Global cities with open value systems draw international investment. The reasons this occurs is because of culture and the risk of investing in new places. Thus developing cultures that are open to different kinds of people, institutions run in a way that creates net positives, judicial-justice systems that protect the root assumptions of such systems, flexibility with investors, setting up strong policies, being strategic about opportunities, marketing, lifestyle, etc. all make a difference. None are the home run but they are often part of the game. You may want to read a study on Investing in Global Cities.
Let me give you an example. There are lots of positive aspects to a locality but it struggles in a few areas with institutional integrity. Complaints of corruption, bigotries, hyper politics, retaliation, etc. and a lack of accountability makes a big difference in appeal. All other things could be fine, or in a state of improvement, but if the there is a factor warping the cultural investment appeal, i.e. good old boy networks, then investors may opt for places more open to diverse workers (human capital recruitment and retention.)
Within any system there is the external environment and the internal environment. Environmental Scanning. While the general national and international market create incentives to invest, it is up to the locality to develop a place worthy of investment and learn how to attract those investors. That requires a global perspective and perception. It can be learned and it can be taught but only if one is open minded to new experiences, peoples, and ideas. Global Perception
While there may be some detractors such as inflation or supply chain issues, a strong system can create enough positives through infrastructure, education, events, tax rate, living standard, etc. to minimize risks. Minimizing risks and maximizing growth are an environmental assessment. Think of it like a percentage or ranking. The external environment might put a -2, national hyper politics another -1 (you can add as many as you want) but the system is well run and has a +4 ranking so it is investment worthy (The higher you rank, the more investments a location can attract.). International companies would be interested in the place based on stability and based on a totality of factors that align with their industry and corporate needs.
How does one create a strong system that attracts investment?
There are many ways but a few can help such as sustained commitment to development, attracting investment interest, building lifestyle appeal, ensuring institutions act with integrity, strong leaders come forward (poor ones leave), managing infrastructure so on and so forth. In other words, they have to get everyone rowing in the same direction and living by their shared principles (We mighy call this root values that are universal to all people.). Reversing trends is possible with commitment.
"Many hands make like work." John Heywood
While you can't guarantee this or that investment will come or go you can ensure the investment environment is attractive and open to new ideas and peoples. In a chaotic world a positive growth oriented smart city is better than a dull one. Globally attractive cities are open to globally open to differences and function off the highest ethical standards to create a stable economic base. Everything in this life is a choice, so choose the highest ideals and standards. It is important for you and for society. Economics is related to underlining values and the choices that come from those values. Economics and Values.
Some theorist have argued if you have shared values and principles that create coordinated activities growth is possible. Business Ethics as a Catalyst to Growth
*This article is a hypothetical example as a thought experiment on freedom of speech and religion. Take with a grain of salt.
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