Mumbai to join top rich cities list

New Delhi, Mar 17 (UNI) Mumbai will soon join the top-30 rich cities but way behind Tokyo, New York and London according to PricewaterhouseCooopers (PCW).

None of the top 30 fastest-growing large cities are from major advanced countries and the five emerging economy cities are currently in the top 30 - Mexico City, Buenos Aires, Sao Paolo, Moscow and Rio de Janeiro - and will be joined in 2020 by Shanghai, Mumbai, Istanbul and Beijing.

London by 2020 will be in fourth place, overtaking Paris and Chicago - and while Tokyo, New York and Los Angeles will remain above it. "London's economy is projected to grow faster than any of these cities, driven in particular by strong growth in business and financial services," said the research by PCW.

Tokyo topped the list in 2005 with a GDP using Purchasing Power Parity (PPP) of 1.2 trillion dollars, followed by New York on 1.1 trillion dollars. Los Angeles was on 639 billion dollars, Chicago and Paris 460 billion dollar and London 452 billion dollas.

UNI