Three Asian cities top the list of the world's most popular cities for global businesses, with Hong Kong grabbing the highest spot followed by Singapore and Tokyo, respectively. London and Shanghai rounded out the top five.
The study, conducted by real-estate consultancy CB Richard Ellis, analysed office locations for 280 international firms. Sixty-eight percent of the respondents, or 191 firms, had an office in Hong Kong while about 67.5 percent, or 189 companies, had an office in Singapore, said the report entitled "Business Footprints: Global Office Locations 2011."
Edward Farrelly, director of the real-estate firm's research for Hong Kong, Macau and Taiwan, says that Hong Kong topped the list due to its location, lack of foreign ownership rules, tri-lingual mix and international, highly-skilled workforce, despite it being the the world's most expensive place to rent office space in 2010.
Moscow, Beijing, Madrid, Dubai and Paris rounded out the top 10, with New York in 11th place, the report said.
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