Cities that were not so long ago little more than big fishing villages are rising to global commercial prominence.

Using the MasterCard Worldwide Emerging Markets Index, which ranks 65 cities in 30 markets on the basis of business environment, economic growth, and financial services environment, Forbes magazine chose the world’s next great cities.

Turbulence in world markets is affecting some of them, but others are mostly escaping these issues.

“Many of these emerging economies have not been as financialized as those in established countries,” said Saskia Sassen, a professor on Columbia University’s Committee on Global Thought.

Here are the top 10 emerging cities:

1. Shanghai, China
2. Beijing, China
3. Budapest Hungary
4. Kuala Lumpur, Malaysia
5. Santiago, Chile
6. Guangzhou, China
7. Mexico City, Mexico
8. Warsaw, Poland
9. Bangkok Thailand
10. Shenzhen, China

Source: Forbes, Matt Woolsey