I was recently in in Los Angeles for business. It was my first time there and I did my rounds as a first-time tourist: Beverly Hills, Bel-Air, Hollywood sign and the Hollywood Walk of Fame which had the stars of all the famous celebrities. I even got a glimpse of Beyoncé at the Dolby Theatre when she arrived to grace the premiere of the Lion King!
Beyond the glitzy entertainment scene, Los Angeles does have a thriving business economy. Here’s my top 10 business facts about Los Angeles that I’d like to share with you:
- Los Angeles, meaning “The Angels” in Spanish, was officially founded on September 4, 1781, by Spanish governor Felipe de Neve. In 1848, at the end of the Mexican–American War, Los Angeles and the rest of California were purchased as part of the Treaty of Guadalupe Hidalgo, becoming part of the United States.
2. The County of Los Angeles is the most populous county in the United States with more than 10 million inhabitants as of 2018. Its population is larger than that of 41 individual US states. It is the third-largest metropolitan economy in the world, behind Tokyo and New York.
3. The median household annual income is over USD60,000 and the income inequality (measured using the Gini index) is 0.497, which is higher than the US national average.
4. With over USD800 billion in annual output, Los Angeles County ranks among the world’s largest economies. Its GDP would rank No. 19 in the world if it were a standalone nation, and is larger than Switzerland, Belgium, Norway, Taiwan and Saudi Arabia.
5. By 1923, Los Angeles produced one quarter of the world’s oil. It still sits atop the third largest oil field in the USA.
6. Los Angeles is the world’s leading trade and logistics infrastructure with the two largest sea ports in America (Los Angeles and Long Beach), the Alameda Corridor rail system and the U.S.’s third most active international cargo airport, LAX.
7. Los Angeles County is commonly associated with the entertainment and digital media industry; all six major film studios—Paramount Pictures, 21st Century Fox, Sony, Warner Bros, Universal Pictures and Walt Disney Studios—are located within the county.
8. Global billion dollar companies like Space X, Mattel and Snapchat have their headquarters in Los Angeles.
9. There are 841 museums and art galleries in Los Angeles County. In fact, Los Angeles has more museums per capita than any other city in the world.
10. Los Angeles is the only city in the world to host the Summer Olympics multiple times – 1932, 1984 and soon in 2028 for the third time.
To your success,
Mario Singh
[Visit www.mariosingh.com now to enjoy a FREE e-book of my latest “37 Essential Principles for Massive Success” when you subscribe!]
