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. Furthermore, Tokyo owns 10% and close to 16% of Japan's officespace and workers, respectively. 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. Additionally, approximately 18% of Japan's universities are found in Tokyo. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. Rounding out the top three cities is Tokyo, with $2.5 trillion in private wealth. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. 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. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. 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. Japans largest city is home to the Tokyo Stock Exchange, which is one of the largest stock exchanges in Asia by market capitalization. This includes the burgeoning FinTech, or financial technology industries. Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. London City | Photo: Reuters 7. 9 last year. 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. From Singapore To New York City, more than 26% of the worlds 2,095 billionaires live in just 10 cities on three continents. In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. Kolkata is the financial, commercial and industrial hub of the North East region. 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. Five are new billionaires from the finance industry, including private equity wizards, . Where Are the Richest Cities in the World? - Upscale Living Mag Ranked: The Top 10 Global Cities, by Ultra-Wealthy Population 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. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Kicking off the list is the charming Italian city of Florence - which is kind of surprising. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Ahmedabad - Textile Hub Of India. Delhi city is the second most populated city in the world with a 30,291,000 million population. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. 25 richest cities in the US: Does your metro area make the list? Richest Counties in the United States - [2023 Updated] - RichUpdates Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. As soon as this statistic is updated, you will immediately be notified via e-mail. The 50 richest countries in the world - Worlddata.info Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. Shanghai. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. Historically speaking, Osaka has always been thought of as a major economic center of Japan. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. 6 and No. Refer to sources for more information. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. Current Health Expenditure per Capita. The Top 25 Cities in the World in 2020. Richest Asian Countries 2023 - worldpopulationreview.com Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. 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. For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. As of 2020, there is an estimated $3 trillion worth of assets and capital in the city. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. The Rhine-Ruhr metropolitan area is the economic power house of Germany. 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. The Top 5 Cities in Mexico in 2020. Paris, which has topped the ECA list in the past, dropped out of the top 30. from people staying indoors and spending more time online. At 35 years old, Mark Zuckerberg is the youngest richest person by more than a decade. Till 2030, Tokyo city will project to be the top-most populated city on earth. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. List of cities by GDP - Wikipedia Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. Then you can access your favorite statistics via the star in the header. 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. 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. Unlike so many other cities bending under the weight of a post-pandemic world, Houstons economy hs gotten stronger. Mapped: Which Countries Have the Highest Inflation? 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. The 30 Richest People in the World - Wealthy Gorilla This international city has over 192,000 resident millionaires with 34 billionaires. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. There is a distinction between wealth held by identifiable individual billionaires or a "nuclear family" and the wider notion of an extended family or a historical "dynasty," where the wealth of a . Macao SAR will climb from 17th in 2020 to 9th in 2021. 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. Most of the cities in our list have a similar history in terms of long-standing economical power (Tokyo, Paris, London), while others seem to have gained most of their wealth in the past 2 to 3 decades (San Francisco.). 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. If we're looking at cities in terms of total wealth, then the Big Apple leads the pack by a country mile. 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. 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. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. Billionaire refers to U.S. dollar billionaire. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. 5. Kim Kardashian- $1 billion. Richest Resident: Colin Zheng Huang, $55.3 Billion Shanghai remained at number six despite adding 18 new billionaires and Colin Zheng Huang is the richest resident of the city. In total, these 30 people control. One dropoff is. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. 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 Top 10 Richest Cities in the World with Most Billionaires Beijing also has the dubious distinction of being the knock-off capital of the world. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. Top 10 Poorest Countries In The World 1. 50 Richest Countries in the World 2020. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Greater Mumbai still is the most populated city in its 440 sq. 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. The 30 Richest People In The World 2020 | Celebrity Net Worth Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. London is ranked second with $2.7 billion in private wealth. These are of very low quality and should be avoided. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. Statista. This may not be surprising, considering the U.S. is the world's largest wealth marketit holds over 29% of the world's wealth. The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. The Private Industry Council works to promote the local economy via job training programs. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. 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. The top ten richest cities in the world based on private wealth include: 1 with $13.9 billion. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. Zurich, Switzerland - 27.34% Millionaires. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. Seven cities have population more than 3 million. 2022 Rankings of Highly Urbanized Cities. + - Leaflet | Tiles OpenMapTiles | Data OpenStreetMap contributors Income distibution for all U.S. cities Pune - Oxford Of The East. 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. Photo: @Kim Kardashian West. In fact, Delhi's population can beat Tokyo by 2028. 30 in the index, a. Basically, the metropolitan areas of Maastricht. This video will compare the top 50 richest people in the world by net worth in 2020. 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. The Top 15 Cities in Asia in 2020. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. Gautam Shantilal Adani. 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. Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. 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.". The Top 5 Cities in Mexico. 2 on the list, but the city recorded a net loss of eight billionaire residents. Loudoun County. area followed by Delhi, Kolkata, Bangalore and Chennai. 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). Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. Washington, District of Columbia: $578.985 Billion, 4. China's capital city offers services in key sectors related to finance, information technology, scientific research, and industry. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. The top 10 richest cities in the Philippines. StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). Profit from the additional features of your individual account.