In 2022, cities with strong oil and gas industries like Riyadh, Sharjah, Dubai, Luanda, Abu Dhabi, Doha, and Lagos grew exceptionally. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Liz loves the process of researching information, learning new things, and putting into words what others who share her interests might like to read. 1. statistic alerts) please log in with your personal account. I cover the world's richest people and how they made their billions. You need at least a Starter Account to use this feature. One dropoff is. Despite its picture of wealth, only a small percentage of Seoul's population claim to be wealthy. Register in seconds and access exclusive features. 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. Refer to sources for more information. 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. Cities may be defined as the cities proper, the extent of their urban area, or their metropolitan regions. City employment is driven by AT & T, Walgreens, Abbott Labs, the CTA, Walmart and Allstate Insurance, among others. Chicago, which serves as the home base for 35 Fortune 500 companies, is home to 160,100 millionaires, 340 centimillionaires and 28 . Penthouses in the 30 Park Place complex are currently listed for 10 times as much. Its no surprise that its capital city of Damascus has maintained its position as the worlds cheapest city. Beijing's richest billionaire is the founder of TikTok (among other things), Zhang Yiming with a net worth of $35.6 billion. 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. Historically speaking, Osaka has always been thought of as a major economic center of Japan. Rounding out the top three cities is Tokyo, with $2.5 trillion in private wealth. London and Paris are the major and richest cities in Europe with a GDP of US$835 billion and US$822 billion respectively. London is known for its financial and business sectors, and it attracts a significant number of high-earning professionals who contribute to its reputation as a hub of wealth and luxury. 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. In, Hurun Research Institute. The Richest Cities are shown below, based on GDP (Gross Domestic Product) data from 2011. 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.. Houstons economy is diverse, from the worlds largest petrochemical manufacturing center to health care and medical research, real estate, finance, and information tech industries. This site uses Akismet to reduce spam. Furthermore, 121. Toronto is the second largest financial center in North America, Like New York City, Torontos financial hub is populated by diverse industries. Loudoun County is located in the Commonwealth Virginia, with a population of 375,000 people. 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. Visualizing the Global Share of U.S. Stock Markets. Both these cities had high inflation and a strong currency. 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. As soon as this statistic is updated, you will immediately be notified via e-mail. 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. 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. But the Nations Valentine has so much more to offer. The city of rich historical, cultural, political and social significance, New Delhi, ranks second on this list with a GDP of $293.6 billion. Among Singapores newcomers are gaming tycoons, , cofounders of the online gaming and e-commerce firm Sea; both industries have. London: 63 Billionaires Since Last Year: +7 Total Net Worth: $316.1 Billion Richest Resident: Len Blavatnik, $32 Billion [3] List [ edit] Shanghai. . 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. Furthermore, Los Angeles' wealth is also tied to its appeal to immigrants and innovative companies involved in information and technology. 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. The Big Apple has historically been a hub for trade and investment, due to a buzzing port and its very well connected location, with rivers and canal systems reaching out to the midwest. For the fourth straight year, Atherton topped Bloomberg's Richest Places annual index. Asia continues to dominate the list of the worlds least expensive cities, followed by parts of North Africa and the Middle East. Fortune Global 500 companies in Tokyo include: Honda Motors, Hitachi, Sony, Mitsubishi and more. 10. The top 10. Currently, 43 Fortune 500 companies that call New York City home include: Verizon, JP Morgan, Pfizer, Citigroup, MetLife, Goldman Sachs, Morgan Stanley, and more. Paris is also home to several Fortune Global 500 companies such as, BNP Paribas, Peugeot, CNP Assurances, SNCF, Vivendi and more. Wealthiest cities (amount in billions . By 900,. L.A. makes good use of both job training programs and development projects. When Covid struck, global traveling came to a halt, and for a while Macao even slipped out of the 10 richest nations ranking. 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. Shipping isnt the only industry which brings revenue into SEZ, its also the sizable industrial parks, high-tech industries and of course, trade. 11. Much like Shanghai, Beijing enjoys a reputation as one of the Asia's (and the world's) wealthiest cities. You need a Statista Account for unlimited access. This includes the burgeoning FinTech, or financial technology industries. The Private Industry Council works to promote the local economy via job training programs. Lower down the list So, which cities are lower ranked than in previous years? As of March 2023, MacKenzie Scott's net worth is estimated to be $33.3billion. Fortune Global 500 companies include SK Holdings, POSCO, LG Electronics and more. Other notable NYC billionaire residents include hip-hop superstar, , the widow of former Koch Industries magnate. If you are an admin, please authenticate by logging in again. Los Angeles is not California's only wealthy city! The richest city in the world is Tokyo. 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. Cairo Cairo Pyramids Hotel - Cairo, Egypt (photo: Marriott) ADVERTISEMENT Located along the Nile River, Cairo is one of the. However, this megacity is most famous for its thriving entertainment industry, which pumps billions of dollars into the city's (and country's) economy. Dubai ranks at #6 on the PlanetWare guide, ahead of Singapore, Rome, Istanbul, and Tokyo. New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. 