Top 10 Richest cities in the world | Richest Cities In The WORLD | 10 richest cities in the worldOctober 19, 2022
Richest Cities In The WORLD | Top 10 Richest cities in the world | Richest Cities in the World 2022 | Richest Cities in the World 2022
Top 10 Richest Cities in the World
Hello guys! Hope you are doing great. Determining the richest city in the world is a bit tricky as there is a number of factors that can be used to define that. Among all the other factor, the Gross Domestic Product (GDP) is the most common yardstick most economists and politicians use to measure a country’s or city’s wealth.
Before we begin our list, you have to grab the GDP concept! GDP can be defined as the price of goods and services produced in a specific area in a particular period. In simple words, the higher the GDP, the wealthier the city is.
Keeping this benchmark in line, let us start our list of Top 10 Richest Cities in the World.
10: Shanghai, China.
The first on our list is the financial capital and the largest city in China. Shanghai reported a GDP of $516.5 billion in 2022 till today, thanks to the strategic emerging industries such as new energy vehicles; not only that, but the Shanghai stock exchange was also ranked as the third largest stock market in the world in terms of market cap.
The city is home to 130,100 millionaires, including 350 Centi-millionaires and forty-two billionaires.
9: Moscow, Russia.
Moscow is Russia’s capital and most populous city and has been ranked at number 09 with a GDP of $520.1 billion. The city is home to billionaires; in fact, it has been ranked at seventh place in terms of home to the highest number of billionaires.
8: Chicago, USA.
Chicago is the largest inland city in the USA and quite popular for its diverse economy; the city is the head office of 35 fortune 500 companies such as Boeing and McDonalds. Its GDP per capita is $524.6 billion. The top dominating industries of the city are the manufacturing of food, plastic, and metals. However, transportation, Printing & Publishing, insurance, and financial services also have a fair share in the city economy.
7: Osaka, Japan.
Osaka is the second largest metropolitan city of Japan and is known as its commercial centre, moreover, it is also the largest port city on Honshu Island. The city has been ranked as the seventh richest city in the world with a whooping GDP of $654.8 billion.
6: Paris, France.
Paris is known as the France’s economic powerhouse as it contributes up to 31.2% of national GDP. It is the tourist hub of mainland Europe; the travel and tourism industry contribute 10% of the total GDP of the city. In 2022 till today this luxurious city had reported a GDP of $669.2 billion. The industry that contributes most in the economic growth of the city are services and commerce. There are approximately 390,480 enterprises in the city out of them 80.6% are offering commerce, transport, and other services.
5: London, England.
London, the capital of England & UK, has always been a millionaire magnet, and for many years, the city has maintained its status of the wealthiest city in the world. In 2022 the city has been ranked as the fifth richest country in the world with a GDP of $731.2 billion, and the largest city by GDP per capita in Europe.
4: Seoul, South Korea.
Seoul is the capital of South Korea and have a GDP per capita of $779.3 billion, it is the world leading technology hub and have 15 fortune global 500 companies, some of the largest technology companies such as Samsung & LG have their headquarters in this city.
3: Los Angeles, USA.
This city as also known as the entertainment capital of the world, Los Angeles has the GDP per capita of $789.7 billion, which makes this city the second largest economy in the US.
Los Angeles economy is dominated by the services sector; financial services, healthcare services, professional management services, and research are some of the key areas which makes the most of contribution to the city’s GDP.
2: New York, USA.
The first runner-up of our today’s list is New York, the city which is the financial centre of USA and home to two of the world’s largest stock exchanges. New York has a GDP per capita of $1.21 trillion, which contribute 8% of the US GDP, this makes it the largest economy in the country.
1: Tokyo, Japan.
On top of our today’s list is Tokyo, the capital of Japan and the largest economic zone of the country, the city has the GDP per capita of $1.52 trillion. The city is home of companies of all types regardless of industry and businesses, some of the major companies that based in this millionaire hub are Sony, Hitachi, Honda, Mitsubishi and etc.
That is, it for today’s video; I hope you enjoyed it and found it quite informative, for more informative videos like this subscribe our channel today.
Top 10 Richest cities of the world 2022 | Richest cities in the world 2022 | Most Richest cities in the world | millionaire city |cities by gdp | origins explained| private wealth | indian economy