March 22, 2017
Anyone who’s spent time in Dubai, knows its a great place to live and work. That fact has again been confirmed by a recent study by Fortune Magazine which shows that Dubai is by far the most favoured city in the Middle East and Africa (MEA) for the world’s largest 500 companies from which to base their regional headquarters.
As reported by The National Dubai is well ahead second placed Johannesburg, South Africa, according to the analysis of the 500 largest companies by revenue, an annual list compiled by Fortune magazine.
Dubai is by far the best place to be operating in the region from a legal standpoint, for connectivity and for living conditions
Research company Infomineo found that of these 500 companies some 196 had a dedicated office to cover the region. Of that total, 138 companies had their MEA headquarters in Dubai, way ahead of Johannesburg’s 58 and up 11 on the previous year.
“Dubai is by far the best place to be operating in the region from a legal standpoint, for connectivity and for living conditions” said Martin Tronquit, Infomineo’s managing partner.
The emirate also benefits from what he calls “the network effect”, which explains why nearby Abu Dhabi, which has virtually the same infrastructural benefits and high living standards, has failed to get much spillover in terms of attracting major companies.
“There is not much difference between Abu Dhabi and Dubai, but historically Dubai didn’t have the advantage of being the oil capital and government centre so had to develop as the commercial and financial centre; so now is benefiting from that legacy,” Mr Tronquit said.
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