International arbitration is the preferred form of global dispute resolution. London and Paris are still the most preferred venues but Hong Kong and Singapore are on the rise.
The 2015 International Arbitration Survey conducted by Queen Mary University of London (QMUL) is the third survey carried out in partnership with White & Case. The theme of this year's survey is improvements and innovations in international arbitration. The survey examined the effectiveness of past innovations and what could be improved in the future.
90% of respondents surveyed prefer international arbitration to resolve cross border commercial disputes.
London and Paris are the most preferred venues for international arbitration. Hong Kong and Singapore are gaining momentum and are now ranked third and fourth.
Initiatives to further improve the efficiency of the arbitral process are welcomed. Arbitrators and arbitration counsel need to be more proactive in promoting efficiency, not just arbitral institutions.
70% of respondents think there is an adequate amount of regulation although specific areas require further 'micro-regulation'.