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Wealthiest Cities in the World

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1. New York

Statue of Liberty. Image Source: http://www.statuecruises.com

The wealthiest city in the world with a total wealth of $3 trillions. It is the most populous city in the US. City is famous for Statue of Liberty, Empire State Building, Times Square, Broadway Theater District, etc. New York City consists of five boroughs, each of which is a separate county of New York State. The five boroughs – Brooklyn, Queens, Manhattan, The Bronx, and Staten Island – were consolidated into a single city in 1898.

2. London

Westminster.
Image Source: assets.londonist.com

This time the runner-up is London with total wealth of $2.7 trillion. London is the capital of the United Kingdom and is also the most populous city in the country. Standing on the River Thames in the south east of the island of Great Britain, London has been a major settlement for two millennia. London contains four World Heritage Sites: the Tower of London; Kew Gardens; the site comprising the Palace of Westminster, Westminster Abbey, and St Margaret’s Church; and the historic settlement of Greenwich (in which the Royal Observatory, Greenwich defines the Prime Meridian, 0° longitude, and GMT).

3. Tokyo

Rainbow Bridge.
Image Source: Wikipedia

Tokyo came third with total wealth of $2.5 trillion. Tokyo is the capital city of Japan and one of its 47 prefectures. The Greater Tokyo Area is the most populous metropolitan area in the world. It is the seat of the Emperor of Japan and the Japanese government. Tokyo is in the Kantō region on the southeastern side of the main island Honshu and includes the Izu Islands and Ogasawara Islands. In 2015, Tokyo was ranked as the 11th most expensive city for expatriates, according to the Mercer consulting firm.

4. San Francisco

Golden Gate Bridge and San Francisco.
Image Source: http://www.capoliticalreview.com

Next is San Francisco Bay with total wealth of $2.3 trillion. San Francisco, is the cultural, commercial, and financial center of Northern California. San Francisco is known for its cool summers, fog, steep rolling hills, eclectic mix of architecture, and landmarks, including the Golden Gate Bridge, cable cars, the former Alcatraz Federal Penitentiary, Fisherman’s Wharf, and its Chinatown district.

5. Beijing

Temple of Heaven.
Image Source: Wikipedia

The fifth spot is taken by the capital of China – Beijing – with the total wealth of $2.2 trillion. It is the second-most populous city in China. The city’s history dates back three millennia. As the last of the Four Great Ancient Capitals of China, Beijing has been the political center of the country for much of the past eight centuries.Beijing has seven UNESCO World Heritage Sites – the Forbidden City, Temple of Heaven, Summer Palace, Ming Tombs, Zhoukoudian, as well as parts of the Great Wall and the Grand Canal.

6. Shanghai

The Bund
Image Source: Wikipedia

Next wealthiest is Shanghai with the total wealth of $ 2 trillion. It is the most populous city in the world, with a population of more than 24 million as of 2017. It is a global financial centre and transport hub, with the world’s busiest container port. Shanghai has been described as the “showpiece” of the booming economy of mainland China; renowned for its Lujiazui skyline, and museums and historic buildings, such as those along The Bund, as well as the City God Temple and the Yu Garden.

7. Los Angeles

Los Angeles downtown skyline with Mount San Antonio in the background
Image Source: Wikipedia

Number 7 is the Hollywood city – Los Angeles with combined wealth of $ 1.4 trillion. It is the cultural, financial, and commercial center of Southern California and is the second most populous city after New York in the USA. Located in a large coastal basin surrounded on three sides by mountains reaching up to and over 10,000 feet (3,000 m), this picturesque city has hosted the 1932 and 1984 Summer Olympics and will host again in 2028. Los Angeles is often billed as the “Creative Capital of the World”, because one in every six of its residents works in a creative industry.

8. Hong-Kong

Victoria Harbor.
Image Source: Getty Images

Next on the list is Hong Kong with cumulative wealth of $1.3 trillion. It is an autonomous territory in China. It has its own political and economic system. Hong Kong was a British Colony till 1997. After that, China made it its Special Administrative Region (SAR) along with Macau. The territory features the most skyscrapers in the world, surrounding Victoria Harbour, which lies in the centre of the city’s dense urban region.

