A new report featuring a ranking of the world’s richest cities was released earlier this month, and Vancouver cracked the list, placing just outside the top 100.
The top spot on the list, the world’s richest city, is Tokyo, with what the ranking calls a “staggering” GDP of US$2.55 trillion.
Meanwhile, Vancouver has a GDP of around US$460 billion, ranking 107 on the list.
While it trails cities like Tokyo, New York, Los Angeles, Seoul, Paris, and London, Vancouver is richer than some other major cities like Dubai and Zurich.
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Vancouver was wedged between other Canadian cities. Toronto had the highest spot for Canada, ranked 22nd. Montreal ranked 76th, while Calgary ranked 159th, slightly ahead of Edmonton at 190th. The last Canadian city on the list was Ottawa, placing 195th.
Vancouver also trails its PNW neighbours of Seattle-Tacoma-Bellevue, which ranked 18th.
The report from CEOWORLD magazine says that the urban powerhouses that lead the list, including some of the aforementioned spots like New York, L.A., and Tokyo, “form the economic backbone of the global economy–commanding capital, innovation, and influence at an unparalleled scale.”
CEOWORLD says that all 300 cities that are part of the ranking “represent the beating heart of global commerce” and represent a significant share of worldwide GDP.
“They are not just cities; they are economic ecosystems shaping how money moves, technology evolves, and policy decisions ripple through the markets.”
According to the report, while GDP is the most widely used yardstick for comparing wealth between cities, it’s not the entire story.
“Tokyo’s economic might, for instance, is built on decades of innovation in technology, automotive engineering, and precision manufacturing. Meanwhile, New York thrives as the nerve center of global finance, home to Wall Street, the New York Stock Exchange, and a dynamic startup ecosystem.”
The report also delves into what has helped Tokyo stand so far apart from its global counterparts, saying the Japanese city’s dominance is “no accident.”
“The city remains a benchmark for operational excellence, technological sophistication, and disciplined economic governance. Japan’s capital integrates innovation with infrastructure like few others—its transportation systems, financial networks, and industrial supply chains operate with unmatched precision.”
Despite Vancouver not being on par with some of the world’s most prosperous cities, it’s seeing strong growth in the number of millionaires it homes.