Atlanta is now among the top ten richest cities in America, according to a recent report by the Atlantic Cities magazine.
The report, which is detailed by the Atlanta Business Chronicle, listed the top 30 richest cities in America and placed Atlanta at No. 10. The study that the report is based on compared the richest 30 cities in America from 1978 to the richest cities in 2010, ranked by the real gross domestic product in each city.
Back in 1978, Atlanta came in at No. 15 with a GDP of $69 billion. In 2010, it rose to $250 billion.
The reason? Atantic explained that the shift away from manufacturing toward the service industry caused many people to move from declining industrial centers to states with cheaper real estate and warmer weather — allowing Atlanta to move into the top ten.
Buckhead has no doubt been a contributing factor to Atlanta's economic rise, as shoppers alone spend more than $1 billion annually in the more than 1,400 retail units in the shopping district at the intersections of Lenox, Peachtree and Piedmont Roads, according to information available at Wikipedia.
This same information points out that Forbes Magazine consistantly cites Buckhead as being home to the ninth-wealthiest zip code in the United States (30327), which has a household income in excess of $341,000.
In much the same way, Robb Report magazine frequently ranks Buckhead as one of the nation's "10 Top Affluent Communities" because of its mansions that are situated among the best in retail and dining.