25 Best Cities for Business in the World to Make Money

Yes, there are best cities for business in the world, especially to make really good money. This article reveals some of the best such cities.

 

Importance

When you mention various cities located around the world, often, something that is associated with that city comes to mind.

For example, if you mentioned the city of Paris and what the city is best known for the responses could include the Eiffel Tower, being the city of love, the Louvre, etc.

Another city would be New York.

Possibilities of sites or activities associated with the city could include:

• The Empire State building
• Wall Street
• Broadway
• Central Park
• And so forth

In addition to these cities being known for their landmarks or famous attractions, cities are also known for different types of climate and moneymaking possibilities.

In particular, the question could be asked what are the best cities as it relates to their business environment and all that that entails.

Let us, therefore, pack our business suitcase and look at 25 of the best cities noted for their business climate and opportunities.

 

Personal Story

While serving in the United States Navy I was privileged to be on two deployments.

Each of the two appointments took me to the western part of the Pacific Ocean.

As part of the rich experience, we often had the opportunity to go on liberty calls and take in a variety of cities that we would dock at.

Two of the unique cities in my mind were Sydney and Hong Kong.

Sailing into the Sydney Harbor we “manned the rails” and sailed past the Sydney harbor bridge and also took in the beautiful sight of the Sydney Opera House.

The other majestic city was Hong Kong.

We didn’t actually dock in the city but were moored in the bay and had to take transportation boats from the ship to the city of Hong Kong.

One of the magnificent sites associated with Hong Kong was traveling up to Victoria’s Peak via the tram and looking down upon the city and its beauty.

 

25 Best Cities for Business in the World

 

1. Hong Kong

The city of Hong Kong is ranked as a top city to conduct business.

In addition to having the highest concentration of billionaires and individuals of significant net worth per capita, Hong Kong is uniquely situated which makes it an important business city in the world.

Specifically, Hong Kong is the gateway connecting the Western world to Asia and vice versa.

Additionally, it has few restrictions on foreign ownership and allows businesses to operate globally while having a low-cost workforce that is significantly trained.

 

2. London

London is a global hub for a variety of corporations and can be described as the leading edge in the economies of Europe.

London is also known for a variety of services which include banking, finances, and a variety of other business activities.

Also, London is a magnet for foreign tourists, and this alone accounts for the United Kingdom’s gross domestic product representing 20%.

The main business center is known as the “Square Mile” and the city is dedicated to partnering with various local communities to help improve the creation of jobs, providing job training, and are used for advancement while maintaining the city’s rich culture and history.

 

3. Paris

In addition to Paris being a cultural focal point in Europe it has also established itself as a powerful business dynamo.

The basis for its being ranked high as one of the best cities for business is that they have a modern economy, a highly skilled employment workforce, and is home to a variety of corporate operations.

In addition, Paris has a significant concentration of jobs and accounts for 30.3% of the total gross domestic product for the entire country of France.

Added to the mix are a variety of businesses that can be defined as specialized which includes:

• Automobiles,
• Retail,
• Aeronautics,
• Food industry
• Logistics

Major global communications include:

• Disney
• IKEA
• H&M
• And many more multinational companies

 

4. Frankfurt

Frankfurt is considered one of the better cities for business.

Although smaller in geographical size in comparison to other cities, Frankfurt has become a commuting center that attracts people, representing businesses from all around the world.

This has led to Frankfurt is one of the primary locations in Europe for businesses that are multi-national in nature.

Also, Frankfurt has become a significant center for trading and boasts of a prolific stock market and a center of business activity in the area of research, trading, and production.

 

5. Amsterdam

The business allurement of Amsterdam is that all of the necessary dynamics needed to operate a successful business are available.

An added draw to businesses is the fact that significant industrial and office space, 2,000,000 m², is available for businesses to utilize and the use of this space is far more reasonable in cost than other comparable European cities.

Added to the ease of conducting business in Amsterdam is that the experience of most businesses in communicating with local governments is fairly straightforward.

There is not a lot of red tape to cut through.

One other major factor that plays into the conducive business climate of Amsterdam is that employers can reduce their workforce size which is a considerable benefit to many businesses.

Also See: How to Make Money Moving to Europe & How to Make Money Moving to Africa.

 

6. Tokyo

Tokyo has consistently been one of the best cities to conduct business in the world.

The reason for their high ranking includes being the corporate base for many Japanese Fortune 500 firms such as Mitsubishi, Honda, and Sony.

Additionally, their financial district is strong as they host several of the largest global investment banking companies along with many insurance businesses headquartered in the city of Tokyo.

The city of Tokyo is usually combined together with the cities of New York and London in being the three significant cities as it relates to the global economy.

