I have noticed over the past few years that the global business map is shifting very quickly.
For decades, cities like London and New York were dominant hubs. Today, that is no longer guaranteed. Capital, talent and businesses are increasingly moving to cities that were off the radar a decade ago.
Dubai and Singapore set the benchmark
In my view, Dubai and Singapore remain the strongest examples of how smart policy can transform a city into a global business hub.
Dubai has attracted founders and investors through low taxes, efficient company setup, world-class infrastructure and programmes like the Golden Visa. The results speak for themselves – with over 200,000 new residents added each year.
Singapore has built its success through stability, strong institutions, a skilled workforce and its role as a gateway to Asia. It is now a leading base for multinational corporations and family offices across the Asia-Pacific region.
Both cities show how policy drives competitiveness.
Turkey is making a serious play
One of the most interesting recent developments I am seeing is Turkey’s plan to offer up to 20 years of tax exemption on foreign income for qualifying people who move there.
This could significantly strengthen Istanbul as a competitor to established low-tax jurisdictions, while reinforcing its position as a bridge between Europe and Asia.
In practice, Istanbul already has strong fundamentals – location, improving infrastructure and a growing entrepreneurial ecosystem. A more attractive tax regime could accelerate its rise as a regional hub for founders, investors and remote workers.
Milan’s quiet rise
Not all emerging hubs follow the Gulf or Southeast Asian model.
Milan has quietly become one of Europe’s destinations for entrepreneurs and internationally mobile professionals. Italy’s flat tax system for new residents, combined with strengths in fashion, design, manufacturing and quality of life, have helped raise the city’s profile considerably.
Central Asia and the Caucasus are gaining attention
Less discussed, but emerging, are hubs across Central Asia and the Caucasus.
Cities such as Almaty and Tashkent are benefiting from new trade routes, infrastructure investment and their strategic position between Europe, Asia and the Middle East.
Azerbaijan too is emerging as a regional hub, using its strategic location to develop transport routes like the Middle Corridor, explore green energy exports to Europe and advance digital and public-sector innovation.
These markets are still developing, but that is exactly why they are interesting. Some of the biggest opportunities often appear before global attention arrives.
The pattern worth watching
What I keep seeing is the same pattern: policy attracts people, people build ecosystems and ecosystems attract larger businesses.
By the time a city is widely recognised as a global hub, many of the biggest opportunities have already passed. That is why I believe the most interesting places today are not always the most famous ones, but the cities where policy, infrastructure and talent are all aligning.
