It may be little strange to believe that the richest cities in the world are not related to the culture, population, or expenses only. There are some additional aspects like Gross Domestic Product (GDP) which signifies how rich a city is.
GDP is essentially the total dollar value of output and services grossed over a predefined period of time, or you can name it is the size of the economy. It is clear that there are certain aspects that fund into deciding the economic stability or development of a city or examining the richest cities all over the world. Some aspects to consider are manufacturing, tourism, literacy, employ rate, crime rate, just to name a few.
You may be confused about which are the topmost wealthiest cities of world in 2020 based on GDP, economy, lifestyle of citizens, etc. For getting clear view of picture, refer below sections:
Table of Contents
- 10. Shanghai, China (GDP: $516.5 Billion)
- 9. Moscow, Russia (GDP: $520.1 Billion)
- 8. Chicago, USA (GDP: $524.6 Billion)
- 7. Osaka, Japan (GDP: $654.8 Billion)
- 6. Paris, France (GDP: $669.2 Billion)
- 5. London, England (GDP: $731.2 Billion)
- 4. Seoul, South Korea (GDP: $779.3 Billion)
- 3. Los Angeles, USA (GDP: $789.7 Billion)
- 2. New York, USA (GDP: $1,210 Billion)
- 1. Tokyo, Japan (GDP: $1,520 Billion)
10. Shanghai, China (GDP: $516.5 Billion)
Shanghai is the major Chinese city in matters of population and acknowledges as cultural political seat of China which is on high position in list of developed cities with its great GDP of $516.5 billion. It is identified that for this high GDP, its tourism business performs major role in its development. The city has a population of more than 24 million, however it reflects major tourist destination as of its historical lures like The Bund, City God Temple and Yu Garden. Being the richest city all over the world, Shanghai of China is spread on 6,340.5 square kilometers. The city holds its history back in era of 90s when it was established making revenues on finance as well as overseas investments.
9. Moscow, Russia (GDP: $520.1 Billion)
The economy of Russia claims its high-income diversified economy with state ownership with help of city-Moscow. Russia is the wealthiest in matters of its resources in the world and it includes more than 30 per cent of the resources of globe. This city of Russia-Moscow has plenty of natural gas, oil, and metals, as well as scores high in export shares. It is also renowned for its high-quality and high-tech military apparatus and refined arm manufacturing. Moscow is recorded to be the elementary supplier of the Russia’s steel, food, minerals, and chemicals requirements because of its richness.
8. Chicago, USA (GDP: $524.6 Billion)
Chicago is acknowledged as the third-largest town in the US of America in terms of its population of 2,722,389 as well has gross domestic product around $524.6 billion which makes it to sit on eighth rank in richest cities of world. The city is a global port for finance, commerce, telecommunications, technology, transportation as well as industry. The major portion of Chicago’s wealth is based on tourism business as great number of international visitors approaches to the world’s most attractive places in Chicago, flourishing its tourism industry.
The city is regarded as most reputable as of its philosophy comprises theatre, film, the visual arts and novels. Chicago also has its prominent place globally because of development in music, especially blues, jazz, gospel and soul. Chicago is recognised to supply the bases of the economy’s development which highlights sectors like manufacturing, publishing, insurance, printing, and food processing. Thus Chicago plays a significant part in the economic development of the nation as well as world.
7. Osaka, Japan (GDP: $654.8 Billion)
Osaka is positioned as the second smallest city in Japan in terms of region and known to be securing the third place in terms of population of 8,860,000. Though, when the matter comes to development, Osaka city is the biggest metropolitan city all over the world today through its high GDP. The city is hub to world leading companies like Sanyo and Panasonic, making it rich.
Started on the Economist Intelligence Unit’s Cost of Living study, Osaka city of Japan was known in year 2013 as the second most expensive city. In field of Tourist lures, the city is one of the major industries of recognised nations, consisting of the Tempozan Harbour Village, Universal Studios Japan, Kyocera Dome and other sites.
6. Paris, France (GDP: $669.2 Billion)
Paris is entitled as one of the most beautiful cities of the world for its remarkable romantic place that brings loving moments when you arrive here in France. The city has listed its extraordinary development and has received higher rank among the many wealthiest cities of the world with help its high GDP of $669.2 billion.
Yet, Paris appears most attracting place in France country but it wasn’t in period of the rule of the Roman Empire as the city got engaged in certain wars in the Black Plague, Medieval Period, two World Wars, and other. Presently, Paris has set its strongest gratitude in the world through its most beautiful destinations namely the Arc de Triomphe, Louvre Museum, well-known Eiffel Tower, and the Champs Elysees.
5. London, England (GDP: $731.2 Billion)
London is positioned as one of the “command centers” for the international economy and it is also the noticeable financial center for international business and commerce. With help of an assessed Gross Value Added (briefly as GVA) of around $546.4 billion in year 2012 and $65,768 GVA per capita, it was positioned as the world’s fifth biggest economy by Brookings Institution. Paris actively funds an estimate of 22 percent in the GDP of UK, of which 18 percent funds in the scientific, professional, and technical segments and 15 percent holds in the construction business.
4. Seoul, South Korea (GDP: $779.3 Billion)
South Korea is distinguished in entire world as its wealth has developed world’s second major metropolitan region having its population of around 25.6 million. Seoul is also listed among the popular cities worldwide with its listed high GDP of around $731.2 billion. Seoul is identified to be oldest surviving cities in the region of East Asian part of the country and was founded back in 18 BCE. You can observe its beauty with appealing places like the N Seoul Tower, the Changdeokgung Palace, Korean War Memorial and Namsan Park that appeals visitors to join the city.
3. Los Angeles, USA (GDP: $789.7 Billion)
Los Angeles is known to be the center of American Pop Culture and tourism centre, and regarded as the second largest city in entire US. This city is lovingly nicknamed “City of Angels” and it is major hub of Hollywood. The economy of the city depends mainly on sectors like entertainment, technology, medicine, media, and research. Los Angeles has one of the biggest economies amongst all the towns in the US, which is a reason of placing it in the list.
2. New York, USA (GDP: $1,210 Billion)
New York is named as one of the most historically rich cities in US as well as one of the developing cities. New York City stays too hectic regularly as its nights provide lots of fun, to people. However, it has become the hub of the New York metropolitan region which has demonstrated better advancement for decades many sectors such as art, finance, fashion, research, media, commerce, technology, education, and entertainment. The city has high GDP figure of $1,210 billion that has even beaten Los Angeles.
1. Tokyo, Japan (GDP: $1,520 Billion)
Tokyo of Japan has been ranked first the richest cities all over the world based on GDP and based on the world’s largest metropolitan economy as well. As the city has registered flourishing economy, Tokyo extremely contributes to the world’s economy. Tokyo is also a major international finance centre which facilitated many of the biggest investment banks s well as insurance companies in the world. This city of Japan is also centre for the country’s transportation, electronics, publishing, and broadcasting industries.
The economy of world today is strengthened consistently by few of the wealthiest cities who are actively contributing in augmenting its GDP. The listed cities own a high economy background that ultimately reflects high life style of its residents.