9. Sydney

Opera House
Image Source: Getty Images

Number 9 is Sydney ($ 1 trillion). It is the state capital of New South Wales and the most populous city in Australia and Oceania. Located on Australia’s east coast, the metropolis surrounds the world’s largest natural harbour. Man-made attractions such as Sydney Tower, the Sydney Harbour Bridge, and the Sydney Opera House, are also well known to international visitors.

10. Singapore

Singapore Flyer
Image Source: Make my Trip

At 10th position is the sovereign city-country of Singapore with around $1 trillion wealth. It gained independence from the UK in 1963 by federating with other former British territories to form Malaysia, but separated two years later over ideological differences, becoming a sovereign nation in 1965. Singapore is a global commerce, finance and transport hub.

11. Chicago

Chicago
Image Source: Wikipedia

Just outside top 10 is another US city – Chicago – with total wealth of $ 988 billions. It is the third-most populous city in the United States.  Chicago has often been called a global architecture capital and is considered one of the most important business centers in the world. Positioned along Lake Michigan, the city is an international hub for finance, commerce, industry, technology, telecommunications, and transportation. In 2013, Chicago was chosen as one of the “Top Ten Cities in the United States” to visit for its restaurants, skyscrapers, museums, and waterfront, by the readers of Condé Nast Traveler.

12. Mumbai

Gateway of India
Image Source: Wikipedia

12th is our Mumbai with accumulated wealth of $ 950 billions. Mumbai is the financial center of India and the home of Bollywood. It is also the the most populous city in India. Mumbai lies on the Konkan coast on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named an alpha world city. It is also the wealthiest city in India with 38 billionaires residing in the capital of dreams.

13. Toronto

Skyline of Toronto over Ontario Lake at twilight
Image Source: http://blog.caasco.com/wp-content/uploads/2017/07/CN-Tower.jpg

After Mumbai comes Toronto with $ 944 billions. It is located within the Golden Horseshoe in Southern Ontario on the northern shore of Lake Ontario. It is the largest city in Canada and fourth-largest city in North America by population. The diverse population of Toronto reflects its current and historical role as an important destination for immigrants to Canada. Toronto is known for its many skyscrapers and high-rise buildings, in particular the tallest free-standing structure in the Western Hemisphere, the CN Tower.

14. Frankfurt

Frankfurt.
Image Source: Wikipedia

Next on the list is Frankfurt with total wealth of $ 912 billions. It is the 5th largest city in Germany. Frankfurt is an alpha world city and a global hub for commerce, culture, education, tourism and transportation. It is the site of many global and European corporate headquarters. Frankfurt Airport is among the world’s busiest.

15. Paris

Eiffel Tower
Image Source: Wikipedia

Last on our list is Paris with gross wealth of $ 860 billions. The capital and the most populous city in France is especially known for its museums and architectural landmarks: the Louvre was the most visited art museum in the world in 2016, with 7.4 million visitors. The 1938 and 1998 FIFA World Cups, the 2007 Rugby World Cup, and the 1960, 1984, and 2016 UEFA European Championships were held in the city, and every July, the Tour de France bicycle race finishes there.

Mumbai Airport becomes the busiest airport in the world

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Mumbai airport created a new world record for single-runway operations on 20th January. The airport handled 980 arrivals and take-offs in 24 hours. With this, the Mumbai Chhatrapati Shivaji Maharaj International airport bettered its own feat of 974 flights in 24 hours, recorded on December 6, 2017.

Comparison with the Best

India’s second largest airport has the record breaking numbers but still it’s far from being most efficient. Gatwick airport, UK’s second largest airport, is still the most efficient single-runway airport in the world.

India’s second largest airport has the record breaking numbers but still it’s far from being most efficient. Gatwick airport, UK’s second largest airport, is still the most efficient single-runway airport in the world. Gatwick single runway declared an aircraft capacity of 870 flight movement per day for summer 2018. Unlike Mumbai airport, which is 24 hours functional, Gatwick handles most of its flight between 5 A.M and midnight (19 hours).

