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. Follow Us. 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. 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. For instance, billionaires like Zhang Yiming, founder of TikTok, calls the capital city home (with a net worth of about $35.6 billion USD)! Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. But the Nations Valentine has so much more to offer. Trip Ideas; For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. Its wealthiest resident, Ma Huateng, chairman and CEO of Internet media behemoth Tencent Holdings, is the second-richest person in China, after Alibaba cofounder Jack Ma. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. Its been rapidly replaced by information tech and financial services. 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, . The place is mostly known for its stunning Renaissance architecture and is . It takes decades of consistency for these factors turn a place around in terms of success and richness; a city can not accumulate wealth overnight, and if it does, this wealth will most likely not stick around for long. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. 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. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. 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Consumption of Fuel and Materials per Capita, Visualizing Chinas Dominance in Battery Manufacturing (2022-2027P), Mapped: The Population of Indias States Compared with Countries. 50 Richest Countries in the World 2020. Founded in 1630, Boston is one of our countries oldest cities. Gautam Shantilal Adani. 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. Surat - City Of Sun. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. Tourism is another major contributor to the economy of Philadelphia. Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. 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. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. 4, respectively. Washington, D.C.. Los Angeles is not California's only wealthy city! Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. Another industry that rains gobs of revenue on the City of London is the tourism industry with over 20 million visitors per year. Furthermore, 121. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. 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. Ahmedabad - Textile Hub Of India. 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. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Basically, the metropolitan areas of Maastricht. 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. 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. The country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. These figures were taken after the market close on September 18, 2020. 30 in the index, a. 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. One dropoff is. 10. 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. Number of individuals with a net worth of $5 million or more: 49,005 Percentage of global population: 1.7% Paris is the capital and most populous city of France, with an estimated population of 2,150,271 residents as of 2020, in an area of 105 square kilometers (41 square miles). When is it OK to Buy a House Site Unseen as an Investor? MacKenzie Scott is an American novelist and philanthropist. 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. 10. 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.). A good part of their revenue comes from their port, which is the largest container port in the world. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. New York, U.S . 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. 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. These four cities are, Singapore broke into the top 10, replacing Seoul, which was No. At its peak, General Motors enjoyed a 50% market share in the United States. The Shenzhen Special Economic Zone or SEZ is an important business and financial services center in China. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. India is the second largest country in the world after China. On this list, New York City was ranked as the richest city with a total of $3 trillion in private wealth. Dublin is the wealthiest city, with a per capita income of $115,094. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. Other notable NYC billionaire residents include hip-hop superstar Jay-Z and Julia Koch, the widow of former Koch Industries magnate David Koch. Aside from establishing the NYSE in the early 19th century (formerly known as the New York Stock and Exchange Board), the city was set in a convenient location for trading, due its proximity to the Hudson River and the Great Lakes. Its known as the mecca of tech innovation, and as a result, the region has a high concentration of wealthy individuals. 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). 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. Get full access to all features within our Business Solutions. We added hundreds of new lists - see our top 101 city lists. Kicking off the list is the charming Italian city of Florence - which is kind of surprising. Current Health Expenditure per Capita. It is through the electric car maker Tesla and in space by rocket produced by SpaceX. Some of them have topped the rankings for decades, while some others are less well-known. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. Show publisher information Travel + Leisure. Otherwise, the city serves as a global financial centre, due to its large abundance of banks, insurance companies, and financial service centres. 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. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker. Newcomers from other sectors also joined the ranks, including AI pioneer, Hong Kong remains No. Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. However, its also a city steeped in industry. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. The Private Industry Council works to promote the local economy via job training programs. Does your team make it in the top fifty richest soccer clubs in 2022? Its no surprise to anyone that a good chunk of the Paris economy is the tourist trade. Billionaire refers to U.S. dollar billionaire. He is worth $1 billion, becoming the richest actor in the world. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. 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. He worked to revolutionize transportation on earth. 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. 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 county seat of Loudoun is in Leesburg, where most administration activities take place. The Top 5 Cities in Mexico. 9 last year. This includes the burgeoning FinTech, or financial technology industries. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, The World's Most Populated Capital Cities. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. 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. The richest person in New York City is Bloomberg LP founder and former Mayor, $1 billion of his $48 billion fortune on a failed presidential campaign before dropping out in March to endorse Joe Biden. Here are the 10 leading cities for the wealthy for 2019. For example, Moscow's rich neighborhoods like Rublyovka contain private houses that can cost up to $60 to $80 million! The typical American household earns $57,617 per year. