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

Rising development costs and foreign competition had already, 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. Additionally, the citys real estate market is known for being expensive, with sky-high property values and rents. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. 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. Visualizing the Global Share of U.S. Stock Markets. The Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. (Video) TOP 10 RICHEST CITIES In The World 2021 (Uncover) Which is the richest city in the world 2022? Click on the headers to reorganize columns. 4, respectively. The Shenzhen Special Economic Zone or SEZ is an important business and financial services center in China. If that is the case, knowing its cost of living is vital. 1. The cannabis business is rather recent, but also encourages financial growth for the city. India is the second largest country in the world after China. . Historically speaking, Osaka has always been thought of as a major economic center of Japan. Lets take a closer look at some of the top-ranking cities making the list. From Singapore To New York City, more than 26% of the worlds 2,095 billionaires live in just 10 cities on three continents. 1. The county seat of Loudoun is in Leesburg, where most administration activities take place. 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. 11. Cities in the UAE became millionaire magnets, attracting over 4,000 millionaires in 2022. Current Health Expenditure per Capita. 2. 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. London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. 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. 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 Ryan Graves and Pinterest cofounder Ben Silbermann. On a related note, there is a sizeable population of secondary homeowners in London. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. This includes the burgeoning FinTech, or financial technology industries. Los Angeles is not California's only wealthy city! Beijing also has a sizeable billionaire population of 100 people, compared to any other international city. 30 in the index, a. If youre looking, Read More The 20 Cheapest Places to Buy Land in the U.S. 2022Continue. Kolkata- GDP $150.1 Billion. We added hundreds of new lists - see our top 101 city lists. With an estimated GDP of $310 billion, Mumbai ranks number one in the list of the richest cities in India. (March 17, 2022). In order to recoup losses, in June of 2022, the city of Shanghai released a post-lockdown business recovery plan. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. A big economic draw for San Francisco is its close proximity to Silicon Valley. 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. Today, with 272,400 millionaires, the city holds a more humble position. Business Solutions including all features. Top Cities in the World to Visit. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. 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. Despite being significantly smaller than Los Angeles, San Francisco houses more millionaires than its southern California counterpart. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. 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. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. But if this inflation is compounded with a strong national currency, you may live in one of the worlds most expensive cities. 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. This statistic is not included in your account. The Top 5 Cities in Mexico. The list of top 50 richest football clubs in the world ranked by Forbes have been revealed. The median home value for the lower Tribeca area is around $2.5 million. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. $520.1. Companies that have offices in Boston include BNY Mellon, Goldman Sachs and Microsoft. Los Angeles is a city that takes great strides to encourage economic growth. (((61/33)^(1/15))^10)*33 and (((33/21)^(1/15))^10)*21. The place is mostly known for its stunning Renaissance architecture and is . The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. With about 2,320 multi-millionaires calling Paris home, the backbone of this European city relies on hospitality, commerce, transportation, and other services. To use individual functions (e.g., mark statistics as favourites, set Singapores richest resident, Zhang Yong, is also Chinas richest restaurateur the owner of Sichuan hot pot chain Haidilao is $4.2 billion richer than he was in 2019, thanks to a 53% rise in the companys stock over the past year. Manila: $790 million. The city-state of Singapore is the wealthiest country in Asia, with a per-capita GDP of . Furthermore, 121. Due to heavy investment into research and development, high-tech companies in Shenzen have consistent government support. In pre-Covid times, Chicago clocked round 55 million tourists in 2017. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. 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. New Delhi- GDP $293.6 Billion. Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. Various lists of the richest families in the world (excluding royal families or autocratic ruling dynasties) are published internationally, by Forbes as well as other business magazines.. 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. Visakhapatnam - Industrial Port Of India. Some of them have topped the rankings for decades, while some others are less well-known. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. Palo Alto - $147,537 In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. Among the top 10 richest economies, Ireland has the fastest-growing economy with 13.04%. ", Hurun Research Institute, Leading cities with the most billionaires in 2022 Statista, https://www.statista.com/statistics/299494/billionaires-top-cities/ (last visited March 04, 2023), Leading cities with the most billionaires in 2022 [Graph], Hurun Research Institute, March 17, 2022. 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 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. 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. 13. Dallas plays host to a variety of industries, and its these industries which are responsible for the economic growth of the Dallas metropolitan area. 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. Kolkata is the financial, commercial and industrial hub of the North East region. 7 and Shanghai and Beijing staying flat at No. Tourism is another major contributor to the economy of Philadelphia. Tokyo, Japan- GDP: $1,520 billion. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. 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 . Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. 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. Everything from financial services, fashion, digital media, the food/beverage industry and tech found a home in Toronto. 3. Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. L.A. makes good use of both job training programs and development projects. For instance, billionaires like Zhang Yiming, founder of TikTok, calls the capital city home (with a net worth of about $35.6 billion 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. Learn how your comment data is processed. 1. 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. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. 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. China is crucial to the worlds supply chain, and Shenzhens container port is one of the largest. 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. Lastly, London is home to several of the most well-known Fortune Global 500 firms, including the Lloyds Banking Group, Prudential, J. Sainsbury, BP, Tesco, and Vodafone Group, amongst others. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. This is a list of cities in the world by gross domestic product (GDP). More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. Pasig City: $710 million. 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. For instance, the city of New York is a metropolitan area made up of 5 boroughs with each borough contributing to the cities overall GDP. New York City. The typical American household earns $57,617 per year. The country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. Which Countries are Buying Russian Fossil Fuels? 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). - 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. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. A little known fact is that L.A. is the manufacturing center of the country. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. The Top 25 Cities in the World in 2020. By 900,. 29. Singapore and New York City tied for the first rank amongst the worlds most expensive cities in 2022, pushing Israels Tel Aviv from the first place in 2021 to the third place in 2022. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. Ahmedabad - Textile Hub Of India. As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. Before the Ukraine invasion, Moscow was the economic hub of Russia. After their divorce, MacKenzie received a 4% stake in Amazon, which was worth about $35 billion at the time. Fortune 500 companies include Discovery Communications, Fannie Mae, Walmart and CACI International among others. 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. Wealthiest cities (amount in billions . Liz Flynn has worked as a full-time writer since 2010 after leaving a career in education. Finally, Oceania has two cities on the list, both located in Australia. Refer to sources for more information. New York City is also considered the country's leader in finance due to its storied past. The top 10. Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. Tokyo is the most fascinating city to live in but also the most densely packed. Leading cities with the most billionaires in 2022 [Graph]. The Top 5 Cities in Mexico in 2020. Hong Kong is once again the city with the second most billionaires in the world. Trip Ideas; The cities shown in our visualization are already well-established locations for high-net-worth individuals. She finds almost all topics she writes about interesting, but her favorite subjects are travel and food. 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. New York City: 107 Billionaires. 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 fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. New York's richest person and former mayor, Michael Bloomberg, is worth $59 billion. 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. 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. Macao SAR will climb from 17th in 2020 to 9th in 2021. Moscow. 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. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Surat - City Of Sun. For instance, Osaka is home to major electronics corporations like Sharp and Panasonic as well as pharmaceutical companies, food, retail and trading companies. The largest economy in states, New York Citys prosperity is rooted in Wall Street. The four cities that made the top 50 in 2019 but did not make . Mumbai - City Of Dreams. Montgomery Street is considered the Wests Wall Street and is located in San Francisco. This included plans of action to assist with rent, taxes, business subsidies and more. Other notable NYC billionaire residents include hip-hop superstar Jay-Z and Julia Koch, the widow of former Koch Industries magnate David Koch. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. Chart. Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. 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 city contributes about 30% of goods sold in Russia. The top 10 riches cities in the world behind New York City were Tokyo, San Francisco Bay Area, London, Singapore, Los Angeles and Malibu, Chicago, Houston, Beijing, and Shanghai. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. 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. As a Premium user you get access to background information and details about the release of this statistic. Some cities have some obvious billionaires that come to mind. 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. 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.). 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? This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. Cebu City: $660 million. This large metropolitan area has a history of being the hub of Germanys heavy industry sector. Beijing, China: $591.374 Billion Beijing is the capital of China and has a population of over 20 million. Delhi city is the second most populated city in the world with a 30,291,000 million population. What is the Cost of Living in New Hampshire? Are you interested in testing our business solutions? In some U.S. cities, however, more than half of all households earn $70,000-plus. Principal industries which were the engine behind Moscows economy are textile, metallurgy, energy, and chemical. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). 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 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. Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten cities. Here are the 10 leading cities for the wealthy for 2019. Major sectors there include: real estate and fund management. New York's richest resident, 476 Washington Avenue, former mayor Michael Bloomberg, has a net worth of $45 billion, making him one . According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. 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. Florence, Italy - 2.59% Millionaires. 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. Beijing is the capital of China and has a population of over 20 million. The ideal entry-level account for individual users. from people staying indoors and spending more time online. Home to both invention and innovation, animes, mangas and of course, robots, Tokyo is known as the financial center of the world. Access to this and all other statistics on 80,000 topics from, Show sources information In total, these 30 people control. Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the.