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In 2008 it was the fourth most economically powerful city by GDP in the European Union and 35th among global cities. In 2012 Barcelona had a GDI of US$80.4 billion, with a GDP per capita of $32,156 (ranked 2nd globally within living standards). Barcelona is considered an alpha world city according to GaWC studies, which is one step below that of global cities such as New York City or London; its IDI (International Institute for Management Development) also ranks Barcelona as an "Alpha" world city.