A city’s wealth is mainly calculated by its GDP (Gross Domestic Product). Basically, GDP is a measure of the value of all the services and goods produced domestically. The more these goods and services, the more the GDP. It is calculated on the basis of some major factors; living standards, economic vitality, research capability, income and consumption, political influence, etc.
Now it is, of course, not necessary that the richest cities are from the richest countries. A country’s GDP takes into account all imports and exports, investments, consumption and government spending etc. Note that these parameters are different from those used for cities. Hence, the richest city may not belong to the richest country. Although it is very likely, given the level of development throughout the rich and developed countries.
So here goes a list of the richest cities in 2012 by measure of their GDP.
Tokyo is the capital city of Japan, which the third richest country in the world. Despite the slow-down on Japanese economy due to natural disasters and international competition for its manufactured products, Tokyo is still at the top spot with a GDP of $1479 Billion! It is considered as one of the three command centers of the world, others being New York City and London. In 2009, it was declared as the most expensive city in the world in terms of living costs.
New York City
With a GDP of around $1406 Billion, more than that of India, New York truly showcases the economic might of the world’s richest country (U.S.A). By market capitalization, New York Stock Exchange is the largest stock exchange in the world. It is said to be the center of the world, with most of major banks and other organizations of the world headquartered in it.
L.A, the city of Angels, is another major city in terms of science, technology, media, culture, trade etc. It has a GDP of $592 Billion which, although not at par with NY and Tokyo, is still a sum to reckon with.
Chicago is another american city that is a center for trade. It has a GDP of $574 Billion. Most importantly, it houses a lot of political activity, and is the Democratic Party’s turf. President Barack Obama comes from Chicago.
Capital to the world’s sixth largest economy, London boasts of a GDP of $565 Billion. It is another financial command center of the world, housing most of the U.K’s top organizations. London is well-known for its rich and luxurious lifestyle. It is said to be the hub that connects the eastern world to the western one. It houses a large population as well, which also makes it one of the busiest city of the world. Because of so much traffic jams and slow-moving speed of traffic (as a result of all the business), London is sometimes informally referred to as ‘The World’s largest car-park’ :).
The French capital is known for its beauty, rich lifestyle, rich cultural heritage, and iconic architectural landmarks. The world’s famous Eiffel tower, of course is situated in Paris. Paris is considered as the world’s most beautiful city, and it attracts more than 45 million tourists each year! And with a GDP of $813.4 billion, it generates a quarter of the whole of France’s income. It is also the second largest city in Europe.
Osaka is considered as Japan’s commercial capital, which is why it is also informally known as the ‘nation’s kitchen’. It is the third largest city in Japan, after Tokyo and Yokohama, and houses electronic giants like Panasonic, Sanyo, Sharp, etc. It has a GDP of $417 Billion, and it plays an important part in the world’s economy.
Now that’s the first city in our list not belonging to the top 10 richest countries in the world. It has a GDP of $390 Billion, which is larger than some other local economies in the Latin american region. It houses 21.2 million people, making it the largest metropolitan in the region as well. Not only that, it has the honor to be the largest economy among developing countries.
The fourth richest city of U.S.A is a centerpiece to early American history, and home to many ideas that resulted in the American Revolution and independence. It has a budget of $388 Billion, and is home to major economic activities such as financial services, oil refining etc.
This is another major economy among developing nations. Possessing a GDP of $388 billion, it is Brazil’s major commercial city. It hosts the San Paulo Stock Exchange, the Future Markets, BOVESPA, and Cereal Market Exchange, the second largest stock exchange market in the region.