio; Long Grove, Illinois; and Darnestown, Maryland. 50 Richest Countries in the World 2020. 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. Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. 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. 1. I cover the world's richest people and how they made their billions. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Here are the 10 leading cities for the wealthy for 2019. Some of them have topped the rankings for decades, while some others are less well-known. - 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. Lets take a closer look at some of the top-ranking cities making the list. 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. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? Boasting a population of over 300,000 resident millionaires, Tokyo is also home to a dozen billionaires. City of Clayton -$146,225. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. 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. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. You need a Statista Account for unlimited access. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the. Seoul is a gorgeous city and the economic hub of South Korea. But the Nations Valentine has so much more to offer. More than 80% of Russias, call its capital home, including mining mogul. 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. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Before the Ukraine invasion, Moscow was the economic hub of Russia. Lower down the list So, which cities are lower ranked than in previous years? In the list of Forbes' Philippines' 50 Richest 2020, the Sy siblings remain at the number one spot of Philippines' Rich List for this year with a net worth of $13.9 Billion despite losing $3.3 Billion due to the pandemic. It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. At its peak, General Motors enjoyed a 50% market share in the United States. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. Though famous for prominent technology companies and hundreds of start-ups across the Silicon Valley, San Francisco's wealth is tied to industries in manufacturing and tourism. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. 12. These include three Indian cities, Tashkent in Uzbekistan, Almaty in Kazakhstan, Pakistans most populous city of Karachi, and Sri Lankan capitalColombo. Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. The Rhine-Ruhr metropolitan area is the economic power house of Germany. 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. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. A paid subscription is required for full access. Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. The richest cities in the world are determined by their gross domestic product, or GDP. the country's economy as a whole is one of the fastest growing in the world. If you are an admin, please authenticate by logging in again. New York City, USA: $1,330.000 Billion. Use Ask Statista Research Service. 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. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. In terms of asset management, FinTech, and ESG investment, Tokyos continued growth as the worlds most foremost economies appears secured. Leading cities with the most billionaires in 2022 [Graph]. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. According to Jennifer Reynolds, Pre4sident and CEO of Toronto Finance International, Torontos success is due in large part to the strength and significant growth of its financial industry. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. The city contributes about 30% of goods sold in Russia. A big economic draw for San Francisco is its close proximity to Silicon Valley. 7 and Shanghai and Beijing staying flat at No. 2022 Rankings of Highly Urbanized Cities. Two of those in Beijing are new billionaires this year: of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students. Asia is the region with the second most millionaires with six cities in the mix. 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, . 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. Among Singapores newcomers are gaming tycoons, , cofounders of the online gaming and e-commerce firm Sea; both industries have. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. San Francisco also has the highest median household income in the country. New York City. Finally, Oceania has two cities on the list, both located in Australia. $520.1. Basically, the metropolitan areas of Maastricht. Atherton, CA (income: $525,324/ bailout: $3.8 million) - With a median home price of. Top 10 Poorest Countries In The World 1. London is ranked second with $2.7 billion in private wealth. 29. Till 2030, Tokyo city will project to be the top-most populated city on earth. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . Geneva, Switzerland - 17.92% Millionaires. 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,. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. Pasay City: $350 million. This is due in part to the countrys strong economic growth and favorable business environment, which has attracted many wealthy individuals and families to the country. Then you can access your favorite statistics via the star in the header. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. This international city has over 192,000 resident millionaires with 34 billionaires. How does a city become one of the wealthiest in the world? The Periodic Table of Commodity Returns (2013-2022), Visualizing 25 Years of Lithium Production, by Country, Ranked: The Worlds Largest Copper Producers, All the Metals We Mined in 2021: Visualized, Chart: Automakers Adoption of Fuel-Saving Technologies, Explainer: What to Know About the Ohio Train Derailment, A Visual Crash Course on Geothermal Energy. He is popularly known for his role as Madea on House of Payne. Greater Mumbai still is the most populated city in its 440 sq. Km. 1. It is also home to Wall Street, the financial capital of the US and the world. 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. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Their net worth is based on the data from 2022 available on their respective Forbes profiles. Montgomery Street is considered the Wests Wall Street and is located in San Francisco. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars.