Singapore ranks near top as key centre of commerce

MasterCard Worldwide Research released its 2008 report (PDF file), ranking Singapore as the second centre of commerce in Asia and fourth in the world. Singapore bypassed Hong Kong which moved to sixth this year. MasterCard's research is designed to provide information on how leading cities influence the global economy.

London remains in first place and the report indicates that Europe and Asia are the strongest areas now, and for the future. Singapore ranks high due to factors like political stability and ease of doing business. S'pore business analysts warn that, despite its strong showing, it cannot rest on its laurels because other Asian cities like Tokyo and Hong Kong are all very close on the list.

Some of the key findings of the report are that Asian countries occupy 8 of the 25 top spots and that Shanghai leapt eight places into the top 25 as well. Outside of Asia, Madrid rose to the top five in Europe and Amsterdam gained momentum as a key city centre of commerce.

Image Source MasterCard
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