New York to remain world’s largest urban economy, with San Jose the U.S.’s fastest growing: report [MarketWatch]
International Business Machines Corporation (IBM)
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Source: MarketWatch
New York to remain world’s largest urban economy, with San Jose the U.S.’s fastest growing: report A new report predicts New York City will retain its crown as the largest urban economy in the world, as San Jose, Calif., set to be the fastest growing. Oxford Economics says in its annual Global Cities report that financial and business services will keep New York City in first place in 2035. In that year, the report projects New York City to have annual output of $2.5 trillion after adjusting for inflation. Tokyo, the report projects, will be No. 2 by “some margin,” followed by Los Angeles and London. Chicago is the third and final American city placing in the top 10. Oxford Economics projects that by 2027, the combined GDP of all Asian cities in its forecast will exceed the aggregate GDP of North American and European cities combined. As for fastest growth, the de facto Silicon Valley economic capital San Jose leads the way in the U.S., with projected growth of 3% per year between 201
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