Lagos State has been identified as one of the leading cities in the Middle East and Africa for Fortune 500 companies seeking to do business in the region.
The Middle East Africa (MEA) region has become increasingly important for the majority of global Fortune 500 countries, according to a new report released by Infomineo, a global business research company specialising in Africa and the Middle East.
The report focuses on multinationals looking at entering, or already present, in the Middle East and Africa region.
Overall, there was a 17% increase in the number of companies in MEA in 2016 compared to 2015, with Johannesburg being the leading destination for Africa.
The Infomineo analysis includes the regional footprint of multinationals in the MEA region, the most commonly chosen cities, and the factors which influence the selection of the region, country and city – each element revealing the dynamic growth patterns within the region and a clear trend of Fortune 500 companies establishing some kind of presence in MEA.