Asia - the best cities to work and play in
29 Aug, 2008, Asia Pacific
Which is the best regional head office location? What factors determine the choice of a location?
Answers to the above questions, and more, can be found in Asia Pacific Cities Monitor 2008, a comparative report released by Cushman & Wakefield. The report examines the factors that determine the choice of one location over another when MNC’s expand their presence in the region and includes comparisons of how the region's leading cities perform in key categories, ranging from those offering the best value in office space, to the best city in which to locate a new headquarters.
Access to markets and availability of qualified talent pool were decidedly the two overwhelming factors influencing business decisions of MNC’s in the Asia Pacific region.
Hong Kong ranked highest as the best city to locate a business followed by Shanghai and Singapore tied for the second spot.
Singapore led the pack as the preferred HQ destination. Factors such as its central location and connectivity to other parts of Asia Pacific, quality of talent and infrastructure, transparency and ease of doing business, quality of life for employees, rendered it that status.
Paradoxically, China has the greatest source of potential customers and clients but not enough skilled staff and transparency in business, resulting in mainland China not featuring very highly in this survey.
Indian cities monopolized the rankings for back office locations but were not preferred as HQ destinations. “Its geography relative to the rest of Asia makes it less likely to be an Asian regional HQ,” said Dr. Megan Walters, C&W’s Regional Director for Research and Business Analytics. It featured prominently as a major market for future expansion. The up and coming locations for manufacturing and sourcing are Vietnam, (especially Ho Chi Minh City), Bangladesh and Pakistan.
This comprehensive monitor covers 16 cities across 13 countries and territories.
Respondents selected were senior managers of prominent MNCs having strong business representation across the 13 countries. Access Asia, an independent provider of market intelligence for companies and institutions seeking reliable information, researched the document.
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