Dubai is world's 37th top business hub

Dubai ranks in the 37^th spot among the world's top 50 centres of commerce that drive the global economy, according to a recent MasterCard survey.

The emirate, as a regional air and cargo traffic hub and with a flexible business climate, was named the leading centre in the Middle East in the "Worldwide Centres of Commerce Index" report from the credit card giant.

The survey ranks the world's top cities in terms of their performance as business hubs in the global economy.

"Dubai is an interesting case that points to the making of a whole new region, one not centered in the operational map of the top 100 global service firms," the report states.

"Only in the last few years has Dubai become an important financial and business center at the heart of a new emergent region... Its financial global connectivity is not principally derived from Western financial firms but is increasingly based on its own and the region's firms," it adds.

London, New York and Tokyo take the top three spots while the three Asian economic giants - Hong Kong, Singapore and Seoul - are among the top 10.

Nine US cities are among the top 50 - all are ranked in the top 25 - as they benefit from strong legal and political framework and economic stability, according to the report.

The index, which MasterCard plans to release annually, was judged on six criteria: legal and political framework, economic stability, the ease of doing business, volumes of financial flow, attributes as a business centre, as well as knowledge creation and information flows.


MasterCard Worldwide Centres of Commerce Index: Top 10 Rankings
(Scores out of a possible 100 points):

1. London 77.79
2. New York 73.80
3. Tokyo 68.09
4. Chicago 67.19
5. Hong Kong 62.32
6. Singapore 61.95
7. Frankfurt 61.34
8. Paris 61.19
9. Seoul 60.70
10. Los Angeles 59.05

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READERS' COMMENTS

God Bless Dubai
Posted by bini dawed, Dubai, UAE on Sunday 24 June 2007 at 17:00 UAE time


If dubai take corrective actions in legal aspects and improve the life of low level residents(the backbone of the economy)we will be from the top 20s in very short time.

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