The GCC cities dominated the global Financial Attractiveness Index list with Bahrain’s capital Manama being named the world’s most financially attractive city in AIRINC’s latest Global 150 Cities index.
Riyadh is in 4th place, Kuwait City in 6th, Abu Dhabi in 7th, and Dubai in 12th on the list.
The index https://www.air-inc.com/global-150/ ranks 150 of the top global locations according to financial attractiveness and lifestyle attractiveness. It combines local salary levels, tax rates, living costs, and living conditions to assess how appealing each location is to live in.
Every single GCC member was represented in the top 20 most financially attractive cities in the world, according to AIRINC’s latest Global 150 Cities Index.
The data is collected by AIRINC’s own in-house survey team, who continuously research the costs and living conditions of many cities around the world to evaluate international mobility.
GCC economies have invested considerable sums in making themselves more attractive to international businesses in line with ambitious region-wide economic diversification efforts, it stated.
As the first GCC member to begin diversification, Bahrain offers one of the easiest and most cost-effective environments to set up and operate a business in the world.
Businesses operating in the Kingdom enjoy 0% tax and 100% foreign ownership allowed.
Thanks to its comprehensive programme of reforms, increasingly digital Bahrain was recently named the fourth most improved economy in the world by the World Bank’s latest Ease of Doing Business report.
As well as ranking first in the world for financial attractiveness in the AIRINC index, Manama also jumped 15 places for overall attractiveness, to 48th.
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The Arab states of the Persian Gulf are the seven Arab states which border the Persian Gulf, namely Bahrain, Iraq, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE).This excludes the non-Arab state of Iran. All of these nations except Iraq are part of the Gulf Cooperation Council (GCC).