London, Beijing, Shanghai, Los Angeles, Hong Kong, Sydney and Singapore follow according to the economic analysts of New World Wealth
The economists at New World Wealth, situated in Johannesburg took a closer look at cities, not countries, this time. In cooperation with the strategy consultants of Webster Pacific they compiled a ranking of the 20 wealthiest cities by standard of living.
Real Estate, Investment funds, stakes minus debt and the citizens’ obligations all play into the statistics. The community economy as such is not reflected in the data.
As expected, New York City stands at the top of the list. This is where the highest density of super-rich people lives world-wide: 65 billionaires and 380,000 millionaires have made it their home. The total wealth of New York’s citizens amounts to 3 trillion US-$. That is 3 million million. Connecticut (Greenwich, Darien, Westport), the Hamptons and the North Shore (Old Westbury, Great Neck, Sands Point) in close proximity pulls extra weight.
Ranking second is Tokyo where citizens own some 2.5 trillion US-$.
The San Francisco Bay Area follows closely with an amassed 2.4 trillion US-$ located in the city itself and Silicon Valley.
Third place was shared with London. The most affluent suburbs are Knightsbridge, Belgravia, Mayfair, Chelsea, Kensington, Westminster, Hampstead, Richmond, Wimbledon, Regents Park and St Johns Wood.
Beijing ranks fifth (2.1 trillion). This is where the most Chinese Big-Player-Companies have their headquarters.
The followers up are: Shanghai (1,9 trillion), Los Angeles, Hong Kong, Sydney and Singapore (1 trillion).
Followed by Chicago (980 billion), Mumbai, Toronto, Huston, Geneva, Frankfurt, Osaka, Seoul, Paris, Shenzhen (750 billion).
The analysis also contains a list of cities expected to do particularly well in the near future:
* Melbourne (major industries),
* Delhi (strong in a large number of key sectors),
* Dubai (major industries),
* Hangzhou (economically the fastest growing major city in China),
* Tel Aviv (many high-tech start-ups),
* Bangalore (known as „India’s Silicon Valley“),
* Ho Chi Minh City (economic hub of Vietnam and one of the fastest growing cities in the world),
* Hyderabad (India’s Pharmaceutical Capital).
Below, we show 2 analyses in which the economists compiled a ranking of the districts by wealth.
New World Wealth has just published a new study compiling the wealthiest cities in the UK.
(04.12.2019, USA: 12.04.2019)