San Jose Area Has World’s Third-Highest GDP Per Capita, Brookings Says
San Jose ranks third in the world in per-capita gross domestic product (GDP) after Zurich, Switzerland and Oslo, Norway, according to a new study out from the Brookings Institute on Thursday.
San Jose’s metro region GDP was $77,440 in 2014. The San Francisco-Oakland area ranked 12th at $66,790.
The study defined per-capita GDP as the “size of an economy relative to population. It is not personal income or household income, and does not reflect the distribution of income, but proxies the average standard of living in an area.”
China dominated the list of cities with the fastest growing economies, but only Macau (11th) ranked on the list of the top 20 cities in the world in per-capita GDP. Macau, the Chinese territory known for casino gambling, outperformed the rest of the world’s major cities to be ranked the fastest growing economy of 2014.