Budapest is a global city and primate city of Hungary regarding the economy and business also, accounts for nearly 40% of the national income. Budapest is one of the largest regional economies in the European Union. According to the Eurostat GDP per capita in purchasing power parity is 147% of the EU average in Budapest. Budapest is among the 100 largest GDP performing cities in the world and was named as the 52nd most important business center in the world in the MasterCard Worldwide Centres of Commerce Index, ahead of Beijing, Sao Paulo, Warsaw or Athens. The city is 48th on the UBS The most expensive and richest cities in the world list, stands before cities such as Prague, Shanghai, Warsaw or Buenos Aires. The city is a major center for banking and finance, retailing, trade, transportation, tourism, real estate, new media as well as traditional media, advertising, legal services, accountancy, insurance, theater, 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.