hub, classified as a Beta + world city in the study by the Globalization and World Cities Research Network and it is the second fastest-developing urban economy in Europe as GDP per capita in the city increased by 2.4 per cent and employment by 4.7 per cent compared to the previous year in 2014. On national level, Budapest is the primate city of Hungary regarding business and economy, accounting for 39% of the national income, the city has a gross metropolitan product more than $100 billion in 2015, making it one of the largest regional economy in the European Union. According to the Eurostat GDP per capita in purchasing power parity is 147% of the EU average in Budapest, which means €37,632 ($42,770) per capita. Budapest is also among the Top100 GDP performing cities in the world, measured by PricewaterhouseCoopers. The city was named as the 52nd most important business centre in the world in the Worldwide Centres of Commerce Index, ahead of Beijing, São Paulo or Shenzhen and ranking 3rd (out of 65 cities) on MasterCard Emerging Markets Index. The city is 48th on the UBS The most expensive and richest cities in the world list, standing before cities such as Prague, Shanghai, Kuala Lumpur or Buenos Aires. In a global city competitiveness ranking by EIU, Budapest stands before Tel Aviv, Lisbon, Moscow and Johannesburg among others. The city is a major centre for banking and finance, real estate, retailing, trade, transportation, tourism, new media as well as traditional media, advertising, legal services, accountancy, insurance, fashion and the arts in Hungary and regionally. Budapest is home not only to almost all national institutions and government agencies, but also to many domestic and international companies, in 2014 there are 395.804 companies registered in the city. Most of these entities are headquartered in the Budapest's Central Business District, in the District V and District XIII. The retail market of the city (and the country) is also concentrated in the downtown, among others through the two largest shopping centres in Central and Eastern Europe, the 186,000 sqm WestEnd City Center and the 180,000 sqm Arena Plaza. Budapest has notable innovation capabilities as a technology and start-up hub. Many start-ups are headquartered and begin their business in the city, some of the best known examples are Prezi, LogMeIn or NNG. Budapest is the highest ranked Central and Eastern European city on Innovation Cities'