Many cities in emerging markets are attracting a similar number of international office occupiers as established business centers, according to a study by CB Richard Ellis (CBRE). According to Business Footprints, which compares the office presence of 280 major companies across 101 countries and 232 cities, 17 of the top 30 most popular company office locations are in emerging markets.
CBRE's research identified Shanghai and Moscow as the most popular business locations across all emerging markets. Shanghai is home to 172 of the companies profiled (61.4%), and is closely followed by Moscow, where 170 (60.7%) are present.
Beijing is the next highest ranked business centre across all emerging markets, with 169 of the 280 companies (60.4%) surveyed having an office presence in the city.
The high ranking of both Chinese cities is explained by two things: China's importance as an off-shoring location and a manufacturing base (which, in turn, requires an office presence), and its growing status as a consumer market for both locally manufactured and foreign-made goods.
Other cities in the rapidly expanding "BRIC" markets which rank among the world's top 30 business locations include Sao Paulo (52.1% of companies surveyed have an office in the city), and Mumbai (43.2%).
The report also indicates a number of cities in less developed emerging markets are home to a significant proportion of international companies.
Joanna Mroczek, director of Research & Consultancy at CBRE in Poland, said: 'Warsaw is ranked as the 5th most attractive business location across all emerging markets. 150 (53.6%) of 280 international companies surveyed have their offices in a capital of Poland. Warsaw is ranked as the 12th most popular business location overall, behind New York (11th) and Paris (10th).'
'It shows that Warsaw is one of most significant business centers in Europe. For largest international companies, Warsaw is as much important location as other economically developed capitals and business centers. Large corporations will be followed by smaller players on the market, what indicates development potential of our country and Warsaw,' added Joanna Mroczek.