Cape Town, Johannesburg and Durban are amongst the top 65 business cities in emerging economies according to a new survey by Mastercard. “With the most cities in the Index outside the BRIC nations (Brazil, Russia, India and China), South Africa’s strong showing may reflect the ongoing opening of Africa to Western products, services and companies,” says the survey. “It is clearly a place to watch carefully for new business opportunities.”

Shanghai and Beijing, both in China, are rakned first and second. Johennesburg comes in at number 11, before Sao Paulo, Beunos Aires and Moscow. Cape Town is ranked at 33, and Durban is number 37.

“As the current financial environment shows, globalization is a part of today’s economic reality – capital, talent, technology and even intellectual property now move seamlessly across borders and nations,” said Dr. Michael Goldberg, Program Director, MasterCard Worldwide Centers of Commerce. “Emerging market cities will play an increasingly important role in global commerce and may provide unique market opportunities for businesses in the face of changing economic times.”

The Index, developed by a panel of nine independent experts in economics, sociology and urban studies, is part of the broader MasterCard Worldwide Centers of Commerce™ program – a global initiative to examine the role of cities in performing critical functions that connect markets and commerce around the world.

The full report and ranking. Image from LoveJozi.