UK Market
London is Number One Again
The latest European Cities Monitor 2008 has once again ranked London as the top European city in which to locate a business for the 19th consecutive year. It is ranked the number one city in half of the 12 major areas, including access to markets, availability of qualified staff as well as international and internal transport links.
Michael Charlton, chief executive officer at Think London, comments:
"London continues to attract the largest number of foreign direct investment projects in Europe as it remains the number one choice for businesses wanting a skilled workforce, good transport links and an accessible market. London is also highly attractive to non-European companies, especially Indian, Chinese and US firms, wishing to easily access the European Union's 27 member states with a population of nearly 500 million. As we approach a tougher economic climate, it is important that the city retains its competitive edge, and we are looking forward to maintaining our position next year."
Commercial property prices fell in London by 20 per cent in the last 18 months and are set to continue falling, according to a recent report by real estate advisor CB Richard Ellis (CBRE). It is predicted that prices will fall a further 10 percent, making it the largest reduction in Europe.
The European Cities Monitor (ECM) is the annual location survey of Europe's leading companies carried out by global real estate consultant Cushman & Wakefield. The survey, undertaken by market research firm Taylor Nelson Sofre, is based on interviews with senior managers and board directors in charge of location of 500 top European companies. It looks at factors regarded as important by companies when deciding where to locate, and then compares the performance of 34 of Europe's leading business cities on each factor.
Key rankings:
Factor
|
Top rated
2008
|
Best city for qualified staff
|
London
|
Best city for easy access to markets
|
London
|
Best city for quality of telecommunications
|
London
|
Best city for external transport links
|
London
|
Best city for languages spoken
|
London
|
Best city for internal transport
|
London
|
Best city for cost of staff
|
Warsaw
|
Best city for value for money of office space
|
Leeds
|
Best city for availability of office space
|
Berlin
|
Best city for the climate government creates
|
Dublin
|
Best city for quality of life
|
Barcelona
|
Best city for freedom from pollution
|
Oslo
|
Best city for hotel accommodation
|
Paris
|
Best city for expatriate accommodation
|
Berlin
|
City improving themselves
|
Barcelona
|
European expansion: those that can expect the biggest influx of companies in the next five years
|
Moscow
|
Global city to expect the biggest influx of companies in the next five years
|
Shanghai
|