London remains the top city in the world for foreign investment, according to a report into the growth of emerging market economies.
London beat other established financial hubs, including Shanghai and Hong Kong which were second and third, in a report issued by consulting firm KPMG and the Greater Paris Investment Agency.
The Global Cities Investment Monitor ranked Brazilian city Sao Paulo fourth, after a 160% increase in investment in the last two years, making it the city that has climbed the furthest up the rankings.
Brazil also recently became the sixth-biggest economy in the world, overtaking the UK.
The report said other cities in the BRIC group of nations also rose strongly.
Brazil, Russia, India and China are all growing rapidly, while Europe has been in a slump, hard-hit by the sovereign debt crisis.
The top five cities, which also includes New York, took 50% of the total foreign investment into the worlds biggest 22 cities.
Moscow also saw a boost in investment of 60% over the last two years, making it the eighth most popular city to invest in.
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