Top 5 most populous megacities worldwide
The United Nations has released fresh data on the most populous cities in the world. Let's take a look at the top megacities by population.
According to the data offered by Long Finance, based on the experience of the planet's investment experts, the financial centers include cities of North America, Asia Pacific region and Europe. Twice a year, Long Finance computes its global index.
London, Great Britain
The Long Finance list is headed by the capital of Great Britain - London. The economy of this city alone makes out one fifth of the country's economy. London is the city of the highest level considering its financial status. It is home of the majority of English and transnational companies, such as BP, Royal Dutch Shell, Unilever, Corus Group, SABMiller, Cadbury, etc. The key branch of London economy is finance, including the bank services, insurance, and asset management.
New York, United States
The second line is occupied by New York, which is the leading economic center of the United States, and of the world as well. Like London and Tokyo, NYC is one of the main world economic centers. The financial establishments in New York City control about 40% of the global financial flows. The city is headquarters for Citigroup, J.P. Morgan Chase & Co., Goldman Sachs Group, Morgan Stanley, Merrill Lynch, as well as NYSE, NASDAQ, American Exchange, and New York Board of Trade.
Singapore
The third position goes to Singapore, which is a well-developed government with market-oriented economy and low taxation. Transnational companies have an important part in its economy. Due to low taxation rates Singapore is favoured by investors.
Hong Kong
Long Finance fourth position in the ranking is given to Hong Kong, the main banking and financial center, providing innovation stimuli with the help of low taxation rates. This region in China is thought to be one of the most popular for foreign investments, thus supporting access to the world capital markets.
Tokyo, Japan
Tokyo is the fifth in the list. The capital of Japan, that is also a financial, economic, cultural and political centre of the country. Manufacturing engineering is the key branch of the megalopolis economy with the prevailing of electronics and high-tech products. Tokyo is among the leading world financial centers. It headquarters the largest global investment banks and insurance companies.
Zurich, Switzerland
Position six is occupied by Zurich, the leading financial center of Switzerland. It's home for such international insurance companies and banks, as UBS, Credit Suisse, Swiss Re, Zurich Financial Services. The headquarters of the Swiss National Bank and the SIX Swiss Exchange are in Zurich. All this makes it possible to name the city as one of the most important financial centers in the world.
Washington, D.C., USA
As for the seventh line, it's taken by Washington, D.C., with the leading representative offices of the government branches, including the residence of the U.S. President, the White House. The city's economy is characterized by employment in area of public administration and services. The majority of companies, non-commercial organizations, labour unions, and trade groups have their headquarters in Washington.
США, Сан-Франциско
The eighth position in the Long Finance ranking is taken by San Francisco. The city's economy is based on tourism. However, the banking sector is well-developed, thus making San Francisco the key financial centre of the West coast. The city is home for the headquarters of about 30 international financial organizations, as well as 6 companies of Fortune 500 ranking, and numerous firms involved in professional public services.
Boston, USA
Boston, one of the richest and oldest American cities, is ranked as the ninth. The key sectors of its economy are finance, banking, and insurance. The headquarters of Fidelity Investments, Sovereign Bank, and of State Street Corporation are situated here. Boston is considered as one of the world's biotechnological and microelectronic centers.
Toronto, Canada
The top ten is closed by Toronto, the economic engine of Canada, and one of the main megalopolises of the planet. The most developed branches of economy here are manufacturing of electric power equipment, nuclear energy, oil refinery, and food processing industry.
The United Nations has released fresh data on the most populous cities in the world. Let's take a look at the top megacities by population.
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