Singapore loses to Hong Kong as most popular city for international businesses
The cities are only two companies apart, with Singapore home to 67.5 percent of surveyed firms.
According to new research by CB Richard Ellis, the world’s largest companies are opting to locate their offices in booming Asian economies, reflecting a shift in global economic power.
Hong Kong tops the survey, as it is home to 68.2 percent of surveyed companies. The survey shows number of companies with office presence in Hong Kong is 191 while for Singapore is 189. Tokyo lands at third place with 63.9 percent. London ranks in fourth place globally with 63.2 percent of companies surveyed basing some part of their operations in the capital. The top five is completed by Shanghai (61.4 percent) which is increasingly adopting the role of financial and business capital of China.
The survey also covered the level of penetration by companies in various sectors across the globe including banking & financial services, energy, transport, distribution & retail, pharmaceutical & healthcare, industrial goods & services, media, F&B, professional services, mining & construction and insurance.
Singapore is the top choice for companies in the industrial goods & services sector, and among the top 5 in media and banking & financial services.
Business Footprints analysed the office locations of 280 of the world’s largest companies across 232 cities.