What are the top five cities for business travel?

London for businessSome cities are better for doing business than others, it seems. Of course, business travelers (well, professionals in general) all have their preferences. Having done my time in Omaha, Winnipeg and London (Ontario), I can tell you that some places are better than others. So, I was pretty excited to see think tank Z/Yen put out its Global Financial Centres Index (PDF), which shows the top five cities in the world in which to do business.

There aren’t many suprises at the top end of the list, which comes out twice a year. The rankings are determined using “five key areas of competitiveness,” according to Inside Investor Relations: people, business, environment, market access, infrastructure and general competitiveness.”

So, what are the top five?

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1. London
2. New York
3. Hong Kong
4. Singapore
5. Shanghai

As you can see, 60 percent of the top of the heap are in Asia, which signifies a spike in recent years. Inside Investor Relations reports that there were only three Asian cities in the top 20 when the index was first published in March 2007. Now, there are not only three in the top five but eight in the top 20, while North America has only six and Europe five.

Interestingly, the study notes that the top three are effectively tied. Inside Investor Relations notes:

According to the study, however: ‘there remains no significant difference between London, New York and Hong Kong… respondents continue to believe that these centers work together for mutual benefit.’

The top financial center in the Middle East is Dubai, which comes in at 28th overall. It is two places above Qatar. Next are Bahrain at 49th and Riyadh at 70th, still way back in the distance.

[Photo by TJ Morris via Flickr]