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World's richest cities, Tokyo is No 1

August 22, 2013 11:01 IST

World's richest cities, Tokyo is No 1

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Amid the economic crisis, some of the Asian cities hold much promise in terms of growth and prosperity. 

Tokyo remains the pride of Asia with the highest GDP (PPP) among the world’s richest cities, according to therichest.com.

Take a look at the world’s 10 richest cities…

Tokyo, Japan

GDP (PPP): $1,520 billion

One of the three ‘command centres’ for the world economy, along with New York City and London, the capital of Japan is the world’s richest city.

The largest metropolitan economy in the world houses the headquarters of several large investment banks and insurance companies.

GaWC's 2008 inventory rated Tokyo as a alpha+ world city. It was also ranked fourth among global cities by A.T. Kearney's 2012 Global Cities Index.

Tokyo is also known for being most expensive city for expatriates. Tourism is a revenue spinner for the economy.

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Image: Japanese women in kimonos walk during heavy snowfall at Toshimaen amusement park in Tokyo.
Photographs: Yuya Shino/Reuters

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New York, United States

GDP: $1,210 billion

If New York were an independent nation, it would rank as the 16th largest economy in the world, according to Wikipedia. 

The city is known for one of the oldest and excellent transportation infrastructure in the country.

An export hub, the city exports a wide variety of goods such as agricultural produce, commodities, minerals, computers and electronics, cut diamonds, and automobile parts.

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Image: People watch the fireworks erupt over the Hudson River, with the skyline of New York in the background.
Photographs: Reuters

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Los Angeles, Unites States 

GDP: $789.7 billion

Called ‘City of Angels’, Los Angeles is a hub of business, entertainment, fashion, technology, education and research.

Ranked sixth in the Global Cities Index and 9th Global Economic Power Index, the city is home to many famous institutions. Six Fortune 500 companies are situated in Los Angeles.

International trade, entertainment, aerospace, technology, petroleum, fashion, apparel, and tourism drive the economy.

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Image: A woman walks at the Beverly Center shopping mall in Los Angeles.
Photographs: Fred Prouser/Reuters

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Seoul, South Korea

GDP: $779.3 billion

Economic boom has transformed Seoul into a ‘Miracle on the Han River’. 

Today, the world's fourth largest metropolitan economy is a leading technology hub with the world's sixth largest number of Fortune Global 500 multinationals.

With the highest fibre-optic broadband penetration, the city enjoys world's fastest internet connection.

Home to multinationals Samsung, LG and Hyundai, Seoul has transformed into a major business hub accounting for 21 per cent of the country's GDP

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Image: A woman carries her puppy inside a store on the trendy Garosugil.
Photographs: Lee Jae Won/Reuters

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London

GDP: $731.2 billion

One of the world's leading financial centres, London is the also one of the most-visited cities in the world. 

The city accounts for 20 per cent of the UK's GDP. With over 480 overseas banks, London's largest industry is finance.

Home to the Bank of England and London Stock Exchange, over half of the UK's top 100 listed companies have their headquarters in central London.

The real estate prices in London are amongst the highest in the world.

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Image: A young girl named Scarlett Rose Green tests a Union flag bowler hat in south west London.
Photographs: Luke MacGregor/Reuters

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Paris, France

GDP: $669.2 billion

The world's leading business and cultural hub, Paris has one of the largest GDPs in the world.

If it were ranked as a country, it would be the seventeenth-largest economy in the world, according to Wikipedia.

The hub of international political, cultural and scientific institutions, Paris is also one of the world's leading tourist destinations.

Also hailed as the manufacturing powerhouse of Europe, Paris is known for automobiles, aeronautics, and electronics.

Thirty Fortune Global 500 companies are located in Paris.

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Image: Disneyland Paris
Photographs: Benoit Tessier/Reuters

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Osaka, Japan

GDP: $654.8 billion

The second city from Japan to be listed among the world’s richest cities, Osaka is the commercial centre of Japan.

Osaka is the second most expensive city for expatriate employees in the world.

It is Japan's third largest populated city after Tokyo and Yokohama.

The city was earlier famous as the ‘nation's kitchen’ as it was the centre of trading for rice. It also pioneered the first modern futures exchange market in the world.

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Image: A night view of Osaka City, Japan.
Photographs: Kimimasa Mayama/Reuters

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Chicago, United States

GDP: $524.6 billion

Chicago has the most balanced economy in the United States. 

Ranked as the fourth most important business centre in the world by MasterCard Worldwide Centers of Commerce Index, the Chicago metropolitan area has the third largest science and engineering work force.

The hub of the retail sector, Chicago has 12 Fortune Global 500 companies. Manufacturing, printing, publishing and food processing drive the economy.

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Image: Chicago
Photographs: Gabbe/Wikimedia Commons

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Moscow, Russia

GDP: $520.1 billion

A major political, economic and scientific centre, the capital city of Moscow has one of the largest municipal economies in Europe.

A financial hub, it accounts for over 22 per cent of Russia’s GDP and is home to second largest number of billionaires in the world.

Moscow houses the country's largest banks and many large companies. The city also accounts for 17 per cent of retail sales in Russia and 13 per cent of all construction activity in the country.

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Image: Moscow Monorail
Photographs: Lutex /WikimediaCommons

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Shanghai, China

GDP: $516.5 billion

A global city with focus on commerce, finance, media, fashion, technology, and transport, Shanghai is the financial centre and capital of China.

A model city of China’s economic boom, Shanghai recorded double-digit growth almost every year except during the global recession (2008 and 2009).

Ranked fifth in the 2011 edition of the Global Financial Centres Index, it is one of the one of the fastest developing cities in the world.

Shanghai is also one of the main industrial centres of China.


Image: A woman shops in a Louis Vuitton store in downtown Shanghai.
Photographs: Carlos Barria/Reuters

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