Added to the mix of being a draw for businesses to operate in are the sophisticated infrastructure and investment in meeting the needs of transportation for the residents.

 

7. Singapore

Singapore is another gateway into the country of China with China being one of the most rapidly growing economies in the world.

Their geographical location makes Singapore a conducive city for conducting global business.

Also, Singapore is home to Flextronics and Wilmar International.

Both of these companies are Fortune 500 businesses that are headquartered in Singapore.

Singapore boasts of a highly developed infrastructure, a government that operates efficiently, low taxes, and having an international airport and port of entry that is conducive to transportation of goods and materials to and from the city.

The unemployment rate of this major city is slow and inflation is moderate with no external public debt.

Also, the government invests wisely in foreign investments and provides support to its citizens through subsidies in the areas of health, education, housing, and transportation.

 

8. Oslo

The capital of Norway is Oslo and is the most populated city in the country

It is a major center in the areas of economy and politics.

Within this city are the business actions of shipping, finance, trade, and industry

Because of its geographical location many of the major corporations related to shipping and waterways have headquartered in this city.

Also, Oslo is the pilot city for the organization known as the Council of Europe and the European Commission.

This commission is an association or membership of intercultural cities.

 

9. San Francisco

The city by the Bay or San Francisco is one of the most powerful cities in the world to conduct or launch a business.

Being part of Silicon Valley, this city has long been defined as a center or “poster child” for innovation and entrepreneurship.

In addition, the city is a hub for venture capitalists and as such the possibility of being supported financially is potentially higher with a business enterprise looking for start-up money.

 

10. Beijing

One of the fastest-growing economies within a nation is in the country of China and specifically the city of Beijing.

The diversity of the business environment is due to the industrialization that has taken place along with advances in technology.

One would think that China would be a difficult country to operate within based on political ideologies.

However, corporate rules are more in line with global business enterprises.

This coupled with lower startup costs and the openness of the government for business operations makes Beijing an incubator for business opportunities.

 

11. Hamburg

One of the significant business draws to Hamburg, Germany is the focus given by the city’s Chamber of Commerce in the area of trade.

This trade involves the business areas of the economy, transportation, etc.

The Chamber of Commerce in Hamburg has a robust membership and represents more than 150,000 companies.

Those companies cover a broad spectrum of services provided including the financial, legal, and political sectors.

Because of this concerted effort by the chamber, the city of Hamburg is one of the top cities as it relates to conducting business.

 

12. Toronto

Located in the Ontario province of Canada and on the shores of Lake Ontario is the dynamic city of Toronto.

Toronto has encouraged business enterprises and has succeeded in this strategy based on the immigration laws of Canada.

In Toronto, specifically, half of Toronto’s population has emigrated from different countries which not only have added to the energy of business conducted in this city but also provided significant diversification of companies and services that they offer.

Related: How to Earn Money and Get Paid to Move to Canada.

 

13. Portland

On the West Coast of the North American continent in the upper northwest part of the United States is the city of Portland, Oregon.

This city has repeatedly been ranked by Forbes as one of the leaders in promoting business activities.

The reality and business environment of this city is comprised mainly of highly educated millennials and individuals who take their ecological role and responsibilities seriously.

Therefore, this labor pool and being environmentally friendly is one of the better cities that is conducive to operating a successful business.

 

14. Stockholm

Stockholm has a reputation for providing a creative environment for businesses.

The industrial climate can be further defined as the promotion of intense knowledge.

The particular areas of business focus in Stockholm are the areas of technology, healthcare, and life sciences.

In addition, Stockholm has leveled the business playing field by allowing smaller and startup enterprises to compete with larger corporations by adjusting or changing several business laws that have been legislated by the Swedish government.

As a result, corporate growth has accelerated.

 

15. Melbourne

Melbourne, Australia, is also a quality city that is conducive to business operations around the world.

In particular, the food industry, digital and medical technologies, production of pharmaceuticals, and other professional services that are conducive to business operations.

Additionally, the government of Melbourne is expanding policies in order for businesses to realize growth.

 

16. Seattle

Seattle, Washington, is a forward-thinking city and is a business growth-rich area for companies currently located to expand economically but also the invitation to other businesses to conduct business.

The commitment of community leaders and investors is the expansion of businesses.

Unlike the unbending structure of other financial institutions, the focus of Seattle is to work with businesses so that all entities when in the process.

Subsequently, this has opened up the business community and environment and invites the business “juices” of ideas and services to flow freely

Also, Seattle is rife with qualified workers based on the demographics of the population.

 

17. Dubai

The city of Dubai has invested in itself through the riches obtained through its oil production.

