A recently published global wealth index has ranked Tokyo as the richest city in the world, surpassing New York, London, and Los Angeles. The Japanese capital has a GDP of $2.55 trillion, narrowly edging out New York with $2.49 trillion and the Los Angeles metropolitan area with $1.62 trillion, according to the CEO World Magazine's Global Wealth Index, published last Friday as reported by The Japan Times. The index ranks 300 cities based on their share of global GDP and other key factors. The index pointed out that Tokyo topped the list thanks to its 'operational efficiency, technological advancement, and economic governance discipline, as well as its transportation systems, financial networks, and industrial supply chains operate with unparalleled precision.' New York retained its ranking thanks to its prestigious status as a global financial hub and a thriving environment for startups, while the entertainment economy in Los Angeles was bolstered by its technology and aerospace sectors. According to the index, GDP is the most commonly used benchmark for measuring a city's wealth, however, other factors such as technological and industrial superiority and intellectual capital are also considered significant. Other Japanese cities also made the CEO World Magazine list, with Osaka-Kobe placing eighth and Nagoya at 30th.
