Business Irish

Wednesday 22 November 2017

Dublin ranks high on rich city list

Peter Flanagan

Peter Flanagan


IRELAND may have endured four years of austerity and unemployment may be topping 14pc, but Dublin is still one of the richest cities in the world.

A new report from the Brookings Institute in Washington found Dublin still has the 14th highest income per capita in the world at $55,578 (€42,960) ahead of the likes of Paris, London and Los Angeles. That makes Dublin the fourth highest paying metropolitan area in Europe. Only Oslo, Stockholm and the banking haven of Zurich rank higher.

The survey is not all good news for Dublin though. Of the 200 biggest metro areas in the world, Dublin ranks 198th in terms of growth, with income declining by 0.3pc in the past year while employment fell 3pc. Only Lisbon and Athens rank below the capital.

Globally, the report ranks Hartford, a town in Connecticut often called the 'Hedge Fund Capital of the World' because of the number of funds that have been set up there, as the highest earning area on the planet with per capita income of $75,086. Cairo is bottom of the table at $1,989 per annum.

The 15 fastest growing metro areas are all in emerging markets, led by Shanghai.

Irish Independent

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