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. 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. The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. 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 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 little known fact is that L.A. is the manufacturing center of the country. Wealthiest cities (amount in billions . Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. 2. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. 5. Pasay City: $350 million. In fact, the average annualy income in these neighborhoods is typically over 100,000. If you are an admin, please authenticate by logging in again. 3. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. Monaco - 29.21% Millionaires. To use individual functions (e.g., mark statistics as favourites, set statistic alerts) please log in with your personal account. Hong Kong remains No. 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. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. 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. 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. Caloocan City: $360 million. 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. Penthouses in the 30 Park Place complex are currently listed for 10 times as much. [3] List [ edit] The largest economy in states, New York Citys prosperity is rooted in Wall Street. Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. 6 and No. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. The city contributes about 30% of goods sold in Russia. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. 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. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. 2. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Most such agglomerations are economically, socially and culturally dominated by one city at their centre. He is popularly known for his role as Madea on House of Payne. Which Countries Have the Lowest Inflation? But what are the fastest growing cities for the rich? In, Hurun Research Institute. New York City, USA: $1,330.000 Billion. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Kolkata is house of many Indian corporations like Coal India Limited, ITC Limited, Britannia Industries, Allahabad Bank,. The richest country in the world is Luxembourg. Delhi City. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. 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. 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. Profit from the additional features of your individual account. Two of those in Beijing are new billionaires this year: Larry Xiangdong Chen of GSX Techedu and Liu Yachao of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students. 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. Taguig City: $480 million. Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? Sy Siblings Still at Top. 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. 11. Chart. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. The top ten richest cities in the world based on private wealth include: Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Manila: $790 million. "Leading Cities with The Most Billionaires in 2022. It is home to 304,900 resident millionaires, making it the city with the second most millionaires in the world. L.A. makes good use of both job training programs and development projects. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. Surprisingly, this is the Big Apples first time atop the ranking. Los Angeles is a city that takes great strides to encourage economic growth. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International 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. And for the sixth year in a row, more billionaires call New York City home than any other city in the world. The city by the bay has five fewer billionaires than a year ago in part because fortunes fell below $1 billion for former Uber CEO, . It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail 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. Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. Makati City: $4.48 billion. Newcomers from other sectors also joined the ranks, including AI pioneer Daniel Dines and Brooklyn native Jay-Z. 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! Hong Kong is once again the city with the second most billionaires in the world. 1. area followed by Delhi, Kolkata, Bangalore and Chennai. Statista. Visualizing the Global Share of U.S. Stock Markets. Image Source. Tokyo is the most fascinating city to live in but also the most densely packed. 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. 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. This international city has over 192,000 resident millionaires with 34 billionaires. In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. (March 17, 2022). Hong Kong is once again the city with the second most billionaires in the world. 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. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. 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. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. 2022 Rankings of Highly Urbanized Cities. Los Angeles, USA The city of Los Angeles makes significant efforts to foster economic growth in the local community. the country's economy as a whole is one of the fastest growing in the world. Both these cities had high inflation and a strong currency. Once a leader in the manufacturing industry, that industry has been bowing to more modern industries like high tech, financial services and electronics. With about 2,320 multi-millionaires calling Paris home, the backbone of this European city relies on hospitality, commerce, transportation, and other services. The median home value for the lower Tribeca area is around $2.5 million. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. Then you can access your favorite statistics via the star in the header. E-commerce has seen a boom in China since millions of citizens were locked down in an effort to slow the spread of the coronavirus in January, boosting the fortunes of online retail titans like Colin Huang. 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 . Among the top 50, Aruba will climb five spots. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. There are 4,000 cities and towns in India. The richest city in the world is Tokyo. Historically speaking, Osaka has always been thought of as a major economic center of Japan. Another crucial element is the neighborhood of Zhongguancun. Greater Mumbai still is the most populated city in its 440 sq. Before the Ukraine invasion, Moscow was the economic hub of Russia. Asia is the region with the second most millionaires with six cities in the mix. 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. The Top 15 Cities in Asia in 2020. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. Some cities have some obvious billionaires that come to mind. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. London, United Kingdom: $978.402 Billion, 2. Access to this and all other statistics on 80,000 topics from, Show sources information Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries.
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