Auckland, the largest city in New Zealand, is set to become one of the major financial hubs of the global South within the next five years, predicts Nigel Green, founder and CEO of deVere Group, an independent financial advisory and asset management organisation.
Green expects the city to compete ‘more effectively and aggressively’ with other international finance hubs in the global south including São Paulo, Johannesburg, Mumbai, Shanghai and Singapore.
“Auckland’s geographic position is a significant advantage, strategically located at the crossroads of the Americas, Asia, and Oceania,” explains Green. “This unique positioning facilitates international trade and finance, making Auckland a prime base for multinational corporations looking to expand in the Asia-Pacific region. Auckland International Airport is one of the busiest in the region, and is undergoing significant upgrades to accommodate future growth.
“In addition, the city’s port facilities are among the most advanced in the southern hemisphere. These robust infrastructural foundations enhance Auckland’s appeal as a global business hub, providing seamless connectivity for international trade and investment.
“Compare this, for example, to São Paulo, which is more regionally focused compared to Auckland’s broader Asia-Pacific reach; and Johannesburg faces challenges with regional instability.”
Government policies fostering a business-friendly environment are crucial. New Zealand has ranked first in the World Bank’s Ease of Doing Business Index, reflecting the country’s efficient regulatory framework. Auckland has benefited from these policies, attracting significant foreign direct investment (FDI).
“Compare this to Mumbai, for instance, India’s rapid growth and large market are strengths, yet infrastructure challenges and bureaucratic hurdles remain. Auckland’s streamlined regulatory environment provides a smoother investment landscape,” says Green.
Auckland’s…
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