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Growing importance of emerging countries

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Cities in emerging countries are attractive for companies which want to open their offices there.

Cities in emerging countries are more and more attractive for companies which want to situate their offices there. At present, they are as good as some agglomerations – business centres located in developed countries. International tenants and investors chose cities in developing countries in 17 out of 30 cases – reports CBRE "Business Footprints. Global Office Locations 2011".

Growing importance of BRIC countries (Brazil, Russia, India and China) is noticeable in global business. It was not until the beginning of the 21st century that the countries became interesting. That is when it was noted that their population amounts to 84% of the world's population and their economies bring 50% of world GDP. CBRE study indicates that Shanghai and Moscow are the most popular business centres among all emerging markets – Shanghai was chosen by 172 companies (61.4% of all surveyed tenants), Moscow houses almost two thirds out of 280 surveyed businesses. Another highly evaluated location is Beijing which holds 169 offices (60.4 % out of 280 surveyed companies). Sao Pãulo and Mumbai also scored high positions. The study proves that New York, London and Hong Kong are no longer the only places for the largest international corporations. The findings of CBRE are supported by other rankings, for example "Fortune" 500 hot spots.

The development of emerging countries is determined mainly by: most valuable and most economically desirable natural resources, strong and dynamic economy with relatively low inflation, numerous and relatively cheap workforce, high levels of mass consumption of local and foreign goods, and growing wealth of BRIC societies. In 2001 and 2003, Goldman Sachs estimated that in 2050 emerging countries will be the leading world powers. In 28 years BRIC countries will surpass G6 (the USA, Japan, Great Britain, Germany, France and Italy).

Concentration of investment activities in BRIC countries is caused by the crisis in Western Europe. Eastern-Central Europe also enjoys growing attention. In 2010 Poland attracted the greatest number of direct international investments in the region. AT Kearney, in the annual report on economic situation, highlighted Poland as one of the countries which enjoy the greatest trust of international investors. In a report compiled by United Nations Conference on Trade and Development (UNCTAD) Poland is sixth in a list of countries most attractive in terms of investments, which is an improvement by six positions over the previous year's report. Poland, which was positioned just after China, Russia, Brazil, India and the USA, outrun its local rivals: the Czech Republic, Slovakia, Hungary, etc. Local investment attractiveness was determined by: economic stability, low business risk, relatively low labour costs, legal and taxation solutions, and availability of an educated personnel. It is becoming more frequent that brain drain is being replaced by brain gain, that is influx of professionals looking for job opportunities and strengthening the scientific potential of the country of immigration.

Each year Warszawa strengthens its position in rankings and lists. According to CBRE analysts, among European locations, Warszawa occupies the fifth position, following London, Moscow, Madrid and Paris. In a worldwide ranking – holding 150 international companies – Warszawa occupies the twelfth position. According to "Fortune", business potential of the city is determined by the fact that there are almost 300 thousand students, governmental actions providing support for companies, and relatively low labour costs in comparison to EU. Additional asset is the location of the Polish capital, in the heart of the old continent, and access to green areas – over 10% of the city centre is occupied by biologically active areas. Warszawa is also relatively safe, has the broadest and most varied property market and most extensive market. The Polish capital was said to be financially the strongest city in Poland, which, at the same time, is the main beneficiary of European Union funds. Warszawa has become one of the most important business centres in Europe. For international corporations Warszawa is equally significant as the most economically advanced capitals and business centres. The large companies will be followed by smaller ones, which indicates further development of Poland and Warszawa – says Joanna Mroczek, CBRE Director, Head of Consultancy & Research Research. On 1 July 2011 Poland took over the Presidency in the Council of the European Union and Warszawa became the capital city of the EU. Since then the attention of the EU has been focused on many political, economic and cultural events taking place in Warszawa. But even when the presidency in the EU is over Poland and Warszawa will not be forgotten. In June 2012 the eyes of the whole Europe will be looking at the capital of Poland, which will host the opening of 2012 European Football Championship.


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