Published on : Thursday, October 3, 2019
According to GlobalData, a leading analytics company revealed that Tokyo has edged past Beijing, Paris, Seoul and London to emerge as the top city in the revenue analysis by 25 global cities with the highest GDP. This was based on total revenue generated by the public companies hardhearted in each city in 2018.
More than 41,000 global public companies spanning across 5,400 cities were analysed by the GlobalData and found that the top 25 cities were home to about 9,000 companies.
Around 23% of them were based out of Japan in 2018. This was followed by China (18%), Hong Kong (16%), the US (14%), South Korea (9%), Singapore (7%), the UK (7%), France (2%), Russia (1%), Brazil (1%), and Mexico (1%).
Parth Vala, Company Profiles Analyst at GlobalData stated with 18 out of the top 25 cities, advanced economies continued to dominate the list. They were home to over 7,000 public-listed companies. The remaining seven cities from the emerging and developing countries were headquarters to around 2,000 public-listed companies.
The US was home to 12 out of the top 25 cities which was followed by China with four.
The aggregate revenue of the total sample size accounted for 38.5% by the companies from the top 15 cities. In 2018, the combined revenue of these companies witness year-on-year (YOY) increase of 8.9 %.
A YOY growth was reported in the aggregate revenues from the companies within and companies in Beijing, Shanghai, Shenzhen, Houston, Moscow, Dallas, Seattle, Philadelphia, Guangzhou, and Miami performed particularly well with an aggregate revenue growth of over 10%.
Backed by the improved performance in retailing, industrial good and machinery technology and communication, food services, transport and logistics,travel and tourism sectors the revenue of companies in Seattle grew by 21.9 %
Due to substantial decline in revenue from insurance, and investment banking & investment services activities the combined revenue of companies in London fell by 2.8%