Top 10 Richest Cities in the World In terms of GDP rankings 10. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. 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. 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.". And for the sixth year in a row, more billionaires call New York City home than any other city in the world. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. Billionaire refers to U.S. dollar billionaire. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. 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. Top Cities in the World to Visit. There are 4,000 cities and towns in India. 50 Largest Cities in the World - 24/7 Wall St. 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,. 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. 9 last year. Ever since, San Francisco has remained a strong financial stronghold for the state of California. 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. 1. Mumbai - City Of Dreams. 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. These figures were taken after the market close on September 18, 2020. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. The typical American household earns $57,617 per year. Profit from the additional features of your individual account. Which cities and regions have the biggest concentrations of millionaires around the world, each with a net worth greater than $1 million (USD)? Ahmedabad - Textile Hub Of India. Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. Elon Musk Elon Musk is a South African-born Canadian-American businessman, investor & the richest person in the world. Its wealthiest resident, , chairman and CEO of Internet media behemoth Tencent Holdings, is the, . Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. statistic alerts) please log in with your personal account. The 20 Richest ZIP Codes in the USA - MoneyWise Swift reportedly owns about $40 million worth of property in the area. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. The methodology of calculating GDP may differ between the studies and are widely based . The number of millionaires has been growing steadily over the last 10 years, and if the trends of recent years hold, San Francisco could become the number one millionaire hub by 2040. The richest person in New York City is Bloomberg LP founder and former Mayor Michael Bloomberg, who spent nearly $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Here are the top 10 cities in Africa where the most rich people live New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . Trip Ideas; 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. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Learn more about how Statista can support your business. Fortune 500 companies include Comcast, Colonial Penn, Sunoco, Aramark, CIGNA, Lincoln Financial Group, and more. In fact, London is one of the chief financial centers of the world. On this list, New York City was ranked as the richest city with a total of $3 trillion in private wealth. Top 10 Richest Cities in the World - Luxatic 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 Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. 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. Top 50 Richest People in the World - Moneymint For example, Moscow's rich neighborhoods like Rublyovka contain private houses that can cost up to $60 to $80 million! This video will compare the top 50 richest people in the world by net worth in 2020. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. 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. Visualizing the Global Share of U.S. Stock Markets. India is the world's second-most populous country, with several large cities and densely inhabited areas. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. Here are the 10 leading cities for the wealthy for 2019. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. We added hundreds of new lists - see our top 101 city lists. San Francisco also relishes in its reputation as the sixth largest economy in the US. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. 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. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. Get full access to all features within our Business Solutions. Singapores richest resident. A huge part of this development was the influx of multi-national corporations. 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. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. Top 10 Poorest Countries In The World 1. 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. 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. Quezon City: $1.69 billion. Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. Among the top 50, Aruba will climb five spots. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. List of wealthiest families - Wikipedia 2 on the list, but the city recorded a net loss of eight billionaire residents. The Top 25 Cities in the World in 2020. 1. $520.1. Boasting a population of over 300,000 resident millionaires, Tokyo is also home to a dozen billionaires. Being the largest city of the country, Mumbai is extensively . Top 50 richest actors in the world: Who is the wealthiest? She was the wife of Jeff Bezos, founder of Amazon. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. Top 50 Richest Indians in 2022: Comprehensive List - StartupTalky Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. 1. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. Though affordability sounds good at face value, sitting at the bottom of the ranking isnt necessarily a coveted position. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. The top ten richest cities in the world based on private wealth include: But what are the fastest growing cities for the rich? Countries that want to attract wealthy individuals will have to apply tax-friendly policies along with other factors such as quality of life, safety, education, and access to amenities that ultra-wealthy residents value. Richest Countries in the World 2022 | Global Finance Magazine Today, with 272,400 millionaires, the city holds a more humble position. 12. The richest city in the world is Tokyo. 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. 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. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. Mapped: The Top 10 Billionaire Cities - Visual Capitalist 25 richest cities in the US: Does your metro area make the list? 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. World GDP per capita Ranking 2021 - StatisticsTimes.com The Top 5 Cities in Mexico. A big economic draw for San Francisco is its close proximity to Silicon Valley. Moscow. In other words, the city produces poor copies of everything from designer fashions to scooters. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. More than 80% of Russias, call its capital home, including mining mogul. The Top 15 Cities in Asia in 2020. Montgomery Street is considered the Wests Wall Street and is located in San Francisco. 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. 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. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. 15 Richest Cities in India (by GDP) - WorldlistMania Dubai Advantage | 50 Richest Countries in the World 2020 London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. 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. 3. 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. 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. Los Angeles, USA The city of Los Angeles makes significant efforts to foster economic growth in the local community. 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 20 Richest Cities in California (Updated for 2020) - Money Inc Top 100 Poorest Countries in the World (2023) - Information Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. The city of rich historical, cultural, political and social significance, New Delhi, ranks second on this list with a GDP of $293.6 billion. Dubai in top 10. In detail, 144 billionaires resided in the capital of China. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. These include three Indian cities, Tashkent in Uzbekistan, Almaty in Kazakhstan, Pakistans most populous city of Karachi, and Sri Lankan capitalColombo. 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 . London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. 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. 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. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. Beijing is the capital of China and has a population of over 20 million. As of 2020, there is an estimated $3 trillion worth of assets and capital in the city. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. Cebu City: $660 million. London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. from people staying indoors and spending more time online. To use individual functions (e.g., mark statistics as favourites, set You need at least a Starter Account to use this feature. List of largest companies by revenue - Wikipedia 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. Additionally, the citys real estate market is known for being expensive, with sky-high property values and rents. At 35 years old, Mark Zuckerberg is the youngest richest person by more than a decade. Which Countries Have the Lowest Inflation? Five of the 10 wealthiest cities in the world are in the US , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. - 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. By examining a cities GDP, we can get a good idea of its industries and how they contribute to the overall economic growth. Image Source. Major metropolitan areas contributing at least 2.5% of world GDP. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. Then you can access your favorite statistics via the star in the header. These initiatives include the Small Business Improvement Fund, the Chicago Recovery Grant, Special Service Area Program, Tax Increment Financing and more. . These four cities are, Singapore broke into the top 10, replacing Seoul, which was No. If you are an admin, please authenticate by logging in again. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. Standing as Russia's capital for centuries, the country's national wealth has been building in Moscow since the 1990s after the fall of the Soviet Union. The Southeast Asian city-state gained nine new billionaires since 2019, while the South Korean capital recorded a net loss of ten members of the three-comma-club. A paid subscription is required for full access. The Big Apple has historically been a hub for trade and investment, due to a buzzing port and its very well connected location, with rivers and canal systems reaching out to the midwest. Though approximately 23% of Beijing's GDP is linked to its manufacturing sector, over 80% of the city's wealth is tied to the service sector. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. Zhongguancun is considered the Silicon Valley of China and is deeply rooted in the electronics and high-tech industries such as Microsoft, Sony and Google. To make the list, the EIU examines 400+ prices for over 200 products and services in 172 cities, surveying a variety of businesses to track price fluctuations over the last year. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. American retail corporation Walmart has been the world's largest company by revenue since 2014. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion.
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