Asia-Pacific (APAC) region dominated the 2024 Forbes Global 2000 list, with 771 APAC headquartered companies contributing to 38.5% ($18.5 trillion) of the total aggregate revenue ($51.9 trillion) of all the listed companies, according to GlobalData, a leading data and analytics company.
North America stood second with 688 companies generating a combined revenue of $19.8 trillion; followed by Europe with 420 companies generating a combined revenue of $11.5 trillion. The Middle East and Africa with 67 companies generated a combined revenue of $1 trillion, and South & Central America with 55 companies generated a combined revenue of $1.02 trillion.
North America companies accounted for 43.2% of the total $4.6 trillion profit pool of the companies in the Forbes 2000 list, followed by APAC with 29.6%, Europe (20.6%), the Middle East and Africa (4.8%), and South and Central America (1.9%).
The Middle East and Africa surprisingly dwarfed all other regions in terms of generating profit through per unit of revenue with a net profit margin of 21.8%, followed by North America (9.9%), South and Central America (8.6%), Europe (8.1%), and Asia-Pacific (7.3%).
The breakup by sector reveals that the top five sectors by revenue accounted for 65.6% of the 2024 Forbes 2000 revenue pool, and 56% of total companies, which translates into $34 trillion and 1,126 companies, respectively.
Financial services, technology & communications, and oil & gas were the leading profitable sectors with a combined aggregate profit of over $1.5 trillion, $783.2 billion, and $585.7 billion, respectively.
The technology & communications reported the highest net profit margin of 12.7%, followed by financial services (12.4%), pharmaceuticals and healthcare (11%), consumer goods (8.8%), and oil & gas (8.5%).
Few notable first-time entries include GE Vernova, GoDaddy, and Jio Financial Services.
Murthy Grandhi, Company Profiles Analyst at GlobalData, comments: “Financial services, and oil & gas sectors dominate the 2024 Forbes Global 2000 list because of their essential roles in global economic activities and sustaining the energy supply chains. Financial services continue to thrive on digital banking innovations, increased consumer access to financial products, and evolving investment landscapes.
“Meanwhile, the oil & gas sector remains integral due to the ongoing global energy demands, though it is increasingly focusing on sustainable practices and transitioning to renewable energy sources. Going forward, financial services sector is poised for growth through technological advancements and evolving regulatory environments, while the oil & gas sector is poised to navigate the balance between traditional energy production and green energy initiatives. Economic growth, technology adoption, and shifting consumer preferences will be key drivers shaping their futures.”
