MasterCard 2008 Emerging Markets Index:Santiago is ranked best emerging city in Latin America and fifth worldwidePublished: February 13, 2009
Chile's capital was named the best emerging city in Latin America by MasterCard Worldwide. Santiago's economic stability, excellent business climate and quality of urban life placed the city first in the region. It also obtained fifth place among the best emerging cities of the world.
With an overall score of 57.76 (out of a maximum of 100), the MasterCard Worldwide Centers of Commerce Index placed Santiago among the world's top-tier cities, i.e., those cities that are already established as commercial centres on the world stage, yet serve as important entry points to emerging markets. Santiago's high score is due to its importance, and its national and regional role.
Santiago ranks first worldwide in terms of Economic and Commercial Environment, one of the dimensions evaluated by this Index. The Economic and Commercial Environment dimension includes time and costs involved in building a standard warehouse, ease of dealing with licenses and trading across borders, foreign bond ratings and others.
Chile's capital city excels in the Business Environment category, ranking fourth worldwide. Indicators of this category include ease of entry and exit, corporate tax burden, investor protection, contract enforcement, and ease to close a business.
The quality of Santiago's urban life is also highlighted by the Index, ranking fifth worldwide and which takes into consideration climate, medical and health considerations, public services and transport, recreation and culture and life expectancy at birth.
A roadmap for future commerceThe 2008 MasterCard Emerging Markets Index provides valuable insights into the 65 leading cities driving growth within more than 30 emerging markets. It evaluates 65 cities on eight dimensions related to their business climate, political environment, economic growth, commercial connectivity, quality of life and other areas. It also explores the global and regional economic trends that distinguish these cities as future development hubs.
"Given the current economic climate, MasterCard is focused on providing valuable insights that assist our customers in identifying new market opportunities for the future. The Emerging Markets Index is key to that commitment," President of Global Markets MasterCard Worldwide, Walt Macnee, commented. "By evaluating 65 emerging market cities and their increasingly important roles in global commerce, the Index offers companies a roadmap for where commerce is headed next."
Source: MasterCard Worldwide, the Worldwide Centers of Commerce™: Emerging Markets Index.