The Effects of Globalization
The following examples illustrate how quickly the process of
globalization is changing the world. As Third World economies catch up to first
world economies, the playing field shifts, and corporate real estate users look
for opportunities created by those changes.
- Kolkata, India’s information technology sector is growing at
70 percent yearly -– twice that of the national average.
- Manila, Philippines, is home to the largest mall in Asia at 4.2 million square feet
- Guangzhou, China, known to many as Canton, is the
third-largest city economy in China and ranks third, behind Beijing and
Shanghai, in terms of current multinational presence.
- Dublin, Ireland, offers the lowest corporate tax rate
in Europe of 12.5 percent.
- Singapore is the world's busiest hub for transshipment
traffic and biggest ship refueling hub.
- St. Petersburg is Russia’s safest investment destination
according to an independent Expert Ratings Agency study.
- Although Bangalore,
India, is known as India’s “Silicon Valley,” companies are now finding new
outsourcing markets around the world, according to BusinessWeek Online,
including Buenos Aires, Argentina; Bucharest, Hungary; Moscow; St. Petersburg,
Russia; Prague, Czech Republic; Mexico City; Sao Paulo, Brazil; Santiago, Chile;
Dalian, China; and Ho Chi Minh City, Vietnam.
- San Juan, Puerto Rico’s Plaza Las Americas mall is the most
profitable mall by square foot in the world.
- Mumbai, home to “Bollywood”, is the financial and
entertainment center of India.
- Shanghai, China, became the world's busiest port in terms of
cargo throughput, handling a total of 423 million tons of cargo in 2005.
- Mexico City produces 25 percent of the country’s GDP and is
the 30th largest economy in the world.