top 50 richest cities in the world 2020 top 50 richest cities in the world 2020

Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 3. $516.5. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. 9 last year. Founded in 1630, Boston is one of our countries oldest cities. The four cities that made the top 50 in 2019 but did not make . The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. The richest city in the world is Tokyo. 5. Till 2030, Tokyo city will project to be the top-most populated city on earth. MacKenzie Scott is an American novelist and philanthropist. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. Some cities have some obvious billionaires that come to mind. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Makati City: $4.48 billion. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. Well-known corporations that reside in SEZ are Tencent, Huawei and DJI. One dropoff is. In fact, Seoul is known as the most wired city in the world due to the high concentration of high-tech industries. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. 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. 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. 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. Los Angeles is a city that takes great strides to encourage economic growth. "The Sy siblings took the biggest hit in dollar terms but remain at No. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR). This site uses Akismet to reduce spam. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. Then you can access your favorite statistics via the star in the header. You need at least a Starter Account to use this feature. Hong Kong is once again the city with the second most billionaires in the world. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. However, its also a city steeped in industry. London has been the worlds wealthiest city for years, but over the past decade there has been an outflow of millionaires. 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. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. 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. 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 . Alongside its growing wealth, San Francisco is also one of the fastest growing cities in the country. Please create an employee account to be able to mark statistics as favorites. 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. to incorporate the statistic into your presentation at any time. Seoul is a gorgeous city and the economic hub of South Korea. 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. 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. San Ramon ranks among the top ten safest cities in California. These figures were taken after the market close on September 18, 2020. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. Furthermore, the Big Apple was also a popular destination for entrepreneurs and innovative businesses, furthering its reputation as a financially-savvy city. 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. Surat - City Of Sun. Industries critical for L.A.s economic success include entertainment, international trade, gaming, tourism, fashion and more. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. 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. 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. Most such agglomerations are economically, socially and culturally dominated by one city at their centre. As a Premium user you get access to the detailed source references and background information about this statistic. 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. 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. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Paris, which has topped the ECA list in the past, dropped out of the top 30. 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. Tokyo's wealth is also tied to the Tokyo Stock Exchange (TYO), regarded as one of the largest stock exchanges in the world. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. These initiatives include the Small Business Improvement Fund, the Chicago Recovery Grant, Special Service Area Program, Tax Increment Financing and more. The PPP is a way to meaure prices in different countries (and ultimate convert between currencies), based on the equal amount of goods and services that can be bought. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. 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. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. Cebu City: $660 million. Manila: $790 million. 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. The methodology of calculating GDP may differ between the studies and are widely based . 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. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. 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 New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . 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. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. Current Health Expenditure per Capita. Both these cities had high inflation and a strong currency. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Dallas Number of individuals with a net worth of $5 million or more: 36,515 Percentage of global population: 1.2% 9. 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. San Francisco has a rich economic history,,one that includes the wealth generated by the California Gold Rush. While such metrics are not all encompassing, these measurements of private wealth do help put the financial health and economic activity of some of the worlds wealthiest cities in perspective. In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. 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.). With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. Historically speaking, Osaka has always been thought of as a major economic center of Japan. Top 10 Poorest Countries In The World 1. This included plans of action to assist with rent, taxes, business subsidies and more. Washington, District of Columbia: $578.985 Billion, 4. (March 17, 2022). 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. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. The place is mostly known for its stunning Renaissance architecture and is . Use Ask Statista Research Service. In other words, the city produces poor copies of everything from designer fashions to scooters. Kolkata is the third richest city in South Asia after Mumbai and Delhi. Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. American retail corporation Walmart has been the world's largest company by revenue since 2014. 2. 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. As a Premium user you get access to background information and details about the release of this statistic. [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. Some of them have topped the rankings for decades, while some others are less well-known. 