Space Crunch

According to a report by Sydney-based CAPA in 2017, Mumbai airport will reach its saturation point in 2018. “The airport currently handles 45.2 million passengers and sees around 930 flight operations per day, and will handle 48 million passengers in 2018. Reaching its saturation would mean that it will increase additional daily flights by 48 this year,” the report said.

According to a senior air traffic controller from Mumbai, the airport suffers from space crunch and cannot handle anymore extra flights. According to him, it also requires adequate planning for improving its capacity.

“The most important difference between Gatwick and Mumbai is the environment the two airports are set in. Mumbai airport functions in a space-starved, infrastructure-constrained environment, unlike any other. More flights can’t be added onto Mumbai’s single runway without a holistic approach that takes into account the ground realities, India’s regulatory framework, human factors etc,” he said.

A ray of hope

After years of delay, the Navi Mumbai International Airport (NMIA) is finally off the ground. The GVK Group-owned Mumbai International Airport Ltd (MIAL) won the financial bid for the ₹16,000-crore project on 12th January. In the first phase, the airport is expected to handle 10 million passengers.

Maharashtra government’s City and Industrial Development Corporation (CIDCO) will be responsible for developing the airport.

The airport project was stopped 15 years ago. Factors like Environment clearance, landowners and villagers protests on compensation were responsible for the delay. On November 22, 2010, final environmental clearance was provided by the Union Environment and Forest Ministry. However, the project could not take off as villagers and landholders refused to accept the compensation. CIDCO continues to negotiate with 950 families on providing alternative accommodation and sources of livelihood.

Mumbai Shifting Its Lifeline

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Mumbai is in a mood to snatch lifeline status from its beloved local trains. The city transport structure needs a revamp and Mumbai Metro Rail Corporation (MMRC) is just doing the same.

So far, MMRC has dug around 220 metres of the 33.5 km-long underground corridor. This corridor will connect Colaba in South Mumbai to SEEPZ in suburban Andheri. The corridor, will definitely be the “game-changer” for the city’s transportation system and will also reduce pollution. It is likely to pass over around 2,000 buildings.

Planning for digging

Since a project of such magnitude is being constructed underground, there are chances of vibrations that would cause buildings to collapse. MMRC has devised a comprehensive plan for digging underneath while allying these fears.

“Nearly 1,500 project-affected families have been shifted and a manpower of 7,600, including skilled and unskilled, is on the job,” the state-owned agency implementing the project, said recently.
The Metro-3 corridor will skim through Colaba up to SEEPZ (Santacruz Electronics Export Processing Zone, a special economic zone). There will be 27 stations on the route, out of which 26 will be underground.

Underground water problem

The underground metro rail will impact the city’s groundwater system. An Australia-based water resources management specialist has warned but cannot predict the magnitude of impact. It’s obvious the project will disturb the natural flow of underground water.

“Just how significant the impact be, and what will be the impact post construction can only be determined with detailed modelling,” said the expert Jehangir F. Punthakey.

Bhikha Behram well, near Cross Maidan, is the oldest well in the city. The underground line will pass near this well and several other wells situated in two fire temples situated at the Princess Street junction in south Mumbai.

“Modifying the route of the Metro can only be suggested after a detailed study of the groundwater system – which has not been undertaken to date. Once the scenarios are undertaken then one can decide how significant will be the impact. Make no mistake – there will be an impact on the groundwater system,” said the Sydney-based expert.

Mumbai Metro Rail Corporation (MMRC) officials had earlier assured community members that the tunneling work will not affect the wells or ground water. They said the tunnel will be 70 metres away from the Bhikha Behram well.

Funding

Japan’s International Co-operation Agency (JICA) will be providing a loan assistance of Rs. 13,235 crore, which will account for 57.2 per cent of the total cost. The State and Union governments will manage the remaining funds.

MMRC is the joint venture between the Centre and the Maharashtra government. It has set 2021 as the deadline to get the entire stretch operational.

Conclusion

Chief Minister Devendra Fadnavis is expecting that by the end of 2022, over 90 lakh people would travel in the Metro trains. The system is much hassle-free and would definitely save a lot of time in commuting. Besides, rains might not become the hurdle in this system. Let’s see if MMRC adhere to the set deadline or not.