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. Refer to sources for more information. These include three Indian cities, Tashkent in Uzbekistan, Almaty in Kazakhstan, Pakistans most populous city of Karachi, and Sri Lankan capitalColombo. The city with one of the most expensive real estate markets worldwide, Hong Kong ranked fourth in this list, followed by Los Angeles, which moved up from its ninth rank in 2021. Today, with 272,400 millionaires, the city holds a more humble position. A little known fact is that L.A. is the manufacturing center of the country. 10. In detail, 144 billionaires resided in the capital of China. 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 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . After all, Paris is one of the hotbeds of world tourism, its the city of love and art. U.S. Inflation: How Much Have Prices Increased? This site uses Akismet to reduce spam. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. The median home value for the lower Tribeca area is around $2.5 million. 10. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. In fact, the average annualy income in these neighborhoods is typically over 100,000. 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. 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. 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. New York City: 107 Billionaires. Beijing is the capital of China and has a population of over 20 million. Beijing also has the dubious distinction of being the knock-off capital of the world. Both these cities had high inflation and a strong currency. 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. You only have access to basic statistics. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. 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. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. . 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. 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. Additionally, approximately 18% of Japan's universities are found in Tokyo. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Tourism is another major contributor to the economy of Philadelphia. Major metropolitan areas contributing at least 2.5% of world GDP. Elon Musk Elon Musk is a South African-born Canadian-American businessman, investor & the richest person in the world. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. Seoul is a gorgeous city and the economic hub of South Korea. (March 17, 2022). Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. What is the Cost of Living in New Hampshire? Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? 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. As a Premium user you get access to the detailed source references and background information about this statistic. Km. 12. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. American retail corporation Walmart has been the world's largest company by revenue since 2014. Surat - City Of Sun. Florence, Italy - 2.59% 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,. Palo Alto - $147,537 Monaco - 29.21% Millionaires. 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. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. Though residents are keen on investing in the real estate market, younger generations are finding it difficult to afford a home in Seoul due to the rising cost of real estate property and rising economic insecurity. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. After their divorce, MacKenzie received a 4% stake in Amazon, which was worth about $35 billion at the time. [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. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. 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. In fact, according to this chart, you can see that manufacturing takes the lead with 16.6 percent followed by retail at 16.6 percent and real estate at 11.4 percent. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. When is it OK to Buy a House Site Unseen as an Investor? Quezon City: $1.69 billion. You can only download this statistic as a Premium user. London is ranked second with $2.7 billion in private wealth. 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. Top 10 Poorest Countries In The World 1. Other notable NYC billionaire residents include hip-hop superstar Jay-Z and Julia Koch, the widow of former Koch Industries magnate David Koch. 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. 1. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. The Top 25 Cities in the World in 2020. With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. The USA is the only country with a large surface area and population among the highest-ranking nations, ranking eleventh. $516.5. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. 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. 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. The Football Lovers Menu News Premier League Manchester City Manchester United Liverpool Chelsea Arsenal Leicester City Tottenham Hotspur West Ham United Everton Transfers Top 10 Quizzes Founded in 1630, Boston is one of our countries oldest cities. Among the top 50, Aruba will climb five spots. For example, Moscow's rich neighborhoods like Rublyovka contain private houses that can cost up to $60 to $80 million! 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. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Though affordability sounds good at face value, sitting at the bottom of the ranking isnt necessarily a coveted position. The metropolitan area of Rhine-Ruhr is divided into 3 regions, and each region contributes to the GDP of the entire Rhine-Ruhr metropolitan area. Consumption of Fuel and Materials per Capita, Visualizing Chinas Dominance in Battery Manufacturing (2022-2027P), Mapped: The Population of Indias States Compared with Countries. Learn how your comment data is processed. 7 and Shanghai and Beijing staying flat at No. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. Image Source. 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 . Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. 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. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. 1 with $13.9 billion. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). The PPP value of a city (or country) is commonly used by macroeconomic analysts and economists, as its a popular metric to determine a city's standard of living and economic prosperity. - Full Size", "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. Wealthiest cities (amount in billions . Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. 1. Then you can access your favorite statistics via the star in the header. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Singapores richest resident. Most affluent women worldwide 2022, by net worth, Worldwide wealth distribution by net worth of individuals 2021, Countries with the highest wealth per adult 2021. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. 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. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. It is the largest urban economy on the planet. The typical American household earns $57,617 per year. Trip Ideas; Adding to the diversity are biotech companies and information technologies. Profit from the additional features of your individual account. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. Chart. City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. Asia is the region with the second most millionaires with six cities in the mix. Historically speaking, Osaka has always been thought of as a major economic center of Japan. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. Pasay City: $350 million. 27. 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. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. 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. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. 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 Where are the German and Chinese Cities? Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Though still bruised and battered by the effects of the pandemic, New York City is holding true to its reputation as a tough and resourceful city. Till 2030, Tokyo city will project to be the top-most populated city on earth. 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. Ranked: The Worlds Richest Billionaires Over the Past 10 Years, All of the Worlds Money and Markets in One Visualization (2022), The U.S. and China Account for Half the Worlds Household Wealth, Charting the Relationship Between Wealth and Happiness, by Country, Mapped: The Wealthiest Billionaire in Each U.S. State in 2022, Poll: Inflation is the Top Financial Concern for Americans, From New York to Damascus, this infographic uses EIU cost of living data to rank the worlds most and least expensive cities to live in. 10. New York City. Newsletter. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. 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. Moreover, a portion of Beijing's rapid economic growth is the product of international investments, registering over 45,000 foreign-invested businesses in 2020. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Washington, D.C.. San Ramon ranks among the top ten safest cities in California. Caloocan City: $360 million. 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. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. 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. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. Before the Ukraine invasion, Moscow was the economic hub of Russia. 2. 2022 Rankings of Highly Urbanized Cities. As a Premium user you get access to background information and details about the release of this statistic. Moscow. Hong Kong is once again the city with the second most billionaires in the world. The place is mostly known for its stunning Renaissance architecture and is . Billionaire refers to U.S. dollar billionaire. 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. On this list, New York City was ranked as the richest city with a total of $3 trillion in private wealth. I cover the world's richest people and how they made their billions. Currently, you are using a shared account. Air Cargo News Awards 2020. dnata wins again. Dublin is the wealthiest city, with a per capita income of $115,094. He worked to revolutionize transportation on earth. Furthermore, Tokyo owns 10% and close to 16% of Japan's officespace and workers, respectively. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. 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. This includes the burgeoning FinTech, or financial technology industries. Are you interested in testing our business solutions? Newcomers from other sectors also joined the ranks, including AI pioneer, Hong Kong remains No. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony. The 150 richest cities in the world by GDP in 2020 11 March 2007: The tables provide GDP figures for cities and their surrounding urban areas in 2020. Delhi City. Manila: $790 million. Fortune 500 companies include Comcast, Colonial Penn, Sunoco, Aramark, CIGNA, Lincoln Financial Group, and more. This large metropolitan area has a history of being the hub of Germanys heavy industry sector. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. Singapore has one of the highest densities of millionaire households in Asia, with over 5% of households having at least $1 million USD in net financial assets. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. March 17, 2022. 3. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. 2. There are 4,000 cities and towns in India. The city contributes about 30% of goods sold in Russia. Tokyo has 39 million residents which are 50% more than any other urban area of the world. Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. Among the top 50 economies having the highest gdp per capita, Macao SAR . Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. The country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. The Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. 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. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. Please do not hesitate to contact me. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. 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! Home to thousands of millionaires, wealthy Parisian neighborhoods include the 7th Arrondissement, the Boulogne-Billancourt, Saint-Cloud, and Neuilly-sur-Seine. Top Cities in the World to Visit. [Online]. 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. Current Health Expenditure per Capita. It is also home to Wall Street, the financial capital of the US and the world. Here are the Top 10 Richest Places in America and how they split their Heroes Act bailout allocation: #1. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. 24/7 Wall Street reviewed income levels in 382 metropolitan . China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. Reportedly, Moscovites earn a higher salary compared to national average, with many much of their income tied to renting real estate property and entrepreneurial ventures. Home to the New York Stock Exchange (NYSE) and the famous American street of Wall Street, New York is regarded as one of the world's wealthiest cities. Organisation for Economic Co-operation and Development, List of most expensive cities for expatriate employees, List of country subdivisions by GDP over 200 billion US dollars, "Gross Domestic Product: Implicit Price Deflator", "Standard country or area codes for statistical use (M49): Geographic Regions", "Global Wealth GDP Nominal Distribution: Who Are The Leaders Of The Global Economy? Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. Leading cities with the most billionaires in 2022 [Graph]. 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. Does your team make it in the top fifty richest soccer clubs in 2022? 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. The Top 15 Cities in Asia in 2020. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, The World's Most Populated Capital Cities. If you are an admin, please authenticate by logging in again. The Top 5 Cities in Mexico in 2020. Ahmedabad - Textile Hub Of India. 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. The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. South Koreas Wall Street is the Korea Exchange in Yeoui Island. 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. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. 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. The international city of romance boasts an economically wealthy status. 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. The billionaire's rank, nationality, and source of his or her wealth is listed. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. RANKED: These Are The 50 Richest Towns To Live In The United States, 2020 Sophie Ireland C-Suite Lifestyle February 21, 2020 With an average household income of more than $525,000, Atherton, California is the richest town in the United States, that's according to a Bloomberg report. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). 3. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. Visakhapatnam - Industrial Port Of India. Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. 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! 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. Geneva, Switzerland - 17.92% Millionaires. Show publisher information City of Clayton -$146,225. 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. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. 2 on the list, but the city recorded a net loss of eight billionaire residents. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. London City | Photo: Reuters 7. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. At its peak, General Motors enjoyed a 50% market share in the United States. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. These cities have a combined GDP of $2.4st trillion, equating to more than double that of second-place San Francisco. 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.

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