While the world has truly become a global marketplace, there are still a number of centres which stand out as economic powerhouses. Let us take a look at the top five financially prominent cities as well as some interesting and lesser-known facts about each. Who knows, you may decide that one of these metropolis’ should be your next stop!
Home to Big Ben, Westminster Abbey, the FTSE and the London Stock Exchange, London has enjoyed the top financial spot for the last few years. Were you aware that London was originally called “Londinium” by the Romans before the Saxons phonetically translated this phrase to “Lundenwic”? It is still not entirely certain what either name meant. London is also a very international city; there are actually more American banks within its confines than British institutions. Keeping with this reputation, it is thought that more than 300 languages are spoken within London. This is far more than any other city on the planet.
2. New York City
The Big Apple has made the second position on this list, and for good reason. New York City is famous for its skyline, Wall Street, Manhattan and the Statue of Liberty. Wall Street itself was given its name due to the fact that a literal wall used to line its borders in order to keep out potentially dangerous native tribes. There are no less than 1,362 kilometres of metro rail systems beneath the surface of this city. Also, the original location of what is now the New York Stock Exchange (NYSE) was nothing more than a coffee house until 1817!
Singapore is currently home to 5.4 million residents. It is also known as being the hub of the Singapore Stock Exchange (SGX) which boasts a daily volume of over $100 billion dollars. Interestingly enough, Singapore was originally founded as a trading post for the East India Company (the first publicly traded enterprise) in 1819. It was a mere fishing village up until this point. Although often referred to as the “City in a Garden”, the size of this metropolitan area has increased by a staggering 22 per cent since the 1960s.
4. Hong Kong
Hong Kong literally translates into English as “Fragrant Harbour” and it is currently the fourth most densely populated area on earth. While smaller than other cities, Hong Kong contains the most skyscrapers in terms of size and concentration. There are also more Rolls-Royce cars here per person than in any other city. In terms of currencies, the Hong Kong dollar is the eight-most traded denomination in the world.
The greater metropolitan area of this city is the most densely populated on the planet. Not only was Tokyo associated with a GDP of an impressive $1.9 trillion dollars in 2012, but it is home to several large investment banks. Tokyo is the most expensive city in the world to live in and it also boasts the largest number of universities on the planet.
Now that you know a bit about these cities, if you’re a serious investor you may want to discover their trading hours as well. Then you’ll be able to explore the cities and make some money in the process.