With the continuous economic development throughout the world, the rate of revenue generation is also increasing. The well established and properly administered states and cities of the world are getting richer and richer by effective management of their tourism, taxes and other economic policies. Obviously, it is the money and revenues which allow the adequate administration of these states and cities and thus making them more rich and famous worldwide.
There are many factors on the basis of which one can find the economic value of a county or city including employment rate, literacy rate, tourism and other services provided in that city. One important factor is GDP; Gross Domestic Product which can be viewed as the size of economy of a particular city or country.
Let’s have a look on the top 10 richest cities of the world ranked on the basis of Gross Domestic Product.
Shanghai, a famous city of China is world’s 10th richest city having a GDP of $516.5 Billion. We all know China for its products which are exported throughout the world. These exports result in the generation of huge revenues and profits thus making the economy of China a strong. The export of local products, foreign investments, tourism business and other financial policies earns Shanghai a position among the richest cities in the world. The city has its development history in 90’s and has many historical places to attract tourists from all over the world.
Moscow, the capital city of Russia is the 9th richest city in the world. It has an estimated GDP of $520.1 Billion. Russia is an important country in term of its resources including oil and other metal reservoirs. Moscow being its capital also holds huge reserves of natural resources like natural gas, oil and many metals. It also has successful exporting and military equipment manufacturing industry. These factors make it 9th richest city in the world. Being the richest city of the country, Moscow plays significant role in the supply of food, steel and other necessities to the whole country.
Chicago is the 8th richest city of the world with a GDP of $524.6 Billion. This important city of United States is one of the highly populated cities of country. The fields of commerce, technology, finance, transportation and telecommunication are well flourished here. However, major revenues are generated through the tourism business. Chicago, having a lot of recreational places attracts the visitors and tourists from all over the world. It is also famous for its Arts and Theatre productions. The music industry here is also well recognized. Being involved in the industries of publishing, printing, food processing and other areas, Chicago plays an important role in the economy of USA and the world as well.
Osaka is the famous metropolitan city of Japan. It ranks as 7th richest city of the world with the GDP of $654.8 Billion. As far as its area is concerned it is a small city but has a large population. Many important electronic companies Panasonic, Sanyo etc., are centered here thus making the city able to get revenues and getting rich. According to 2013’s statistics, Osaka is one of the most expensive cities of the world. The city is also famous for its tourists attracting sites, including Tempozan Harbour Village, Kyocera Dome and many others.
Paris is the 6th richest city in the world having a GDP of $669.2 Billion. This city is very famous for its romantic and beautiful sites attracting visitors from all over the world. The tourism business here is much established which helps the city to gain revenues thus making it one of the richest cities of the world. Its major famous places are Louvre Museum, Champs Elysées, Arc de Triomphe, and the famous Eiffel Tower.
London the capital of United Kingdom is the 5th richest city of the world having a GDP of $731.2 Billion. The city has a number of recreational and historical places having great architecture which attract the tourists from all over the world. Besides tourism, it is also an important industrial city. Many big companies are located here and the export business carried out in the city helps it to earn large revenues and makes it one of the richest economies of the world.
Seoul is the capital of South Korea, a metropolitan country. The city is the 4th richest city in the world having a GDP of worth $779.3 Billion. This highly populated city is one of the oldest cities in the region having a lot of attractions for the tourists. Tourism is the major source of earning in this city. The famous tourists points here include N Seoul Tower, the Namsan park, the Changdeokgung Palace, and Korean War Memorial.
3. Los Angeles
The city which ranks as 3rd richest city of world is Los Angeles of USA having a GDP of $789.7 Billion. The city is considered as a center of Hollywood. It is also famous for its pop culture and the tourist points which attract a lot of visitors from the whole world, every day. Entertainment, media, tourism, technology, and research industries are the main sources of earning for the city.
2. New York
New York, the 2nd richest city of the world is also situated in USA. It has a GDP of worth $1,210 Billion. It is a historical city of USA which is now one of the developed and richest cities in the world having versatility in its culture and traditions. The city has seen tremendous development in the fields of tourism, arts, fashion, media, education, research and technology thus generating revenues for city. The famous tourists’ points here are twin tower, and the statue of liberty.
Tokyo, the capital of Japan is the world’s richest city with a GDP of worth $1,520 Billion. It is the world’s largest metropolitan economy and is the center of many insurance companies and international banks. This city of Japan is considered as hub of many revenue earning industries including electronics, transportation, broadcasting, publishing and many other.
This was the list of cities which are making the world’s economy more strong and powerful by generating revenues.