Some of the transformational actions have included the appearance of this city and making it an appealing and energetic-looking area to conduct business.

Other significant changes have included the area of banking, provision of luxury services, and maximizing their trade potential

This city is also appealing for businesses because of its accessibility and various changes that have occurred that have promoted foreign investment, the lowering of the cost to do business, and other powerful adjustments to make conducting business in the city of Dubai more appealing.

 

18. Birmingham

Birmingham, located in the United Kingdom, has of late become a significant local and international business hot spot.

Specifically, the areas of business in which Birmingham is distinguishing itself are the areas of commerce, banking, and medicine.

Birmingham is also headquarters to large corporations including companies such as:

• HSBC
• PwC
• HM Revenue & Customs

 

19. Berlin

Berlin, Germany is positioning itself as a technological city with the goal of being a significant-tech center.

The reality of conducting business in Berlin is that the cost of living is extremely reasonable and affordable for businesses looking for office space or industrial areas to lease.

In addition, the employment pool of young, smart, and energized young workers makes Berlin an ideal area for companies to pursue their technology services.

 

20. Dublin 

Dublin is headquarters for a number of IT corporations including Amazon, Facebook, and Google

There are many reasons why businesses are gravitating to Dublin with some of those reasons being

• Quality of life as it relates to the area of personal/work
• Low tax rates for assets in conjunction with intellectual-property
• Government incentives for innovative ideas

 

21. Edinburgh

Edinburgh, the capital of Scotland, has become a major business hub of environmental business activity.

Some of the positive features of this environment include quality of life as it relates to personal/work balance and safety and enjoyment of life.

Edinburgh offers a business-rich environment for both small and midsize businesses.

In a recent article in the Scotsman Newspaper, Edinburgh is listed as one of the top three United Kingdom cities that provides a welcoming economic environment for businesses.

 

22. New York

Any list of best cities for business would have to include New York City.

This city is synonymous with entrepreneurship and cutting-edge businesses that meet the needs of their customers in an innovative way.

New York is significantly involved and critical when it comes to the financial realm.

Also, New York is a fashion and entertainment hub as well as significant business revenue in the IT industry worth $147 billion.

Also See: Best Money Earning Jobs for 11 Year Olds.

 

23. Copenhagen

In 2017, Copenhagen was awarded the number one city to conduct business in according to a survey conducted amongst 440 Western European cities.

Copenhagen is known as one of the best places to live as it relates to a quality of life.

In addition, the business climate of Copenhagen is conducive to starting a business or relocating a business to this city.

This is because income taxes are low

In addition, the labor pool of Copenhagen is of a high-quality level where a high percentage of the population has received their education at the university level.

Added to the environmentally conducive mix for business is that Copenhagen is northern Europe’s hub for transportation.

That transportation includes the connection to major cities and countries via rail as well as high-speed highways.

 

24. Mumbai

Mumbai, India has and is well-positioned in providing a business-rich atmosphere of advancing business practices and services.

This city is like the hub of a wheel with all of the spokes moving out towards all areas within the country of India and beyond.

The value of Mumbai as a business-rich soil for business activity is due to the large market and the availability of a large workforce.

In addition, the attraction by outside investors is intense and has a significant opportunity and trend for business expansion on a worldwide scale. The

 

25. Madrid

Out of all of the cities in Spain, Madrid is the geographical location in which 75% of the companies have a significant presence.

Those companies represent technology, media, telecommunications, etc.

To put it into perspective this percentage would be the equivalent of the American city of New York.

Also, Madrid is the headquarters for Telephonic which is Europe’s second-largest phone company.

Madrid is the third-largest city in the European Union and represents 12% of Spain’s GDP.

As of this writing, its unemployment rate was low to moderate.

 

Best Cities for Business FAQs

 

What Are Some Significant Considerations to Make When Considering the Business Climate of the City?

Some of the more important considerations to make when considering the business climate of the city includes:

• Tax considerations
• Overhead
• Hidden costs
• Possibilities of growth
• Impact on customers
• Logistics

 

What Are the Benefits to a City to Provide a Quality Business Environment?

Some of the benefits to the city in making a business environment more conducive to business operations include:

• Increasing tax base
• Employment of the residents
• Attracting new businesses
• City growth
• Quality of life for the citizens

 

Conclusion

The strength and the quality of life for the members of a community are dependent upon a number of things.

Primarily, it takes money and money is generated through the economic actions of businesses and the supplying of products and services that in turn are purchased by customers

Without this vibrant component, everything is affected within the city, and therefore the more that a city can do to attract businesses and continue to engage businesses in the community, the better the quality of life for all concerned.