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. Despite suffering a tough downturn due to the pandemic, Shanghai remains one of the worlds richest cities. , a member of the citys Raheja real estate clan, who was worth an estimated $2.3 billion last year. the country's economy as a whole is one of the fastest growing in the world. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. 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. According to various estimates, the Japanese capital is home to 13.1 to 13.7 million people. 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. Fortune 500 companies include Comcast, Colonial Penn, Sunoco, Aramark, CIGNA, Lincoln Financial Group, and more. This international city is also attractive to domestic and foreign investors alike. Looking to the future, companies and high-net-worth individuals will inevitably move where they are treated best. 1. 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. Let me take you through the updated list of the World's richest cities as of 2022. Adding to the diversity are biotech companies and information technologies. How does a city become one of the wealthiest in the world? Manila: $790 million. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. For over 50 years, Tokyo has occupied the top spot, and shows no sign of slowing down. This is because they are supposed to get a better idea, Read More When is it OK to Buy a House Site Unseen as an Investor?Continue, You might be thinking of relocating to New Hampshire for work or other reasons. The top ten richest cities in the world based on private wealth include: Delhi City. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. 7 and Shanghai and Beijing staying flat at No. Media mogul turned politician Michael Bloomberg, founder of Bloomberg, is the . As a Premium user you get access to background information and details about the release of this statistic. How many millionaires, centimillionaires, and billionaires live in the worlds wealthiest cities? Other companies crucial to Seouls economic health include: Kia, Daewoo and Hyundai. You only have access to basic statistics. 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.). At 89 years old, Warren Buffett is the oldest richest person by 5 years. 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. Home to thousands of millionaires, wealthy Parisian neighborhoods include the 7th Arrondissement, the Boulogne-Billancourt, Saint-Cloud, and Neuilly-sur-Seine. Elon Musk Elon Musk is a South African-born Canadian-American businessman, investor & the richest person in the world. You can only download this statistic as a Premium user. Tokyo is also a major center for banking and insurance, and is home to many multinational companies like Honda and Sony. Their net worth is based on the data from 2022 available on their respective Forbes profiles. You need a Statista Account for unlimited access. The ideal entry-level account for individual users. . Profit from the additional features of your individual account. Kim Kardashian- $1 billion. 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The county seat of Loudoun is in Leesburg, where most administration activities take place. The Football Lovers Menu News Premier League Manchester City Manchester United Liverpool Chelsea Arsenal Leicester City Tottenham Hotspur West Ham United Everton Transfers Top 10 Quizzes In fact, Delhi's population can beat Tokyo by 2028. 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. 1.Tokyo, Japan (GDP - $1,520 billion) The richest city in the world in 2022 is Tokyo. These industries include manufacturing, energy, information tech, finances, telecommunications, education, and telecommunications. 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. L.A. is also abuzz with development projects, such as refurbishing businesses like Manns Chinese Theater, as well as infrastructure projects. Blessed with an affordable cost of living, two stunning shorelines, vibrant cities, and swathes of glorious scenery, its understandable, Read More The 10 Best Places to Live in Mexico for AmericansContinue, If you live in Kentucky already, then youll already be well aware that when it comes to crime, the Bluegrass State is doing pretty well for itself. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. A massive powerhouse in Seoul is Samsung. In Hong Kong, 9,530 ultra wealthy individuals resided, followed by Tokyo with 8,345 lived. New York City notched the top spot for the sixth year running, growing its count of billionaire city dwellers by eight compared to 2019. $520.1. 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. 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. 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. [Online]. Los Angeles is not California's only wealthy city! Travel + Leisure. Singapores richest resident. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Which Countries Have the Lowest Inflation? UAE in Top 20. This list is incomplete, as not all companies disclose their information to the general public. 12. U.S. Inflation: How Much Have Prices Increased? to incorporate the statistic into your presentation at any time. L.A. makes good use of both job training programs and development projects. Asia is the region with the second most millionaires with six cities in the mix. In the latest edition of the ranking, North America has a strong showing with seven of the wealthiest cities, by number of millionaires. Using data from Wealth-X, here's a look at the top 10 cities with the highest UHNW populations: It's worth noting that six of the top 10 UHNW cities are in America. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. Monaco - 29.21% Millionaires. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. New York City, USA: $1,330.000 Billion. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five. Before the Ukraine invasion, Moscow was the economic hub of Russia. The richest country in the world is Luxembourg. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Being a prominent city in Asia, Shanghai is home to over 24 million people, there are about6,180 multi-millionaires and 42 billionaires living in Shanghai. The place is mostly known for its stunning Renaissance architecture and is . If you are an admin, please authenticate by logging in again. When is it OK to Buy a House Site Unseen as an Investor? Some cities have some obvious billionaires that come to mind. A home stands in Atherton, California, U.S., on Tuesday, Feb. 18, 2020. Property prices fell 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 newcomer real estate developer Lun Ruixiang. In fact, Tokyo plays host to the top money-building organizations and minds anywhere on Earth. About 300 cities have population over 1,00,000. 2 on the list, but the city recorded a net loss of eight billionaire residents. 11. City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. 30 in the index, a. 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. 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. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. The richest cities in the world are determined by their gross domestic product, or GDP. Besides being a major educational hub and commercial space, Tokyo's economy relies on industries related to healthcare, communications, transportation, and real estate. This included plans of action to assist with rent, taxes, business subsidies and more. Hong Kong remains No. New York 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. 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 . Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries. Surprisingly, this is the Big Apples first time atop the ranking. Los Angeles, USA The city of Los Angeles makes significant efforts to foster economic growth in the local community. 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. Visakhapatnam - Industrial Port Of India. "Leading Cities with The Most Billionaires in 2022. He is worth $1 billion, becoming the richest actor in the world. Tokyo is the economic hub of Japan and is one of the most important cities in the world for business and finance. Please create an employee account to be able to mark statistics as favorites. A paid subscription is required for full access. 1. 3. 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. London City | Photo: Reuters 7. 12. 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 $640.4 Billion. Km. Europe comes in third with five cities, though only London makes into the top 10 portion of the ranking. The manufacturing and export hub across from Hong Kong added five members to the three-comma-club in the last year, all of them self-made. Show publisher information As such, you can see how anything affecting these shipping ports will have a negative impact on world wide supply chain logistics. Two of those in Beijing are new billionaires this year: Larry Xiangdong Chen of GSX Techedu and Liu Yachao of TAL Education Group, both of whom own companies that provide online education and after-school tutoring for students. Moreover, a portion of Beijing's rapid economic growth is the product of international investments, registering over 45,000 foreign-invested businesses in 2020. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. In particular, the United States claims five of the cities in the top 10, including the very top spot with New York City. These figures were taken after the market close on September 18, 2020. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. Top 10 Richest Asian Countries (2020 GDP, Int$ PPP - World Bank) China - $24.27 trillion; . 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. The LSE is one of the largest stock exchanges in Europe, encompassing assets from over 2,400 companies, with many of these companies using London as their central headquarters. Beyonc, Jay Z and Taylor Swift are just a few of the celebrities who own property in Tribeca. Moreover, much of London's wealth is concentrated in neighborhoods like Westminster, Kensington, Islington, and Chelsea. Among the top 50, Aruba will climb five spots. Newcomers to the billionaire ranks who live in San Francisco include private equity dealmaker Orlando Bravo and cloud communications entrepreneur Vlad Shmunis. In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. Dublin is the wealthiest city, with a per capita income of $115,094. 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. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. By 2025, the city's GDP would have [] The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. Palo Alto - $147,537 Many cities in India are densely inhabited, trade between them has improved, and transportation systems have been modernized. This California city is home to prominent billionaires like Mark Zuckerberg, Laurene Powell Jobs, Brian Chesky, and Jack Dorsey, with many of these billionaires possessing assets worth over $8 billion USD. Industries that have found success in the city include food processing, manufacturing, publishing, insurance and tourism. [3] List [ edit] 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. 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. 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. Cebu City: $660 million. area followed by Delhi, Kolkata, Bangalore and Chennai. However, invading a sovereign nation had its consequences, and Russias entire economy is in a state of disrepair. A good part of their revenue comes from their port, which is the largest container port in the world. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions.. Our numbers for the richest cities in the world are based on the metropolitan statistical region. Tokyo is the most fascinating city to live in but also the most densely packed. Once considered a major shipping hub to the world, that distinction has been replaced by the service industries, such as financial services. 29. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. A big economic draw for San Francisco is its close proximity to Silicon Valley. Furthermore, 121. Consumption of Fuel and Materials per Capita, Visualizing Chinas Dominance in Battery Manufacturing (2022-2027P), Mapped: The Population of Indias States Compared with Countries. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). The Fortune 500 companies hosted by Boston include: State Street, Liberty Mutual Insurance, Gillette and General Electric. 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. Other industries which thrive here are those in high-tech, scientific R&D, professional services such as legal, insurance, finance and public administration. Other Shanghai entrepreneurs are newcomers to the list, including, , who draws his wealth from express delivery firm ZTO Express, and, , whose anime and entertainment site Bilibili, an uptick in demand after it gave residents of locked down areas. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). Learn more about how Statista can support your business. Since 1949, Beijing was considered one of China's most industrial cities. 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. As a SEZ, businesses in the area receive special treatment in the form of tax benefits, which helps increase the GDP bottom line immensely. Basically, the metropolitan areas of Maastricht. In 2020, New York had the largest number of ultra wealthy individuals (UHNW), reaching 11,475 people. Fortune 500 companies located in the Rhine-Ruhr metropolitan area include: ThyssenKrupp AG, RWE AG, Bayer AG, Evonik Industries, among others. Are you interested in testing our business solutions? Burundi GDP Per Capita: 724 Burundi, located in Central Africa, is the number one poorest country in the world by current figures. Singapore is home to 249,800 millionaires making it the second richest city in Asia after Tokyo. After all, Paris is one of the hotbeds of world tourism, its the city of love and art. 2 on the list, but the city recorded a net loss of eight billionaire residents. 2. Montgomery Street is considered the Wests Wall Street and is located in San Francisco. 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.
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