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. In fact, Delhi's population can beat Tokyo by 2028. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . Ahmedabad - Textile Hub Of India. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. In total, these 30 people control. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. The typical American household earns $57,617 per year. You only have access to basic statistics. 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. 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. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. Source: Forbes Music: Beethoven 5th Symphony 2. Beijing also has the dubious distinction of being the knock-off capital of the world. At 89 years old, Warren Buffett is the oldest richest person by 5 years. A big economic draw for San Francisco is its close proximity to Silicon Valley. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. As such, you can see how anything affecting these shipping ports will have a negative impact on world wide supply chain logistics. Boston-Cambridge-Newton, Massachusetts. It is also home to Wall Street, the financial capital of the US and the world. The Top 5 Cities in Mexico in 2020. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. Where are the German and Chinese Cities? Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Swift reportedly owns about $40 million worth of property in the area. Values soared as interest rates on loans went down in a sellers market, which made it tougher to find affordable properties. Of the top 50, the city with the biggest jump in the rankings was Austin, Texas, which moved up 18 spots from 2017 to claim No. 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. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. A huge part of this development was the influx of multi-national corporations. Palo Alto - $147,537 Singapore broke into the top 10, replacing Seoul, which was No. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. New York City is also considered the country's leader in finance due to its storied past. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. 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. 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. Which Countries are Buying Russian Fossil Fuels? India is the world's second-most populous country, with several large cities and densely inhabited areas. Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. 1. 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. You need a Statista Account for unlimited access. Caloocan City: $360 million. Loudoun County. 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. Major metropolitan areas contributing at least 2.5% of world GDP. Even though the city was riddled with the effects of the pandemic, Job growth occurred with another 5,700 jobs added. The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. Here are the 10 leading cities for the wealthy for 2019. 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. While Shenzhens export-led manufacturers have. The top ten richest cities in the world based on private wealth include: 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). In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. Once a top contender in manufacturing, today manufacturing revenue covers only around 10 percent of the economy. The richest cities in the world are determined by their gross domestic product, or GDP. 2022 Rankings of Highly Urbanized Cities. Lets take a closer look at some of the top-ranking cities making the list. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. Delhi City. 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Montgomery Street is considered the Wests Wall Street and is located in San Francisco. Geneva, Switzerland - 17.92% Millionaires. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . Since 1949, Beijing was considered one of China's most industrial cities. 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! New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. Hurun Research Institute. Mumbai - City Of Dreams. The Big Smoke is no stranger to economic prosperity. 1. 29. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. Lower down the list So, which cities are lower ranked than in previous years? 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. According to the Hurun Global Rich List 2022, the leading city with the most billionaires in 2022 was Beijing. Sy Siblings Still at Top. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. 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. Business Solutions including all features. Home to about 393,000 millionaires, Seoul's economy is rooted in manufacturing, financial services, and transportation. "Leading Cities with The Most Billionaires in 2022. 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. Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. Quezon City: $1.69 billion. 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. The top 10 richest cities in the Philippines. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. Sweeping sunsets, desert landscape, and breathtaking canyonsthese are the things that most everyone think of when someone says Arizona. Hong Kong remains No. It leverages a comprehensive data set that tracks the movements and spending habits of high-net-worth individuals in over 150 cities around the world. The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. - Full Size", "Gross domestic product (GDP) at basic prices, by census metropolitan area (CMA)", "Population estimates, July 1, by census metropolitan area and census agglomeration, 2016 boundaries", "Population on 1 January by age groups and sex - functional urban areas", "President: Almaty turns into large regional investment attractive centre", "Posio ocupada pelos maiores municpios brasileiros em relao ao Produto Interno Bruto, Est. 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. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. 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. 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. One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. Ever since, San Francisco has remained a strong financial stronghold for the state of California. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. Washington, D.C.. Singapores richest resident. Other profitable sectors include information technology, medical technology, retail, financial and legal sectors. 4, respectively. The third-wealthiest country in Asia is Japan, with just over $5.3 trillion. 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. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. . 1. Before the Ukraine invasion, Moscow was the economic hub of Russia. 3. Mapped: Which Countries Have the Highest Inflation? Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical.