20 Richest Cities in the World

20 Richest Cities in the World.

The richest cities in the world are determined by their gross domestic product, or GDP. According to Investopedia, "Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period." In this case, we are looking at the GDP of metropolitan statistical areas, and not countries.

For instance, the city of New York is a metropolitan area made up of 5 boroughs with each borough contributing to the cities overall GDP. As such when it comes to the richest cities in the world, New York City comes in at number 2. By examining a cities GDP, we can get a good idea of its industries and how they contribute to the overall economic growth. When determining the GDP, the UN classifies 3 methods to determine it: City proper, urban area and metropolitan regions. Our numbers for the richest cities in the world are based on the metropolitan statistical region.

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