15 Richest Cities in India (by GDP) - WorldlistMania Being the largest city of the country, Mumbai is extensively . 2 on the list, but the city recorded a net loss of eight billionaire residents. 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. 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. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. She was the wife of Jeff Bezos, founder of Amazon. 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. Ranked: The Top 10 Global Cities, by Ultra-Wealthy Population Other industries driving their economy are tech, tourism, and the service industries such as hospitality. Mapped: Which Countries Have the Highest Inflation? 3. 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. Image Source. While Shenzhens export-led manufacturers have struggled 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. 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. Today, Boston is a center of learning with many stellar educational institutions like MIT and Harvard, which contribute greatly to Bostons economy. 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. 11. Basically, the metropolitan areas of Maastricht. India is the second largest country in the world after China. As of 2020, there is an estimated $3 trillion worth of assets and capital in the city. 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 San Francisco Bay Area boasts 276,400 millionaires. London City | Photo: Reuters 7. Los Angeles, Chicago and Houston round out the top five. 2022 Rankings of Highly Urbanized Cities. 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. Where are the German and Chinese Cities? Five of the 10 wealthiest cities in the world are in the US Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. Use Ask Statista Research Service. The infographic above uses data from EIU to rank the world most and least expensive cities to live in. 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. Chicago, which serves as the home base for 35 Fortune 500 companies, is home to 160,100 millionaires, 340 centimillionaires and 28 . Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. Founded in 1630, Boston is one of our countries oldest cities. 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. 12. Kolkata- GDP $150.1 Billion. 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. In other words, the city produces poor copies of everything from designer fashions to scooters. City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. Its been rapidly replaced by information tech and financial services. South Koreas Wall Street is the Korea Exchange in Yeoui Island. 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. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. One dropoff is Rajan Raheja, a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. Pasay City: $350 million. Standing as one of Russia's largest industrial and financial centre, much of the country's wealth is still tied to this capital city. It had about 2,000 inhabitants at the time. I cover the world's richest people and how they made their billions. Home to thousands of millionaires, wealthy Parisian neighborhoods include the 7th Arrondissement, the Boulogne-Billancourt, Saint-Cloud, and Neuilly-sur-Seine. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. Kuwait (-4) will be the worst loser, followed by The Bahamas (-3) and Iceland (-3). The 20 Richest Cities in California (Updated for 2020) - Money Inc Liz loves the process of researching information, learning new things, and putting into words what others who share her interests might like to read. Meanwhile, seven cities in Asia with the common denominator of high-income inequality and low wages dominate the list of the worlds cheapest cities. (March 17, 2022). Let's consider New York City. 2. A little known fact is that L.A. is the manufacturing center of the country. Who are the Top 50 Richest Individuals in PH? See on Forbes List - BCG 25 richest cities in the US: Does your metro area make the list? Here are the 10 leading cities for the wealthy for 2019. 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. It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. 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.). Top Cities in the World to Visit. Macao SAR will climb from 17th in 2020 to 9th in 2021. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. Tripoli and Tehran, the capitals of Libya and Iran, respectively, follow next on this list, reflecting their weakened economies. Manila: $790 million. The 30 Richest People in the World - Wealthy Gorilla However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. 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. 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, . Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. 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. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. Unlike so many other cities bending under the weight of a post-pandemic world, Houstons economy hs gotten stronger. In the U.S., a few tax-friendly states like Texas and Florida became home to American companies moving their head offices there. Richest Cities Of India - BW Businessworld 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. World's Richest Cities: The Top 10 Cities Billionaires Call Home 2020 [1] The list is limited to the top 50 companies, all of which except Elevance Health have annual revenues exceeding US$140 billion. 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. London is ranked second with $2.7 billion in private wealth. 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. Caloocan City: $360 million. Foreign corporations such as IBM, Nestle, Hewlett-Packard and more flooded Beijing, causing a rapid economic expansion. Situated in the southern part of California, Los Angeles is known for its large population of celebrities, tech moguls, and the financially fortunate. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. Available: https://www.statista.com/statistics/299494/billionaires-top-cities/, Leading cities with the most billionaires in 2022, Available to download in PNG, PDF, XLS format, Global billionaire population by region 20121, Growth of billionaire wealth globally 2020, by industry, Age distribution of billionaires globally 2021, Value added to the wealth of the world's leading billionaires during pandemic 2021, Number of billionaires worldwide by wealth source 2021, Wealth distribution of billionaires around the world 2021, Total wealth distribution of billionaires around the world 2021, Share of the global wealth held by the richest percent 2010-2021, Distribution of billionaires worldwide 2021, by gender, Youngest billionaires globally 2022, by net worth, Richest self-made women in the United States 2022, based on net worth, Distribution of billionaires in the U.S. by gender 2022, Source of billionaire's wealth worldwide in 2020, by gender, Number of ultra high net worth individuals 2021, by region, Ultra high net worth individuals 2021, by country, Share of the world's billionaires by region 2021, Number of billionaires in Europe in 2021, by country, Wealth of billionaires around the world by region 2021, Primary industries of billionaires worldwide 2021, Breakdown of the average billionaire's wealth worldwide 2021, by assets, Most affluent people in the tech industry worldwide 2022, by net worth, Countries with the biggest emigration of millionaires 2020, Average net worth of billionaires worldwide, 2013, Top 10 countries by average wealth of billionaires 2013, Top 10 countries by the number of billionaires per capita 2013, African cities with the most billionaires, as of 2014, Educational attainment of billionaires worldwide, 2013, Number of billionaires in Africa 2013, by country, Gender distribution of billionaires worldwide, 2013, Top 10 countries by percentage of female billionaires 2014, Average number of children of billionaires worldwide, 2013, Marital status of billionaires worldwide, 2013, Source of billionaire's wealth worldwide, 2013, Average age of billionaires worldwide, 2013, Number of billionaires in select European cities 2014-2018, Top 10 countries by the percentage of female billionaires 2013, Investments of high-net-worth individuals, Find your information in our database containing over 20,000 reports, the most significant industries in the global billionaire production line. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million. Mapped: Europes Biggest Sources of Electricity by Country, Visualizing the Scale of Global Fossil Fuel Production, Visualizing U.S. Loudoun County. 1. Though famous for prominent technology companies and hundreds of start-ups across the Silicon Valley, San Francisco's wealth is tied to industries in manufacturing and tourism. According to a study by Teleport, Osaka scores well when it comes to affordable housing, community safety, business, and healthcare. 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. 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 Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Learn how your comment data is processed. In fact, such diversity plays well in times of economic hardship, which includes the recent downturn caused by the pandemic. The place is mostly known for its stunning Renaissance architecture and is . Top 10 Wealthiest Families in the World - Investopedia: Sharper insight to incorporate the statistic into your presentation at any time. Top 10 Richest Cities In The World - IndiaTimes Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities. The four cities that made the top 50 in 2019 but did not make . What is the Cost of Living in New Hampshire? Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. 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. As such when it comes to the richest cities in the world, New York City comes in at number 2. Lower down the list So, which cities are lower ranked than in previous years? The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. Global 500 | Fortune Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. 7 and Shanghai and Beijing staying flat at No. 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. 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. The largest economy in states, New York Citys prosperity is rooted in Wall Street. 10. Greater Mumbai still is the most populated city in its 440 sq. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). The Top 25 Cities in the World in 2020. 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. Top 10 Richest Cities In India 2021 The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. The wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. Photo: @Kim Kardashian West. $516.5. Industries that contribute to New York Citys economy are health care, tourism, real estate, tech, publishing, fashion, media and insurance, among others. Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. Being China's largest city, Shanghai also houses on of the world's largest ports, due to its proximity to the Yangtze River Delta. Mumbai gained one billionaire resident since 2019, losing five billionaires but adding six newcomers. . In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. The Top 5 Cities in Mexico. 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. 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. As a major commercial hub for England, a number of established companies are found in London, such as Unilever, Barclays, BP, and Shell. Los Angeles is a city that takes great strides to encourage economic growth. 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. 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 wealthy city-state has 31 billionaire residents, up from 22 last year, and replaces Seoul in the top 10. The typical American household earns $57,617 per year. 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. Kolkata is the financial, commercial and industrial hub of the North East region.