In 2021, the market share of Beijing-based public companies stood at 22.9%, topping the global top 25 cities by gross domestic product (GDP), followed by Tokyo and London-based public companies in terms of aggregate revenue, says GlobalData.
The leading data and analytics company found that in terms of the top 25 cities*, the US has the highest number of cities with 13 followed by China with five cities. The top 25 cities were home to over 8,300 public companies, of which 31.6% were based out of Japan, followed by China (26.6%), the US (17.9%), South Korea (11.5%), the UK (8.1%), Russia (1.3%), and Mexico (0.8%).
Companies that were headquartered in the top 25 cities accounted for 38.0% of the aggregate revenue of the total sample size in 2021. However, due to COVID-19 and the resultant lockdowns and supply chain disruptions in 2020, the aggregate revenue contribution from these 25 cities declined by 0.4% in 2021. In addition, the ongoing semiconductor/chip shortage has significantly impacted the automobile sector, with labor shortages placing further strain on public companies.
Adneya Wadetiwar, Company Profiles Analyst at GlobalData, said: “In terms of aggregated revenue and the number of companies in the top 25 list, Beijing, Tokyo, and London were the largest.
However, they were behind Seattle, Paris and Washington in terms of average revenue per company in 2021. Seattle reported average revenue of $15.4 billion per company, followed by Paris ($11.2 billion) and Washington ($10.8 billion), whereas Beijing, London and Tokyo witnessed $9 billion, $4.0 billion and $2.5 billion, respectively.”
Interestingly, in terms of revenues, Houston witnessed significant revenue growth with 44.4%, followed by Moscow (38.5%) and Chongqing (33.9%) between 2020 to 2021. Whereas the Japanese cities, Tokyo and Osaka, witnessed a decline in revenue between 2020 to 2021. Beijing overtook Tokyo in terms of aggregate revenues due to the public companies generating higher revenues in 2021 over the previous year.
The Asia-Pacific (APAC) region, which accounts for than 5,800 public companies, is the highest contributor with 23.4% of the total revenue generated by the public companies in 2021, followed by the US with 7.5%.
