In the US, where tax policies are decided on a local rather than national basis, many states are using this power to attract investment. But how beneficial is this strategy in the long term?

The financial and professional services sector in Wales is growing at pace, buoyed by the relatively low cost of salaries in the country and an abundance of graduates. And, with the economic climate forcing an increasing number of companies to seek cost-cutting solutions, the country's appeal is only set to increase.

With just a handful of 'smart' cities across the world, the concept is still in its infancy. But while there may not be clear a blueprint for success, some cities are already reaping positive economic rewards for their smart thinking.

The Welsh capital of Cardiff offers all of the benefits of a large city, without the large price tag. Slowly, its relatively cheap but well educated workforce and attractive government incentives are starting to draw companies away from rival English cities.

Angola's rapid economic growth has caught the attention of investors, but if the government wants to turn this interest into investment, it must work to improve the country's notoriously difficult business environment.

The province of Quebec stands out from the rest of Canada for myriad reasons. Its culture and language are obvious examples of this, but its proactive approach to attracting both investment and labour also give the region something to be proud of.

The race to Myanmar is under way, as investors look to get in early to make the most of one of the world's most intriguing propositions. However, despite making some short-term gains, the country's leaders are eyeing the long game.

Over the past decade, the South Korean government has attempted to diversify its economy and lessen its reliance on exports through the development of eight free economic zones, each with its own specialism. Barbara Njau reports on their progress.

Michael Mack, chief executive of crop science firm Syngenta, is looking to future population growth to work out where to invest today.