Dubai has been named as the number one expansion target by nearly a quarter of companies based in Asia, Europe and North America, according to a new survey.
The report by the Alliance Business Centres Network for the Middle East and North Africa showed that Dubai ranked first among the best centres for the expansion of companies on a global level.
The survey noted that Dubai was the choice of 21 percent of the 300 companies that participated in the survey from Asia, Europe and North America, news agency WAM reported.
It also revealed that Singapore ranked in second position with 19 percent, followed by Hong Kong in third place with 18 percent.
New York was ranked fourth, with 13 percent, and London came fifth with 10 percent. A total of 19 percent of companies’ choices were distributed among other cities scattered all over the world.
African countries ranked first among the target markets for expansion in general by 43 percent of participating companies in the survey, followed by Asia with 37 percent, North America 10 percent, Europe 6 percent, while 4 percent of companies chose South America as their favorite destination for expansion.
Sherif Kamel, president of Alliance Business Centres Network for the Middle East and North Africa, said that the survey revealed the most attractive factors to attract aspiring companies for expansion globally included the ease of doing business and establishing companies.