The Richest European Cities

January 29, 2024

Have you ever thought about relocation to the EU? If this opportunity seems attractive, you may be interested in discovering the wealthiest European countries and cities where you can live. The living standards are typically the highest in cities with the largest GDP per capita, so we are going to take this factor into account. In this post, we will take a look at the most prosperous European cities. If you want to know more about relocation opportunities, investment, business and banking in different countries, visit this webpage.

Luxembourg

This is a small European country with a population of about 130,000 people whose name coincides with its capital – and one of those that founded the European Union! The country is officially called the Grand Duchy of Luxembourg and has the highest GDP per capita in the world. 46% of the GDP is generated from financial services provided by the metropolitan area. Its capital, Luxembourg, is the wealthiest city not only in Europe but also in the whole world!

The country’s financial industry is thriving, and you will find a lot of insurance companies, investment funds, and banks here. Luxembourg boasts a very low level of corruption and an extremely stable political situation. All this taken together naturally attracts huge investments from abroad and makes the country an ideal place for business. The capital offers a favorable taxation system, which attracts an enormous number of holding companies.

Come to Luxembourg to live in the world’s wealthiest city or set up your business here to take advantage of the advantageous geographical location, low taxes, highly skilled workforce, political stability, and robust financial sector!

Dublin, Ireland

Dublin is the capital of Ireland which is still an EU member unlike its neighbor, Great Britain. Over the past decade, the country has made a significant leap forward by increasing its GDP, and this growth was stimulated to a large degree by numerous transnational corporations established here. Why do they opt for Ireland? Well, it offers the best taxation rates in Western Europe!

Greater Dublin is home to about 2,073,000 people, with a GDP amounting to 117,700 US dollars. This makes the metropolis the second wealthiest European city after Luxembourg. Dublin is the heart of the country’s economy, about half of the total GDP is generated here. Some multinational technological giants are headquartered here, including Microsoft, Facebook, and Google. This fact created a demand for tech specialists and thus boosted the capital’s economic growth. Pro-business laws and low tax rates make Ireland a real draw for entrepreneurs and investors from across the globe.

Frankfurt, Germany

You may have guessed that we are going to present the third wealthiest city in the European Union, and this is Frankfurt with 102,940 dollars per capita. This is the EU’s main financial center as it is the seat of the European Central Bank and the place where one of the world’s largest stock exchanges, the Frankfurt Stock Exchange, is located. Frankfurt is a European center of asset management, insurance, and commercial and investment banking.

The local economy benefits a lot from Frankfurt’s location in the center of the EU and an excellent transportation network: you will find railroad lines and many autobahns here, as well as a huge international airport.

Frankfurt is also a center where many large industrial companies are headquartered:

  • Foreign car manufacturers: Kia, Honda, Hyundai, and Fiat
  • Some major European construction companies
  • Foreign food industry giants: Ferrero and Nestle
  • Large IT and telecom companies: Finanz Informatik, Lufthansa Systems, DB Systel, Fujitsu, and T-Systems

What is more, there are a lot of rich people in Frankfurt: 14 billionaires and 117,400 millionaires live here.

In Frankfurt, you will be able to take advantage of highly skilled workforce, a robust banking sector, a diversified economy, a strategic location, and a favorable business environment.

Helsinki, Finland

This is the fourth wealthiest European city with the lion’s share of the GDP coming from the state and service sector. Greater Helsinki produces around one-third of the country’s GDP and is home to 1,100,000 people, with 1,000 millionaires among these.

Helsinki is among the top 25 most innovative megalopolises globally, and its metropolitan area is Finland’s largest urbanized area and an important economic and cultural region. There are a lot of technological startups here, and Nokia and Rovio are headquartered here.

Helsinki is a really good choice for relocation as the living standards here are very high and the social security system is excellent.

Milan, Italy

Milan is the business capital of Italy with a great number of major local corporations and international companies headquartered here. The metropolis with a population of 3.4 million people generates one-tenth of the country’s GDP, with 900 residents having the UHNWI status (worth more than 30 million each).

We have all heard of Milan’s fashion houses, such as Armani, Versace, Gucci, Dolce & Gabbana, Prada, and Valentino. It received the status of a fashion capital in 2009 as many well-known brands from London, Rome, Paris, New York, and other large cities are managed from here. People from different countries arrive here for shopping, so billions come to the city every year.

Here are some large companies whose headquarters are located here:

  • Pirelli (a tire manufacturer)
  • Vodaphone Italy (a telecom company)
  • Luxottica (a major European eyewear manufacturer)
  • Intesa Sanpaolo (banking)
  • Alfa Romeo (automotive industry)

Milan is Italy’s business and industrial hub with a well-developed tourist industry and a strategic location.

Stockholm, Sweden

Stockholm, the capital of Sweden is the sixth wealthiest city in Europe with a population of 1,750,000 people (Greater Stockholm) which gives about 143 billion dollars of GDP per year. The best-developed sector in the city is the service sector which gives jobs to 85% of people, with 10% working in the processing industry. There are no heavy industry production facilities here, which makes the city one of the cleanest cities in Europe.

40% of all local companies that employ more than 200 workers are headquartered here. You surely know the following corporations:

  • Swedbank (banking)
  • Electrolux (household appliances)
  • Ericsson (telecom)
  • AstraZeneca (drug manufacturer)
  • ECDC (European Center for Disease Prevention)

Welcome to Stockholm and take advantage of the excellent social security system and high living standards!

Interested? Follow the above link to read more and get free help with relocation!

 

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