section_path: Economy
section_name: Economy
paragraph_text: Economy
  
  Jakarta GDP share by sector (2022)
  
  Indonesia is the largest economy of ASEAN, and Jakarta is the economic nerve centre of the Indonesian archipelago. Jakarta's nominal GDP was US$203.702 billion and PPP GDP was US$602.946 billion in 2021, which is about 17% of Indonesia's. Jakarta ranked at 21 in the list of Cities Of Economic Influence Index in 2020 by CEOWORLD magazine. According to the Japan Center for Economic Research, GRP per capita of Jakarta will rank 28th among the 77 cities in 2030 from 41st in 2015, the largest in Southeast Asia. Savills Resilient Cities Index has predicted Jakarta to be within the top 20 cities in the world by 2028. Jakarta's economy depends highly on manufacturing and service sectors such as banking, trading and financial. Industries include electronics, automotive, chemicals, mechanical engineering, and biomedical sciences. The head office of Bank Indonesia and Indonesia Stock Exchange are located in the city. Most of the SOEs include Pertamina, PLN, Angkasa Pura, and Telkomsel operate head offices in the city, as do major Indonesian conglomerates, such as Salim Group, Sinar Mas Group, Astra International, Gudang Garam, Kompas-Gramedia, CT Corp, Emtek, and MNC Group. The headquarters of the Indonesian Chamber of Commerce and Industry and Indonesian Employers Association are also located in the city. As of 2017, the city is home to six Forbes Global 2000, two Fortune 500 and seven Unicorn companies.
  
  Google and Alibaba have regional cloud centres in Jakarta. In 2017, the economic growth was 6.22%. Throughout the same year, the total value of the investment was Rp 108.6 trillion (US$8 billion), an increase of 84.7% from the previous year. In 2021, nominal GDP per capita was estimated at Rp 274.710 million (US$19,199). The most significant contributions to GRDP were by finance, ownership and business services (29%); trade, hotel and restaurant sector (20%), and manufacturing industry sector (16%).
  
  The Wealth Report 2015 by Knight Frank reported that 24 individuals in Indonesia in 2014 had wealth of at least US$1 billion and 18 live in Jakarta. The cost of living continues to rise. Both land prices and rents have become expensive. Mercer 's 2017 Cost of Living Survey ranked Jakarta as 88th costliest city in the world for expatriates. Industrial development and the construction of new housing thrive on the outskirts, while commerce and banking remain concentrated in the city centre. Jakarta has a bustling luxury property market. Knight Frank, a global real estate consultancy based in London, reported in 2014 that Jakarta offered the highest return on high-end property investment in the world in 2013, citing a supply shortage and a sharply depreciated currency as reasons.