Any business with aspirations of significant growth should be constantly looking outwards for new ways to expand, whether that’s looking towards a new city or an entirely new country. Even a city like Phoenix, with a vast consumer base and impressive infrastructure, can’t provide a business with everything that it needs to become a national or global powerhouse.

It’s important to have a strong base from which to build international ventures. That is why U-HAUL, Intel, and several Fortune 500 companies are among the huge businesses that have called Phoenix their home. There are a few business hubs across the world that are particularly receptive to foreign investment, so emerging and established American companies alike should have these places on their radar.

Singapore

Singapore is one of what Investopedia calls the ‘Four Asian Tigers’. Along with Hong Kong, South Korea, and Taiwan, Singapore has made consistent and significant economic growth over the past five decades to become a powerful financial center. Of those four Asian hubs, Singapore is considered to be the most secure location for overseas investors.

Its strict but transparent regulatory framework means that private sector companies are protected, whilst also providing a level of economic stability that is always appreciated in business. Singapore also has particular strength in capital markets and insurance management.

Zurich

Zurich is one of the most important business centers in Europe, with the city most widely renowned for hosting some of the biggest banks and financial institutions in the world. Zurich also boasts one of the largest stock markets, the SIX Swiss Exchange, so those in the business of asset management will be right at home in Zurich.

This is a city that is tailored for foreign investors, so American companies will be able to benefit from attractive tax rates. Strong infrastructure and a constant drive for innovation also make Zurich worth consideration.

Shanghai

Gaining a foothold in the Chinese market is a massive advantage for an American company looking to make significant growth, so Shanghai should appeal as a potential foreign base. The sheer size of Shanghai makes it an attractive proposition, while the Chinese government has invested sizably to improve Shanghai’s business capabilities.

American companies should monitor developments in the trading relationship between the US and China, as it could affect the costs of setting up a new base or trading links in Shanghai. This may make new up-and-coming business hubs the destination of choice for American companies.

The New Powers: Dubai and Toronto

Dubai has been the beneficiary of significant investment in recent years, turning this city in the United Arab Emirates into the business hub of the Middle East. You can see this investment in its skyline and in its financial districts, where more global corporations are setting up because of favorable tax laws.

All of these international business hubs are a safe location for trade, but they also provide clean and secure living environments. Dubai even has another city within a commutable distance for professionals who prefer not to live in their business hub. Bayut lists the range of affordable but luxurious apartments in nearby Sharjah, where as little as 10,000 AED monthly can secure you residence within an hour of Dubai.

Having commuter options already in place means that Dubai is a prime candidate for future investments and developments. Toronto is another place that is attracting significant investment, albeit a little closer to home for American companies.

blogTO cites 2018 figures that showed Toronto was the fastest-growing city in the US and Canada – with Phoenix coming in second. Toronto is now rivaling Silicon Valley as a technological hub, making it a haven for new start-ups and a popular destination for skilled tech workers.

While traditional financial centers should still retain their allure to American companies, rising stars like Dubai and Toron