30 in the index, a. Quezon City: $1.69 billion. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. Finally, Oceania has two cities on the list, both located in Australia. The richest country in the world is Luxembourg. Use Ask Statista Research Service. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. San Francisco also has the highest median household income in the country. By 2025, the city's GDP would have [] If you live in a city where many residents find it challenging to put a roof over their heads, food on their plates, and make ends meet, you live in an expensive city. Richest Places in the World According to a recent study by Forbes, the five richest cities in the world are Tokyo, New York City, Los Angeles, London, and Paris. Billionaire refers to U.S. dollar billionaire. The Top 25 Cities in the World in 2020. A massive powerhouse in Seoul is Samsung. Manila: $790 million. $520.1. 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. Hong Kong is once again the city with the second most billionaires in the world. Los Angeles, USA The city of Los Angeles makes significant efforts to foster economic growth in the local community. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the. Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. As such, you can see how anything affecting these shipping ports will have a negative impact on world wide supply chain logistics. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. Besides thriving on industries related to finance, tourism, and media, London's wealth is also linked to the London Stock Exchange (LSE). This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. Show publisher information 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. 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. 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 is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Currently, you are using a shared account. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. Chicago, which serves as the home base for 35 Fortune 500 companies, is home to 160,100 millionaires, 340 centimillionaires and 28 . The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. From Singapore To New York City, more than 26% of the worlds 2,095 billionaires live in just 10 cities on three continents. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. 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. Tokyo has 39 million residents which are 50% more than any other urban area of the world. 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. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. Other industries driving their economy are tech, tourism, and the service industries such as hospitality. Among the top 50, Aruba will climb five spots. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. About 300 cities have population over 1,00,000. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion 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. Beijing also has a sizeable billionaire population of 100 people, compared to any other international city. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. 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. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. Refer to sources for more information. 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. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. This California city is home to prominent billionaires like Mark Zuckerberg, Laurene Powell Jobs, Brian Chesky, and Jack Dorsey, with many of these billionaires possessing assets worth over $8 billion USD. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. 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. These cities have a combined GDP of $2.4st trillion, equating to more than double that of second-place San Francisco. 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. 13. 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. Please create an employee account to be able to mark statistics as favorites. Kim Kardashian- $1 billion. Pune - Oxford Of The East. I cover the world's richest people and how they made their billions. Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. 29. 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. Keep in mind that state-owned corporations in China get tremendous government support no matter what the economic conditions, even Global 500 companies like SAIC Motor and China National Petroleum. It is also home to Wall Street, the financial capital of the US and the world. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . Florence, Italy - 2.59% Millionaires. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. 12. . Montgomery Street is considered the Wests Wall Street and is located in San Francisco. In fact, Delhi's population can beat Tokyo by 2028. Macao SAR will climb from 17th in 2020 to 9th in 2021. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. 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. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. San Ramon ranks among the top ten safest cities in California. + - Leaflet | Tiles OpenMapTiles | Data OpenStreetMap contributors Income distibution for all U.S. cities Delhi City. But the Nations Valentine has so much more to offer. 4. Other Shanghai entrepreneurs are newcomers to the list, including Wang Jilei, who draws his wealth from express delivery firm ZTO Express, and Chen Rui, whose anime and entertainment site Bilibili saw an uptick in demand after it gave residents of locked down areas free access to premium content. 12. 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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. 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. 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. 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. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. 9 last year. 9 last year. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. Cities become expensive due to a variety of factors such as high demand for housing, a concentration of high-paying businesses and industries, and a high standard of living. He worked to revolutionize transportation on earth. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. 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. 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. San Francisco also relishes in its reputation as the sixth largest economy in the US. Sy Siblings Still at Top. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. Here are the 10 leading cities for the wealthy for 2019. 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. [3] List [ edit] These are of very low quality and should be avoided. 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. 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. This list is incomplete, as not all companies disclose their information to the general public. Hong Kong is once again the city with the second most billionaires in the world. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. It had about 2,000 inhabitants at the time. 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. These initiatives include the Small Business Improvement Fund, the Chicago Recovery Grant, Special Service Area Program, Tax Increment Financing and more. 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! 1 with $13.9 billion. Seven cities have population more than 3 million. 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. 1. 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. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. Boasting a population of over 300,000 resident millionaires, Tokyo is also home to a dozen billionaires. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. The largest economy in states, New York Citys prosperity is rooted in Wall Street. The four cities that made the top 50 in 2019 but did not make . In fact, London is one of the chief financial centers of the world. Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. A huge part of this development was the influx of multi-national corporations. Furthermore, 121. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Basically, the metropolitan areas of Maastricht. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. 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. 5. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. 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. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . He also praises the seafood, arts scene and welcoming atmosphere, though other critics call Seattle residents overly materialistic. 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. Register in seconds and access exclusive features. 2022 Rankings of Highly Urbanized Cities. Washington, D.C.. The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. Those include, , who heads Indias largest paint company, Asian Paints, and the, , who control adhesives and sealants maker Pidilite Industries. The ideal entry-level account for individual users. 11. Los Angeles, Chicago and Houston round out the top five. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. When is it OK to Buy a House Site Unseen as an Investor? Kolkata- GDP $150.1 Billion. 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. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. The Shenzhen Special Economic Zone or SEZ is an important business and financial services center in China. ", 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. The Top 15 Cities in Asia in 2020. Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. How does a city become one of the wealthiest in the world? Here are the Top 10 Richest Places in America and how they split their Heroes Act bailout allocation: #1. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. 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. 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. 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. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. One dropoff is. 27. Lower down the list So, which cities are lower ranked than in previous years? It checks all the boxes when it comes to being an economically successful place: physical connectedness (ports, rivers, public transporatation), investment opportunities (access to venture capital), and attracting a crowd of skilled individuals from around the globe, nurturing a culture of innovation. Loudoun County. 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. 6 and No. Indian richest cities 2021. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. 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. Pasay City: $350 million. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. Kolkata is the third richest city in South Asia after Mumbai and Delhi. Kolkata is the financial, commercial and industrial hub of the North East region. 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. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. 1. The top 10 richest cities in the Philippines. Greater Mumbai still is the most populated city in its 440 sq. 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. Ever since, San Francisco has remained a strong financial stronghold for the state of California. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. 50 Richest Countries in the World 2020. City of Clayton -$146,225. This international city is also attractive to domestic and foreign investors alike. Both these cities had high inflation and a strong currency. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. 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,. , 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. 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. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. $516.5. After all, Paris is one of the hotbeds of world tourism, its the city of love and art. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. American retail corporation Walmart has been the world's largest company by revenue since 2014. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. Ahmedabad - Textile Hub Of India. Hurun Research Institute. Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities.