The gross domestic product (GDP) of a city is an important indicator of its economic health and strength. It measures the value of all goods and services produced in a city over a specific period of time. Knowing which cities have the highest GDP can provide opportunities for businesses and investors to better understand the economic landscape.
Five cities with the highest GDP
New York
New York City is said to be the largest city in terms of GDP. For 2023, according to the World Economic Forum, its estimated GDP is $2.5trn. Its economy is powered by the finance, media and technology industries, as well as its diverse population. New York is also one of the most visited cities in the world, and this influx of visitors helps to boost its economy.
Tokyo
Tokyo, Japan, is another major city with a high GDP. Tokyo’s GDP in 2023 is estimated to be more than $1.9trn. This is largely attributed to its diversified and advanced economy, which includes finance, manufacturing and technology. Additionally, Tokyo is a major global hub for business, making it an attractive destination for businesses and investors.
Los Angeles
Los Angeles, California, is the third-largest city in the world based on GDP. Its estimated GDP for 2023 is $1.5trn. Los Angeles’ economy is driven by the entertainment, technology and manufacturing industries, as well as its strong tourism industry. Additionally, the city’s proximity to the Pacific Ocean makes it an ideal destination for businesses looking to expand their operations.
London
London, UK, is the fourth-largest city in terms of GDP. Its estimated GDP for 2023 is $1.3trn. London is a global financial centre and is home to a diverse population. This makes it an attractive destination for businesses and investors. Additionally, its strong tourism industry helps to contribute to its economy.
Shanghai
Finally, Shanghai, China, is the fifth-largest city in terms of GDP, though it is approximately tied with London. Its estimated GDP for 2023 is $1.3trn. The city’s economy is driven by its manufacturing and technology industries, as well as its large population. Shanghai is also a major port city, which helps to attract businesses from around the world.
[Read more: Which cities are in the race to net zero?]
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