CITIES WITH POWER
Added on: 31st Mar 2016
Seoul makes up almost a quarter of South Korea’s GDP despite
occupying less than 1% of its land. This financial mega-city is
home to some of the world’s largest brands such as
Samsung, Kia, and LG.
Most people associate Los Angeles with one of its biggest money
makers: film-producing Hollywood; however, it also has the
fifth-busiest port in the world, focused largely on U.S.-Asia trade.
Singapore is the second freest economy in the world. Trade is
central to its existence (hearkening back to its days as the
primary British naval base in East Asia) with a trade-to-GDP
ratio of 408%.
The world’s fifth most financially powerful city, Paris boasts the
largest business district in Europe, La Défence. While the Parisian
metro focuses mostly on services, it’s also a leader in
manufacturing for high-tech industries such as aerospace
Located on the southern coast of China, Hong Kong is the
largest centre for IPOs (initial public offerings, when a
company goes public), pulling in 22% of IPO capital in 2009.
Japan’s massive capital, Tokyo, is the most populous urban metro
in the world and plays host to 51 companies on the
Fortune Global 500, more than any other city.
With a total economic output of over £58 billion, London is the
largest economic powerhouse in Europe, much to Parisians’
chagrin, and has more overseas banks (480) than any other
It may come as no surprise that the Big Apple, New York City,
tops this list as the world’s most financially powerful city.
Wall Street and the rest of the major financial institutions bring
NYC’s total economic output to $1.4 trillion.