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20 cities with households of annual income over $20,000

Last updated on: July 3, 2012 10:41 IST

20 cities with households of annual income over $20,000

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The developing-region cities of the City 600 will be home to an estimated 235 million middle-class households earning more than $20,000 a year at purchasing power parity (PPP) by 2025, points out a McKinsey study which maps the economic power of cities.

Even at the higher end of the middle-class segment, there will be more households in emerging-market cities than in developed ones.

MGI finds that population in the City 600 (600 urban centers generate about 60 percent of global GDP) will grow an estimated 1.6 times faster than the population of the world as a whole.

By 2025, the City 600 will be home to an estimated 310 million more people of working age - and account for almost 35 percent of the expansion of the potential global workforce.

Almost all of this increase is likely to be in the cities of emerging-markets - and two-thirds in the leading cities of China and India.

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Image: The Brooklyn Bridge (R) and Manhattan Bridge is seen from the 90th story of One World Trade Center in New York.
Photographs: Lucas Jackson /Reuters.
Tags: MGI , PPP , GDP , McKinsey

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Tokyo

Tokyo, the capital of Japan is hailed as one of the three 'command centers' for the world economy.

The city is an alpha+ world city, listed by the GaWC's 2008 inventory and ranked fourth among global cities by A.T. Kearney's 2012 Global Cities Index. In 2012 Tokyo was named the most expensive city for expatriates.

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Image: Tokyo.
Photographs: Reuters.
Tags: Tokyo , Kearney , Japan

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New York

New York is the most populous city in the United States. A centre for finance and culture, it is the largest gateway for immigration to the United States.

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Image: New York.
Photographs: Reuters.

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London

It is the world's leading financial centre alongside New York City and has the fifth-largest metropolitan area GDP in the world, and the largest in Europe.

One of the world's most visited cities, it is described as the world's cultural capital.

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Image: London.
Photographs: Reuters.

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Shanghai

Showpiece of China's economic success, Shanghai is the largest city by population in China.

It has is commercial and cultural hub of China. It also has the busiest container port in the world.

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Image: Shanghai.

Tags: China , Shanghai

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Beijing

Beijing is China's second largest city by urban population after Shanghai and is the country's political, cultural, and educational centre.

Besides being the headquarters for most of China's largest state-owned companies, Beijing is a major transportation hub in the national highway, expressway, railway and high-speed rail network.

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Image: Beijing.
Photographs: Reuters.

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Paris

Paris is today one of the world's leading business and cultural centres. It has strong influences in politics, education, entertainment, media, fashion, science, and arts.

Paris is considered one of the greenest and most liveable cities in Europe.

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Image: Paris.
Photographs: Reuters.

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Rhein-Ruhr

The Rhine-Ruhr metropolitan region is the largest metropolitan region in Germany with over 11 million inhabitants.

The metropolitan area is named after the Rhine and Ruhr rivers, which are the regions's defining geographical features.

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Image: Rhein-Ruhr.
Photographs: Andreas Tille/Wikimedia Commons.
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Osaka

O
saka is a city in the Kansai region of Japan's main island. Osaka is the third largest city by population after Tokyo and Yokohama.

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Image: Osaka.
Photographs: PekePON/Wikimedia Commons.

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Moscow is largest city in Russia. In 2011, Moscow had the largest number of billionaires in the world.

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Image: People cycle by the Kremlin as they take part in the
Photographs: Maxim Shemetov/Reuters.
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Mexico City

Mexico City is the country's largest city as well as its most important political, cultural, educational and financial centre.

As an 'alpha' global city Mexico City is one of the most important financial centres in North America.

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Photographs: Dabackgammonator/Wikimedia Commons.

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Los Angeles

Nicknamed the City of Angels, Los Angeles is a leading world centre of business, international trade, entertainment, culture, media, fashion, science, sports, technology, and education.

It has been ranked the third richest city and fifth most powerful and influential city in the world.

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Photographs: Bobak/Wikimedia Commons.

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Sao Paulo

Sao Paulo is the capital of the state of Sao Paulo, which is the most populous Brazilian state. Sao Paulo maintains strong international influence and is considered an Alpha-World City.

Sao Paulo has the highest GDP among Latin American cities.

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Image: Sao Paulo.
Photographs: RobertoZimme/Wikimedia Commons.

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Seoul

Seoul is one of the world's top ten financial and commercial centres, home to major multinational conglomerates such as Samsung, LG and Hyundai-Kia.

In 2008, Seoul was named the world's sixth most economically powerful city by Forbes. Seoul was voted the among top travel destinations.

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Photographs: Stari4ek/Wikimedia Commons.

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Chicago

Chicago is listed as an alpha+ global city by the Globalization and World Cities Research Network, and ranks seventh in the world in the 2012 Global Cities Index.

The city is an international hub for finance, commerce, industry, telecommunications and infrastructure.

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Photographs: Daniel Schwen/Wikimedia Commons.

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Milan

Milan, the second-largest city in Italy is the main industrial, commercial and financial centre of Italy.

Its business district hosts the Italian Stock Exchange and the headquarters of the largest national banks and multinational companies.

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Image: Milan.
Photographs: Friedrichstrasse/Wikimedia Commons.
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Mumbai

Mumbai is the commercial and entertainment capital of India, it is also one of the world's top 10 centres of commerce in terms of global financial flow generating 5 per cent of India's GDP and accounting for 25 per cent of industrial output.

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Photographs: Nikkul/Wikimedia Commons.

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Cairo

Nicknamed 'The City of a Thousand Minarets', Cairo has long been a centre of the region's political, cultural and economic life.

Cairo has the oldest and largest film and music industries in the Arab World.

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Photographs: Benutzer Martinsteiger/Wikimedia Commons.
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Hong Kong

One of world's leading international financial centres, Hong Kong has a major capitalist service economy characterised by low taxation and free trade.

Hong Kong has one of the highest per capita income in the world. The Hong Kong dollar is the eighth most traded currency in the world.

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Image: Hong Kong.
Photographs: Diliff/Wikimedia Commons.

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Taipei

Taipei has been at the centre of rapid economic development in the country and has now become one of the global cities in the production of high technology and its components.

Taiwan is now a creditor economy, holding one of the world's largest foreign exchange reserves.

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Photographs: Trcheng/Wikimedia Commons.

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Randstad

The Randstad is a conurbation in the Netherlands which has four largest Dutch cities - Amsterdam, Rotterdam, The Hague and Utrecht.

The cities of the Randstad resemble a crescent or chain. This shape has given the Randstad its name (rand means rim or edge and stad means city or town).



Image: Randstad.
Photographs: J Donkervoort/Wikimedia Commons.

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