Its economic advantage over more established rivals was aided by its commitment to a zero-tax corporate environment, which made Dubai a magnet for major international companies looking to service the UAE and the wider region by establishing their headquarters in the city.īy comparison, the next ranked city was Hong Kong, which effects a 16.5% corporate tax rate, followed by Singapore at 17%.ĭubai’s growing reputation as a global aviation hub propelled it to fifth in the list overall in terms of air connectivity, behind London, Paris, Frankfurt and Istanbul. The report praised Dubai’s economic growth, ranking the city 17 th overall and ahead of Paris, Washington D.C., Frankfurt and Geneva, among others.
It was the only city in the Middle East and North Africa to be listed in the index. The top five cities overall listed in the 2018 report were London, New York, Tokyo, Paris and Singapore respectively.ĭubai ranked 29 th in this year’s list, ahead of major urban centres including Bangkok, Milan, Geneva, Taipei and Moscow. The report, published by Mori Memorial Foundation's Institute for Urban Strategies, ranks the most powerful cities on the planet by overall economic strength, their commitment to R&D, environmental initiatives, liveability and cultural interaction. Dubai has retained its ranking among the world’s most powerful cities in this year’s prestigious Global Power City Index 2018.
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