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You do realize L.A, a megacity with a mega economy and the second largest city in the worlds largest economy, Toronto (anchoring the Greater Toronto Area home to the worlds 9th largest Stock exchange) and S.F (anchoring the bay area and all its tech wonders - heard of google, apple, oracle for example?) all have larger nominal gdp's than Hong Kong, Singapore, Beijing and Sydney for example.. They are also ranked by Gawc as Alpha class world cities so yes they are international places of business and economic strength.
when I hear my friends and bosses talk shop about international settlements and trade contracts or when I attend international conventions, cities like London, New York, Paris, Geneva pop out; I keep hearing about Toronto as a nice place for retirement via property purchase, though. I will think SF got an edge as being near to Silicon Valley. It gives a impression of being full of young, hungry starts-ups and full of VCs; didn't really hear much about LA at these conventions.
Maybe it is because these cities are more integrated and have more economic trade, business links with their national economy of US and Canada rather than with other nations; that why it didn't ring a bell with me.
Not really, though, when I hear my friends and bosses talk shop about international settlements and trade contracts or when I attend international conventions, cities like London, New York, Paris, Geneva pop out; I keep hearing about Toronto as a nice place for retirement via property purchase, though. I will think SF got an edge as being near to Silicon Valley. i didn't really hear much about LA at these conventions.
Maybe it is because these cities are more integrated with their national economy of US and Canada rather than with other nations; that why it didn't ring a bell with me.
You are talking about friends and bosses talking talk shop about international settlements and trade contracts lol.. ok anyway I stick by what i said
All three of these cities have huge economies and are not only important to their own national economies but also on the world markets. Toronto for example as I mentioned has the 9th largest stock exchange in the world and is one of the worlds largest financial centres.. Another poster has identified L.A's importance and the Bay area needs no explanation due to its tech giants and all three have large GDP's easily in the top 20 in the world in terms of nomimal GDP measures.
LA is not really the city with second largest economy in the world though, it's probably New York as Tokyo is by far the largest.
L.A is the second largest city economy in the worlds largest nation economy.. With that said L.A has a larger GDP than London and Paris. There is more to being economically powerful than GDP of course, but L.A is clearly a powerful city economically and as per the list is also powerful for other reasons. I mean metro L.A is over 15 million people and has a GDP of about 800 Billion... any way you slice it - L.A is a beast.
You are talking about friends and bosses talking talk shop about international settlements and trade contracts lol.. ok anyway I stick by what i said
All three of these cities have huge economies and are not only important to their own national economies but also on the world markets. Toronto for example as I mentioned has the 9th largest stock exchange in the world and is one of the worlds largest financial centres.. Another poster has identified L.A's importance and the Bay area needs no explanation due to its tech giants and all three have large GDP's easily in the top 20 in the world in terms of nomimal GDP measures.
I don't deny the GDP hard figures, just my POV on how it registers in other people's minds. This is fascinating, how different business people have different views what makes a economically powerful city.
One has to take city GDP's with a pinch of salt sometimes. For example Detroit is one the world's richest cities - even though it has plenty of middle class and rich, it's got huge amounts of poor also. It's average income is far, far higher than it's median income - thanks to 15 billionaires who call it home, and making it richer than San Diego, Las Vegas or Phoenix, who have far higher median incomes, and even over larger populations ( and that's not even mentioning megacities abroad, like 22 million Delhiwallers who collectively score below Detroit on a nominal basis). I think some kind of Gini Coefficient that measures inequality should come into things more, as otherwise it skews the picture.
One has to take city GDP's with a pinch of salt sometimes. For example Detroit is one the world's richest cities - even though it has plenty of middle class and rich, it's got huge amounts of poor also. It's average income is far, far higher than it's median income - thanks to 15 billionaires who call it home, and making it richer than San Diego, Las Vegas or Phoenix, who have far higher median incomes, and even over larger populations ( and that's not even mentioning megacities abroad, like 22 million Delhiwallers who collectively score below Detroit on a nominal basis). I think some kind of Gini Coefficient that measures inequality should come into things more, as otherwise it skews the picture.
This is the best post in this thread i have seen so far.
Yeah they pay tax and have offices in Dublin but half them were created and headquatered in the Bay Area.
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just my POV on how it registers in other people's minds. This is fascinating, how different business people have different views what makes a economically powerful city.
