ed 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. Home to about 393,000 millionaires, Seoul's economy is rooted in manufacturing, financial services, and transportation. 6 and No. Air Cargo News Awards 2020. dnata wins again. The typical American household earns $57,617 per year. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. Lets take a closer look at some of the top-ranking cities making the list. 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. Number of individuals with a net worth of $5 million or more: 49,005 Percentage of global population: 1.7% Paris is the capital and most populous city of France, with an estimated population of 2,150,271 residents as of 2020, in an area of 105 square kilometers (41 square miles). China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. In fact, Delhi's population can beat Tokyo by 2028. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. Statista. All maps, graphics, flags, photos and original descriptions 2023 worldatlas.com, The World's Most Populated Capital Cities. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. MacKenzie Scott is an American novelist and philanthropist. Shibuya Crossing, one of the busiest crosswalks in the world, in Tokyo, Japan Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. The methodology of calculating GDP may differ between the studies and are widely based . Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. The median home value for the lower Tribeca area is around $2.5 million. 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. Frankfurt in Germany is the second richest city after Dublin with an income of $102,941 per capita. The county seat of Loudoun is in Leesburg, where most administration activities take place. 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 Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. 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. Los Angeles is not California's only wealthy city! Get full access to all features within our Business Solutions. What is the Cost of Living in New Hampshire? If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. 1 with $13.9 billion. More than 80% of Russias, call its capital home, including mining mogul. This video will compare the top 50 richest people in the world by net worth in 2020. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. Cebu City: $660 million. The top 10. Its also host to the headquarters of around 75 percent of the worlds Fortune 500 companies. 2 on the list, but the city recorded a net loss of eight billionaire residents. The cities shown in our visualization are already well-established locations for high-net-worth individuals. 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. As a Premium user you get access to the detailed source references and background information about this statistic. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. Gautam Shantilal Adani. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. 10. Singapores richest resident. In 2019, San Francisco's tourism industry resulted in 86,111 jobs. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. 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Furthermore, being a world-class city, Seoul's cost of living is high compared to other cities in Asia, especially in regards to its real estate prices. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. Interactive map The ideal entry-level account for individual users. However, its also a city steeped in industry. The Chinese capitals tally of ten-figure-fortunes rose by six since last year to reach 67 billionaires. City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. 2. 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 10 richest cities in the Philippines. Los Angeles, USA The city of Los Angeles makes significant efforts to foster economic growth in the local community. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. Its been rapidly replaced by information tech and financial services. StartupTalky has compiled an exhaustive list of the top richest people in India for the year 2022. Show publisher information 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. In some U.S. cities, however, more than half of all households earn $70,000-plus. This site uses Akismet to reduce spam. 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. 11. Learn more about how Statista can support your business. 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. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. 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. This infographic uses information from the Henley Global Citizens Report, in partnership with New World Wealth, to rank the worlds wealthiest cities. $516.5. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. 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. Moreover, there are over 25 FortuneGlobal 500companies headquartered in Paris (which are the top companies in the world based on their revenues) including Danone, Sanofi, Christian Dior, and Finatis. Mapped: Which Countries Have the Highest Inflation? 1. Major sectors there include: real estate and fund management. 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. 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. Tokyo, Japan- GDP: $1,520 billion. Shanghai. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. The top ten richest cities in the world based on private wealth include: But the Nations Valentine has so much more to offer. In total, these 30 people control. Its wealthiest resident, , chairman and CEO of Internet media behemoth Tencent Holdings, is the, . This international city has over 192,000 resident millionaires with 34 billionaires. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. Visakhapatnam - Industrial Port Of India. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. According to Jennifer Reynolds, Pre4sident and CEO of Toronto Finance International, Torontos success is due in large part to the strength and significant growth of its financial industry. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. London City | Photo: Reuters 7. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). area followed by Delhi, Kolkata, Bangalore and Chennai. 12. Hong Kong is once again the city with the second most billionaires in the world. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. Among the top 50, Aruba will climb five spots. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. 1. . 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. Then you can access your favorite statistics via the star in the header. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. Tokyo may not be as wealthy as New York, but this megacity remains one of the richest cities in Asia. 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. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. Furthermore, 121. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. New York City is also considered the country's leader in finance due to its storied past. Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. 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. About 300 cities have population over 1,00,000. It had about 2,000 inhabitants at the time. Kolkata is the third richest city in South Asia after Mumbai and Delhi. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. 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. 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. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. The Rhine-Ruhr metropolitan area is the economic power house of Germany. Chart. This large metropolitan area has a history of being the hub of Germanys heavy industry sector.
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