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. These are of very low quality and should be avoided. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Currently, you are using a shared account. 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. 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. Retail Investors Most Popular Stocks of 2023 So Far, Consumer Price Inflation, by Type of Good or Service (2000-2022), Mapped: Unemployment Forecasts, by Country in 2023, Decoding Googles AI Ambitions (and Anxiety), Ranked: Americas 20 Biggest Tech Layoffs Since 2020, Infographic: Generative AI Explained by AI, Infographic: 11 Tech Trends to Watch in 2023, Ranked: The Top 50 Most Visited Websites in the World, Visualized: The Most (and Least) Expensive Cities to Live In, Visualizing $65 Trillion in Hidden Dollar Debt, Visualizing the Relationship Between Cancer and Lifespan, Visualizing How COVID-19 Antiviral Pills and Vaccines Work at the Cellular Level, Mapped: The Most Common Illicit Drugs in the World. Home to 12 Fortune 500 companies, the city of Philly is Pennsylvanias financial hub. Accessed March 04, 2023. https://www.statista.com/statistics/299494/billionaires-top-cities/, Hurun Research Institute. 2 on the list, but the city recorded a net loss of eight billionaire residents. 7 and Shanghai and Beijing staying flat at No. New York City: 107 Billionaires. "Leading cities with the most billionaires in 2022." . 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 . Otherwise, Los Angeles enjoys wealth from other industries related to biosciences, trade, information, transportation, and aerospace. 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. Additionally, approximately 18% of Japan's universities are found in Tokyo. Learn how your comment data is processed. The richest country in the world is Luxembourg. Loudoun County. The decade-long conflict in Syria weakened the Syrian pound, led to a spiraling inflation and fuel shortages, and further collapsed its economy. When is it OK to Buy a House Site Unseen as an Investor? 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.). In 2019, the Northern California city attracted 26.2 million visitors who spent around $10.3 billion USD in the city. 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. Despite being significantly smaller than Los Angeles, San Francisco houses more millionaires than its southern California counterpart. Major financial powerhouses in London include Canary Wharf, HSBC and Barclays. 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. Photo: @Kim Kardashian West. 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. Washington, D.C.. 13. Those include Abhay Vakil, who heads Indias largest paint company, Asian Paints, and the Parekh brothers, who control adhesives and sealants maker Pidilite Industries. Basically, the metropolitan areas of Maastricht. London and the rest of the United Kingdom finally left the European Union on January 31st, 2020. However, today it has moved on to other, more profitable economic interests such as finances, high tech and insurance, to name a few. 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. 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. It is the largest urban economy on the planet. 2022 Rankings of Highly Urbanized Cities. Let me take you through the updated list of the World's richest cities as of 2022. Unlike so many other cities bending under the weight of a post-pandemic world, Houstons economy hs gotten stronger. Our ranking shows the 50 wealthiest countries, measured by gross domestic product per capita and adjusted by the purchasing in the respective country. 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. 10. In detail, 144 billionaires resided in the capital of China. Kimberly Noel Kardashian West is an American media personality, socialite, model, businesswoman, producer, and actress. He also praises the seafood, arts scene and welcoming atmosphere, though other critics call Seattle residents overly materialistic. Let's consider New York City. "Leading Cities with The Most Billionaires in 2022. 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. GM was the best-performing automobile company in the 20th century but has still maintained a top position among the wealthiest car manufacturers. You can only download this statistic as a Premium user. Are you interested in testing our business solutions? The country is entirely landlocked and is surrounded by Rwanda, Tanzania, and the Democratic Republic of Congo. Luxury services also play a significant factor in Paris' economy, acting as a hub for famous brands like Mot, Cartier, and Louis Vuitton. More than 80% of Russias billionaires call its capital home, including mining mogul Vladimir Potanin, who is also the richest person in the nation. 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. Fortune Global 500 companies housed in Moscow include Gazprom, Rosneft Oil and Sistema among others. The current state of the Moscow economy isnt as bright as it was earlier in the year due to sanctions. Kolkata is the financial, commercial and industrial hub of the North East region. A big economic draw for San Francisco is its close proximity to Silicon Valley. A paid subscription is required for full access. Tokyo has 39 million residents which are 50% more than any other urban area of the world. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. Florence, Italy - 2.59% Millionaires. For the first time, revenues from Global 500 companies in Greater China (including Taiwan). Dubai in top 10. Richest Places in the World According to a recent study by Forbes, the five richest cities in the world are Tokyo, New York City, Los Angeles, London, and Paris. 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. 