Revelation 18:1–8 contains a glorious angel’s pronouncement of doom on Babylon. This Babylon here appears to be a literal physical city, whereas the Babylon described in chapter 17 is a corrupt religious system. The Babylon of chapter 17 was associated with a political system but was not the political power. The Babylon of chapter 18 is the center of a demonic political, commercial, and economic system. The fall of Babylon parallels what happened to the cities of Sodom and Gomorrah (Genesis 19:1–29). Religious Babylon falls in the middle of the tribulation to the delight of kings. Commercial Babylon falls at the end of the tribulation, and kings lament her fall.
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“Revelation 18:2” Bibleref.com
2 He cried with a mighty voice, saying, “Fallen, fallen is Babylon the great, and she has become a habitation of demons, a prison of every unclean spirit, and a prison of every unclean and hateful bird!