In a study of the most promising investment locations in Europe, fDi Magazine – a Financial Times publication – has crowned London and Nordrhein-Westfalen in Germany as respective winners of the European City and Region of the Future 2014/15 titles. Ireland does well in having 3 cities in Europe's top 25 but as with the UK, while locations are attractive for FDI (foreign direct investment), separate surveys show that they are not among the popular locations for expatriates.
London demonstrated a clear strategy for attracting foreign direct investment (FDI) and ranked first place in the Economic Potential category for major European cities, according to the report. The city also ranked second in the Infrastructure category, in part due to its forthcoming Crossrail project – the largest civil engineering project in Europe.
Among large European Regions Nordrhein-Westfalen ranked first, rising six places from the previous ranking in 2012/13. The region also ranked third in Economic Potential and second in Human Capital.
Helsinki emerged as a new top entry in the Top 25 European cities category, ranking second. Finland’s capital has been receiving increased attention for its efforts to attract FDI and scored particularly well for FDI Strategy. The Dutch city of Eindhoven was also a new entry to the Top 25, ranking third. The city ranked first in the FDI Strategy category for small European cities and fourth in the Infrastructure category.
Dublin has a 5th ranking with Cork at 24 and Galway at 25.
Locate the report here after brief registration.
This week Mercer published its annual city quality of living for expatriates survey and Dublin got a 31st rank with London at 38th. Vienna got the top global rank from a sample of 223 cities.
Last November, HSBC, the global bank, in a rating of 37 countries based on feedback from over 7,000 expats, put Ireland last at 24 when all criteria were included, with China, Germany, Singapore and Cayman Islands in the lead.
When 'Raising children' is unticked in this interactive chart, Ireland gets a rank of 36, just above Egypt and Thailand, China, Switzerland and Cayman Islands lead in the sample of 37 countries.
"It is a challenging time for FDI in Europe. With sluggish growth in many of the major economies and continuing ill effects from the euro zone crises of last year, inflows into the region have declined. That makes it crucial for Europe's cities and regions to take a proactive stance towards FDI promotion and to ensure their investment environments are as competitive as possible. Our rankings recognise the locations that are doing just that, and highlight the respective strengths of cities and regions of all sizes across Europe," said Courtney Fingar, editor-in-chief of fDi Magazine.
To create a shortlist for the fDi European Cities and Regions of the Future 2014/2015, the fDi Intelligence division of the Financial Times collected data using the specialist online FDI tools fDi Benchmark and fDi Markets, as well as other sources.
Data was collected for 468 locations, both cities and regions, in five categories: Economic Potential, Human Capital and Lifestyle, Cost Effectiveness, Infrastructure and Business Friendliness. In addition, surveys were collected under a sixth category, FDI Strategy, for which there were 180 submissions. In this category, locations submitted details about their strategy for promoting FDI, which was then scored by fDi’s judging panel. Locations scored up to a maximum of 10 points for each datapoint, which were weighted by importance to the FDI decision making process in order to compile both the subcategory rankings, as well as the overall European Cities and Regions of the Future 2014/2015 ranking.
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