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 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. Tourism is another major contributor to the economy of Philadelphia. This city's success is due to its industrial and manufacturing activity, made up of a technology-savvy and highly skilled work force. In 2022, the combined wealth of India's 100 richest increased by $25 billion to touch $800 billion. MacKenzie Scott is an American novelist and philanthropist. It goes without saying that due to its history tourism is a huge draw when it comes to obtaining revenue. The headquarters of several cities are also found in Tokyo, which include Honda, Sony, Hitachi, and Mitsubishi. 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. (((61/33)^(1/15))^10)*33 and (((33/21)^(1/15))^10)*21. 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. It has a diverse stable economy ranging from Gas Extraction and Manufacturing, Companies and Enterprise, and Retail Trade. The collective net worth of the citys billionaires is $424 billion, down $45.7 billion from a year ago. Other industries which influence the economy of Boston include the biotech industry, tourism, finance services and several Fortune 500 companies. Paris, which has topped the ECA list in the past, dropped out of the top 30. 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. 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. 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. Five are new billionaires from the finance industry, including private equity wizards Tony Tamer and Steven Klinsky. This is due in part to the countrys strong economic growth and favorable business environment, which has attracted many wealthy individuals and families to the country. The place is mostly known for its stunning Renaissance architecture and is . 9 last year. 30 in the index, a. Loudoun County is the richest county in the USA, with an estimated average household income of $ 117,876. The Top 5 Cities in Mexico. Lets take a closer look at some of the top-ranking cities making the list. 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. 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. 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. A good part of their revenue comes from their port, which is the largest container port in the world. - 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. Km. New York City. $516.5. 2 on the list, but the city recorded a net loss of eight billionaire residents. Air Cargo News Awards 2020. dnata wins again. 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. The company currently focuses on its four core brands: Cadillac, Chevrolet, GMC and Buick. Major metropolitan areas contributing at least 2.5% of world GDP. Its been rapidly replaced by information tech and financial services. London City | Photo: Reuters 7. India is the world's second-most populous country, with several large cities and densely inhabited areas. 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. 12. The TYO encompasses over 3,700 listed companies and a market value estimated at JPY 600 trillion (or approximately $42 billion USD). By 500 A.D., Constantinople modern-day Istanbul was home to about half a million people (it's now the fourth-largest city on the planet). New York is the wealthiest city in the worldhome to 345,600 millionaires with a total private wealth that exceeds $3 trillion. Where are the German and Chinese Cities? Macao SAR will climb from 17th in 2020 to 9th in 2021. China retains its title as the country with the most cities in the top 10, with Shenzhen moving up one spot to No. These include three Indian cities, Tashkent in Uzbekistan, Almaty in Kazakhstan, Pakistans most populous city of Karachi, and Sri Lankan capitalColombo. Additionally, the world's major companies are headquartered in Seoul, which include Samsung, Hyundai, LG, and Kookmin Bank. Standing as Russia's capital for centuries, the country's national wealth has been building in Moscow since the 1990s after the fall of the Soviet Union. 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). Four cities made the list for the first time: Blackhawk, California; New Albany, Ohio; Long Grove, Illinois; and Darnestown, Maryland. 2. Today, with 272,400 millionaires, the city holds a more humble position. 6 and No. Pasig City: $710 million. - Full Size", "Global Wealth PPP Distribution: Who Are The Leaders Of The Global Economy? 9 last year. What is the Cost of Living in New Hampshire? Out of the 2,095 members of the 2020 Forbes Worlds Billionaires list, 552 live in just ten 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. 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. Moscow is also home to a population of "nouveau riche" Muscovites and prominent neighborhoods, with properties that can cost millions of dollars. 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. This is a list of cities in the world by gross domestic product (GDP). The Shenzhen Special Economic Zone was created in May of 1980 and is based on Irelands Shannon Free Zone. 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. Beijing also has the dubious distinction of being the knock-off capital of the world. Moreover, when it comes to its residents, there are about 9,210 multi-millionaires calling London home, as well as 38 billionaires. Travel + Leisure. Kolkata is the third richest city in South Asia after Mumbai and Delhi. , who is also the richest person in the nation. Devoted to encouraging economic development, Chicagos Department of Planning and Development has a number of economic development initiatives. At 35 years old, Mark Zuckerberg is the youngest richest person by more than a decade. Being the largest city of the country, Mumbai is extensively . This international city has over 192,000 resident millionaires with 34 billionaires. With the onset of free-market reforms in the 1990s, Beijing saw its economic development soar. Show publisher information Its wealthiest resident, , chairman and CEO of Internet media behemoth Tencent Holdings, is the, . Richest Cities in the World. This year 92 billionaires live in the Big Apple as their primary residence 8 more than a year ago. Not surprisingly, China is home to three of these cities, including Hong Kong (SAR). More than 80% of Russias, call its capital home, including mining mogul. 27. 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.